Brooks Automation Reports Results of Third Quarter of Fiscal 2021, Ended June 30, 2021, and Announces Quarterly Cash Dividend

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Robust Demand and Strong Execution Drive Continued Growth in Revenue and Profitability

CHELMSFORD, Mass., Aug. 5, 2021 /PRNewswire/ -- Brooks Automation, Inc. (Nasdaq: BRKS) today reported financial results for the fiscal quarter ended June 30, 2021.



Financial Results Summary




Quarter Ended








Dollars in millions, except per share data


June 30,


March 31,



June 30,


Change vs.






2021


2021



2020


Prior Qtr


Prior Year




Revenue


$

315


$

287



$

220


10

%

43

%



Semiconductor Solutions


$

186


$

157



$

127


19

%

47

%



Life Sciences


$

129


$

130



$

93


0

%

38

%





















Diluted EPS Continuing Operations


$

0.53


$

0.32



$

0.19


64

%

184

%



Diluted EPS Total


$

0.53


$

0.32



$

0.19


65

%

184

%





















Non-GAAP Diluted EPS Continuing Operations


$

0.72


$

0.61



$

0.32


17

%

127

%





















Adjusted EBITDA


$

78


$

71



$

40


10

%

94

%




Management Comments

"We are proud of the results of our third fiscal quarter with strong execution by both businesses," commented Steve Schwartz, President and CEO. "Life Sciences sustained its high growth performance and Semiconductor Solutions acceleration was exceptionally strong. We expect our fourth fiscal quarter of 2021 to continue the upward trajectory. We remain on track for the planned separation into two standalone companies, which is expected to occur by the end of the calendar year."

Summary of GAAP Results

Third Quarter, Fiscal 2021

  • Revenue for the third quarter was $315 million, up 43% year over year driven by growth in both Life Sciences and Semiconductor Solutions.

  • Diluted EPS from continuing operations was $0.53 per share compared to $0.19 per share in the third quarter of 2020.

  • Life Sciences revenue of $129 million grew 38% year over year. Year-over-year organic growth was 42%. Life Sciences Products grew 60% year over year, and Life Sciences Services grew 28%. Excluding the effect of the recent exit of the RUCDR alliance, Life Science Services grew 43%.

  • Semiconductor Solutions revenue was $186 million, an increase of 47% year over year. Year-over-year organic growth was 43%.

  • Operating income was $50 million, compared to $19 million in the third quarter of 2020. Operating margin was 15.9%, up 730 basis points year over year and was driven by gross margin of 45.8%, up 370 basis points year over year. Operating expenses in the quarter include approximately $6 million in unallocated corporate expenses related to strategic M&A initiatives, including the preparation to separate the two businesses.

A reconciliation of non-GAAP measures to the most nearly comparable GAAP measures follow the consolidated balance sheets, statements of operations and statements of cash flows included in this release.

Summary of Non-GAAP Results for Continuing Operations

Third Quarter, Fiscal 2021

  • Diluted EPS for the third quarter was $0.72, up 127% year over year.

  • Operating income was $68 million, an increase of 127% year over year, and operating margin was 21.5%, up 790 basis points year over year. Gross margin of 46.9% was up 340 basis points year over year.

  • Life Sciences operating margin was 17.8%, up from 7.1% in the prior year. Gross margin was 50.0%, up 540 basis points year over year driven by performance improvement of 250 basis points, as well as, 280 basis points of favorable mix as a result of exiting the RUCDR alliance agreement.

  • Semiconductor Solutions operating margin was 24.1%, an increase of 560 basis points from the prior year. Gross margin was 44.7%, up 200 basis points year over year, driven by margin expansion in Automation.

  • Adjusted EBITDA was $78 million, up 94% from the third quarter of 2020 and 10% sequentially.

Cash and Liquidity

  • Cash flow from operations was $45 million for the quarter, an increase of $19 million year over year.

  • On April 29, 2021, the Company acquired Precise Automation, Inc. for approximately $70 million in cash subject to working capital and other adjustments.

  • The Company ended the third fiscal quarter of 2021 with a total balance of cash, cash equivalents, restricted cash, and marketable securities of $286 million, with total debt of $50 million, and net cash of $236 million.

Quarterly Cash Dividend

The Company additionally announced that the Board of Directors has reiterated a dividend of $0.10 per share payable on September 24, 2021 to stockholders of record on September 3, 2021. Future dividend declarations, as well as the record and payment dates for such dividends, are subject to the final determination of the Company's Board of Directors.

