Brooks Automation reports record financial results and expansion of international business

Business Wire, Jan 18, 1996

CHELMSFORD, Mass.--(BUSINESS WIRE)--Jan. 18, 1996--Brooks Automation, Inc. (NASDAQ:BRKS), a leading supplier of automation systems for the semiconductor production equipment industry, reported record orders, sales and pretax earnings for the fiscal 1996 first quarter ended December 31, 1995.

Quarterly net sales of $16.8 million and pretax earnings of $2.6 million were at all-time highs. After- tax earnings of $1.7 million were negatively affected by a provision for higher taxes principally as a result of the lapse of the research and development tax credit which, we understand, is a topic of the ongoing budget discussions in Washington, D.C.

Orders of $19.1 million also were at record levels and included nearly $2 million of new business in the Flat Panel Display business which is an emerging major business opportunity for the Company. Orders from international customers also increased to $3.7 million in the current quarter. The quarter book-to-bill ratio was 1.14 to 1.0. Compared to the first quarter of fiscal 1995, net sales increased by 99% and operating income increased by 127%. Net income per share increased to $0.22 computed on a 72% increase in shares outstanding, versus $0.15 last year.

Commenting on the quarter, Robert J. Therrien, President and Chief Executive Officer of Brooks Automation, said, "We are pleased with the overall order rate during the quarter and especially our increase in business from Japan where we opened a direct sales and customer support operation last year. During the quarter, we began deliveries of our new generation vacuum transfer robot, the MagnaTran 6, to leading OEMs developing tools for 300mm manufacturing as well as productivity-enhancing upgrades for current generation 200mm production tools. First quarter highlights also include the successful installation and start-up of next generation flat panel display manufacturing systems incorporating our Hercules handling solutions to enhance productivity and performance."

ABOUT BROOKS AUTOMATION, INC.: Brooks Automation, Inc. is a pioneer and a commercial world leader in vacuum robotics and automation technology for the semiconductor and flat panel display process equipment markets. The Company combines proprietary substrate material handling and conditioning technology with applied engineering to enable its customers' products to lower the cost of manufacturing semiconductor and flat panel displays. -0-