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Technology Stocks : Azenta

AZTA 30.20

+1.0%

Oct 31 9:30 AM EST

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To: robert b furman who wrote (1069)

12/3/2019 10:25:53 AM

From: robert b furman

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Brooks delays filing of their 10k :

BZ: Citi Out Negative On Brooks Automation Following Delayed 10-K Due To Revenue Recognition Review; Says Expects Stock Will Trade Lower On This News And Is Unclear Whether Execution Issues In Life Sciences Or Internal Controls Weakness Are Related.

10:59 AM EST, 12/02/2019 (MT Newswires) -- Brooks Automation (BRKS) said Monday it is unable to file its annual report on Form 10-K for the fiscal year ended Sept. 30 within the prescribed period because it is reviewing the timing of revenue recognition shipped from one of the company's contract manufacturers.

The company expects to file the report as soon as practical, within the 15-day extension period.

The provider of automation and cryogenic products also said that the annual report would include "immaterial" adjustments resulting from "material weakness" in internal controls it identified within its Brooks Life Sciences segment.

Shares were 6.6% lower in recent morning trade.

Price: 42.00, Change: -2.77, Percent Change: -6.60

The very quiet termination of Dusty always made me wonder WHY? - looks like Dusty was padding his sales accomplishments? Now let's hope that in 15 days the result really is "Immaterial". If so a great "ADD TO" entry point is in the making.

If the results are immaterial, this is the deal of a lifetime due to clumsiness.

Bob

*Brooks Automation: Dusty Tenney, Pres Sample Management, Will Be Leaving Brooks Effective Sept 6, 2019 >BRKS.

For long term stock holders this is not a sell sign, but rather a discount - at some certain price.

Bob

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