Guidance for Fourth Quarter Fiscal 2021

The Company announced revenue and earnings guidance for the fourth quarter of fiscal 2021. Revenue is expected to be in the range of $328 million to $348 million and non-GAAP diluted earnings per share is expected to be in the range of $0.71 to $0.81. GAAP diluted earnings per share for the fourth fiscal quarter is expected to be in the range of $0.50 to $0.60.

Conference Call and Webcast

Brooks management will webcast its third quarter earnings conference call today at 4:30 p.m. Eastern Time. During the call, Company management will respond to questions concerning, but not limited to, the Company's financial performance, business conditions and industry outlook. Management's responses could contain information that has not been previously disclosed.

The call will be broadcast live over the Internet and, together with presentation materials referenced on the call, will be hosted at the Investor Relations section of Brooks' website at www.brooks.investorroom.com, and will be archived online on this website for convenient on-demand replay. In addition, you may call 800-941-1366 (US & Canada only) or +1-212-231-2926 for international callers to listen to the live webcast.

Regulation G – Use of Non-GAAP financial Measures

The Company supplements its GAAP financial measures with certain non-GAAP financial measures to provide investors a better perspective on the results of business operations, which the Company believes is more comparable to the similar analyses provided by its peers. These measures are not presented in accordance with, nor are they a substitute for, U.S. generally accepted accounting principles, or GAAP. These measures should always be considered in conjunction with appropriate GAAP measures. A reconciliation of non-GAAP measures to the most nearly comparable GAAP measures is included at the end of this release following the consolidated balance sheets, statements of operations and statements of cash flows.

"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934

Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include but are not limited to statements about our revenue and earnings expectations, our ability to increase our profitability, our ability to improve or retain our market position, our ability to deliver financial success in the future, and the timing of our planned separation into two independent public companies. Factors that could cause results to differ from our expectations include the following: the impact of the COVID-19 global pandemic on the markets we serve, including our supply chain, and on the global economy generally, the volatility of the industries the Company serves, particularly the semiconductor industry; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability of customers to make payments to us when due; the timing and effectiveness of cost reduction and cost control measures; price competition; disputes concerning intellectual property; uncertainties in global political and economic conditions, and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result, we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.

About Brooks Automation

Brooks (Nasdaq: BRKS) operates two, global, market-leading businesses, Life Sciences and Semiconductor Solutions, each with its own distinct area of focus and expertise. The Company's Life Sciences business provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Brooks Life Sciences' GENEWIZ division is a leading provider of gene sequencing and gene synthesis services. With over 40 years as a partner to the semiconductor manufacturing industry, Brooks' Semiconductor Solutions business provides industry-leading precision vacuum robotics, integrated automation systems and contamination control solutions to the world's leading semiconductor chip makers and equipment manufacturers as well as collaborative robotics and automation capabilities for multi-market applications.

On May 10, 2021, Brooks announced its plans to separate into two independent, publicly traded companies by establishing a standalone life sciences company, comprised of the Life Sciences business, and a standalone automation company, comprised of the Semiconductor Solutions business. The transaction is expected to be completed by the end of calendar year 2021.

Brooks is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. For more information, visit www.brooks.com.

BROOKS INVESTOR CONTACTS:

Sara Silverman
Director of Investor Relations
Brooks Automation
978.262.2635
sara.silverman@brooks.com

Sherry Dinsmore
Brooks Automation
978.262.4301
sherry.dinsmore@brooks.com

BROOKS AUTOMATION, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(In thousands, except per share data)

















Three Months Ended



Nine Months Ended



June 30,



June 30,



2021


2020



2021


2020


Revenue














Products

$

215,843


$

142,323



$

565,829


$

413,329


Services


99,506



78,027




285,610



237,748


Total revenue


315,349



220,350




851,439



651,077


Cost of revenue














Products


120,387



81,989




317,472



245,930


Services


50,562



45,573




149,165



137,092


Total cost of revenue


170,949



127,562




466,637



383,022


Gross profit


144,400



92,788




384,802



268,055


Operating expenses














Research and development


18,284



14,004




51,310



43,727


Selling, general and administrative


75,883



59,714




221,646



178,866


Restructuring charges




(29)




179



1,125


Total operating expenses


94,167



73,689




273,135



223,718


Operating income


50,233



19,099




111,667



44,337


Interest income


409



29




503



865


Interest expense


(477)



(810)




(1,485)



(2,265)


Other income (expenses), net


(1,625)



498




(147)



(1,318)


