Brooks revenue jumps 65% in Q4, absorbs two acquisitions

Brooks revenue jumps 65% in Q4, absorbs two acquisitions
CHELMSFORD, Mass. -- Brooks Automation Inc. here reported that its revenues for the fourth quarter of fiscal 1999, ended Sept. 30, were $33.9 million, an increase of 65% from revenues of $20.6 million in the same quarter a year ago, and up 28% sequentially.

Revenues for the fiscal year were essentially even, at $103.9 million, up from revenues of $100.3 million for fiscal 1998.

All revenue amounts reflect the combined financial statements of Brooks Automation and Smart Machines Inc., a San Jose-based maker of vacuum robots for semiconductor wafer handling that Brooks acquired in July (see July 8 story).

The net loss for the quarter was $5.4 million, or 47 cents per share, including pre-tax charges of $5.3 million on an after-tax basis, primarily due to acquisition-related and non-recurring costs. This compared with a net loss of $8.9 million, or 85 cents per share in the fourth quarter of fiscal 1998, which included non-recurring pre-tax charges of $7.4 million.

Excluding the effect of Smart Machines and the other charges, the company's net income was $286,000 or 3 cents per share, which Brooks said is in line with the First Call analysts' consensus.

Robert J. Therrien, president and CEO of Brooks Automation, noted that the company's acquisitions and pending acquisitions "position the company as the largest merchant tool automation supplier, the largest automation software company, and the largest merchant semiconductor automation sales, service and support provider."

During the quarter, Brooks also acquired the assets of Jenoptik Infab (see July 12 ). It also moved to purchase software provider AutoSimulations Inc.

Bookings were $35.5 million in the fourth quarter of fiscal 1999, up 11% from $32.0 million booked in the third quarter.

Therrien said he believed that Brooks' revenues could increase to $230-$240 million in fiscal 2000, and grow over 40% in fiscal 2001. "Similarly, I believe that the company can leverage its cost structure and progress to a profit in FY2000 and a solid continuing growth in profitability in FY2001."