August 7, 2008, 6:00 pm
Brooks 3Q Misses, 4Q Forecast Light, Touts Solar Biz
Posted by Tiernan Ray
Half-a-billion-dollar (market cap) semiconductor equipment maker Brooks Automation (BRKS) this evening reported results for the fiscal third quarter ended June 30 that missed on the top and bottom line, and provided a lighter-than-expected outlook for profit and sales in the current quarter, but it also mentioned the prospect of rising revenue from solar-power manufacturers.
Revenue in 3Q of $124 million was down 35%, year-over-year, and missed the average estimate of $132 million by a mile. The company’s net loss per share, excluding one-time charges, came in at 12 cents, well below the 4-cent average estimate. For the fourth quarter, the company expects revenue in a range of $110 million to $125 million, and a net loss in a range of -$0.15 per share to -$0.05 per share, compared to expectations for $133.8 million and break-even.
In the company’s press release, president and CEO Robert Lepofsky said, “Today approximately 15% of our revenues come from customers outside of the semiconductor industry and we see that number increasing in the future. We expect [to] increase our penetration in the data storage, analytical instrument and solar sectors. At the present time we are particularly pleased with the pace of implementation of Brooks’ vacuum solutions by both established and emerging companies in the growing solar cell industry.”
Brooks shares, perhaps cheered by solar prospects, are up 13 cents, or 1.55%, at $8.50 in after-hours trading, after falling a little less than 1% during the regular session.
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