Income before income taxes


48,540



18,816




110,538



41,619


Income tax provision


9,370



5,120




20,428



5,557


Income from continuing operations


39,170



13,696




90,110



36,062


Loss from discontinued operations, net of tax


(4)






(1,168)



(182)


Net income

$

39,166


$

13,696



$

88,942


$

35,880


Basic net income per share:














Income from continuing operations

$

0.53


$

0.19



$

1.21


$

0.49


Loss from discontinued operations, net of tax


(0.00)



-




(0.02)



(0.00)


Basic net income per share

$

0.53


$

0.19



$

1.20


$

0.49


Diluted net income per share:














Income from continuing operations

$

0.53


$

0.19



$

1.21


$

0.49


Loss from discontinued operations, net of tax


(0.00)



-




(0.02)



(0.00)


Diluted net income per share

$

0.53


$

0.19



$

1.20


$

0.49
















Weighted average shares outstanding used in
computing net income per share:














Basic


74,296



73,759




74,195



73,473


Diluted


74,495



73,860




74,420



73,766
















BROOKS AUTOMATION, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

(In thousands, except share and per share data)









June 30,


September 30,


2021


2020







Assets






Current assets






Cash and cash equivalents

$

269,862


$

295,649

Marketable securities


101



67

Accounts receivable, net


234,079



188,291

Inventories


154,720



114,834

Prepaid expenses and other current assets


58,455



50,612

Total current assets


717,217



649,453

Property, plant and equipment, net


146,522



117,665

Long-term marketable securities


3,637



3,101

Long-term deferred tax assets


4,447



4,979

Goodwill


551,326



501,536

Intangible assets, net


254,937



218,325

Other assets


85,169



64,066

Total assets

$

1,763,255


$

1,559,125

Liabilities and Stockholders' Equity






Current liabilities






Current portion of long-term debt

$


$

827

Accounts payable


98,192



61,758

Deferred revenue


35,421



31,357

Accrued warranty and retrofit costs


8,132



8,201

Accrued compensation and benefits


43,803



43,267

Accrued restructuring costs


29



181

Accrued income taxes payable


22,232



10,094

Accrued expenses and other current liabilities


103,251



55,433

Total current liabilities


311,060



211,118

Long-term debt


49,651



49,588

Long-term tax reserves


18,410



19,168

Long-term deferred tax liabilities


16,295



17,798

Long-term pension liabilities


6,536



6,406

Long-term operating lease liabilities


45,034



31,855

Other long-term liabilities


8,440



9,578

Total liabilities


455,426



345,511

Stockholders' Equity






Preferred stock, $0.01 par value - 1,000,000 shares authorized, no shares issued or outstanding




Common stock, $0.01 par value - 125,000,000 shares authorized, 87,758,598 shares issued and
74,296,729 shares outstanding at June 30, 2021, 87,293,710 shares issued and 73,831,841
shares outstanding at September 30, 2020


878



873

Additional paid-in capital


1,965,705



1,942,850

Accumulated other comprehensive income


26,619



21,919

Treasury stock at cost - 13,461,869 shares


(200,956)



(200,956)

Accumulated deficit


(484,417)



(551,072)

Total stockholders' equity


1,307,829



1,213,614

Total liabilities and stockholders' equity

$

1,763,255


$

1,559,125


BROOKS AUTOMATION, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(In thousands)









Nine Months Ended


June 30,


2021


2020

Cash flows from operating activities






Net income

$

88,942


$

35,880

Adjustments to reconcile net income to net cash provided by operating activities:






Depreciation and amortization


48,684



49,760

Impairment of property, plant and equipment




301

Stock-based compensation


20,277



12,348

Amortization of premium on marketable securities and deferred financing costs


169



177

Deferred income taxes


(10,293)



(9,319)

Other gains on disposals of assets


225



163

Adjustment to the gain on divestiture, net of tax


948



319

Taxes paid stemming from divestiture




(91,500)

Changes in operating assets and liabilities, net of acquisitions:






Accounts receivable


(40,286)



(15,719)

Inventories


(32,532)



(17,695)

Prepaid expenses and current assets


4,000



12,554

Accounts payable


23,327



11,032

Deferred revenue


(1,564)



214

Accrued warranty and retrofit costs


(286)



580

Accrued compensation and tax withholdings


(338)



1,928

Accrued restructuring costs


(153)



(609)

Accrued expenses and current liabilities


21,625



(4,347)

Net cash provided by (used in) operating activities


122,745



(13,933)

Cash flows from investing activities






Purchases of property, plant and equipment


(34,606)



(29,685)

Purchases of marketable securities


(100)



(10,843)

Sales of marketable securities


25



2,492

Maturities of marketable securities


25



42,226

Adjustment to proceeds from divestiture


(1,802)



Acquisitions, net of cash acquired


(92,375)



(15,743)

Disbursement for a loan receivable




Issuance of a note receivable




(1,000)

Proceeds from sales of property, plant and equipment




Net cash used in investing activities


(128,833)



(12,553)

Cash flows from financing activities






Proceeds from term loans, net of discount




Proceeds from issuance of common stock


2,583



2,332

Payments of financing costs




Principal payments on debt


(828)



(828)

Payments of finance leases


(915)



(957)

...

Common stock dividends paid


(22,288)



(22,127)

Net cash used in financing activities


(21,448)



(21,580)

Effects of exchange rate changes on cash and cash equivalents


7,582



3,095

Net decrease in cash, cash equivalents and restricted cash


(19,954)



(44,971)

Cash, cash equivalents and restricted cash, beginning of period


302,526



305,171

Cash and cash equivalents and restricted cash, end of period

$

282,572


$

260,200







Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets






Cash and cash equivalents

$

269,862


$

256,633

Short-term restricted cash included in prepaid expenses and other current assets


3,570



3,567

Long-term restricted cash included in other assets


9,140



Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows

$

282,572


$

260,200



















Notes on Non-GAAP Financial Measures:

These financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures. Management adjusts the GAAP results for the impact of amortization of intangible assets, restructuring charges, purchase price accounting adjustments and charges related to M&A to provide investors better perspective on the results of operations which the Company believes is more comparable to the similar analysis provided by its peers. Management also excludes special charges and gains, such as impairment losses, gains and losses from the sale of assets, as well as other gains and charges that are not representative of the normal operations of the business. For the nine months ended June 30, 2021, management has excluded a charge related to liabilities for import tariffs related to imports in prior fiscal years. The cost of import tariffs which pertain to the current fiscal year imports were not removed from non-GAAP results. Management strongly encourages investors to review our financial statements and publicly-filed reports in their entirety and not rely on any single measure.






















Quarter Ended



June 30, 2021


March 31, 2021


June 30, 2020





per diluted




per diluted




per diluted

Dollars in thousands, except per share data


$


share


$


share


$


share

Net income from continuing operations


$

39,170


$

0.53


$

23,932


$

0.32


$

13,696


$

0.19

Adjustments:



















Purchase accounting impact on inventory and contracts acquired



140



0.00









Amortization of intangible assets



11,085



0.15



9,920



0.13



10,390



0.14

Restructuring charges







92



0.00



(29)



(0.00)

Tariff adjustment







5,497



0.07





Merger and acquisition costs



6,269



0.08



11,843



0.16



10



0.00

Restructuring related charges











301



0.00

Other adjustments



(83)



(0.00)









Tax adjustments (1)



682



0.01



639



0.01



1,502



0.02

Tax effect of adjustments



(3,790)



(0.05)



(6,283)



(0.08)



(2,561)



(0.03)

Non-GAAP adjusted net income from continuing operations


$

53,473


$

0.72


$

45,640


$

0.61


$

23,309


$

0.32

Stock based compensation, pre-tax



6,086



0.08



6,710



0.09



3,725



0.05

Tax rate



15

%




15

%




15

%


Stock-based compensation, net of tax



5,173



0.07



5,704



0.08



3,166



0.04

Non-GAAP adjusted net income excluding stock-based compensation - continuing operations


$

58,646


$

0.79


$

51,344


$

0.69


$

26,475


$

0.36




















Shares used in computing non-GAAP diluted net income per share





74,495





74,414





73,860


















Nine Months Ended




June 30, 2021


June 30, 2020






per diluted




per diluted

Dollars in thousands, except per share data



$


share


$


share

Net income from continuing operations



$

90,110


$

1.21


$

36,062


$

0.49

Adjustments:














Purchase accounting impact on inventory and contracts acquired




140



0.00





Amortization of intangible assets




30,750



0.41



31,331



0.42

Restructuring related charges








301




Restructuring charges




179



0.00



1,125



0.02

Tariff adjustment




5,497



0.07





Merger and acquisition costs




21,104



0.28



484



0.01

Other adjustments




(83)



(0.00)







Tax adjustments (1)




(725)



(0.01)



(2,789)



(0.04)

Tax effect of adjustments




(12,906)



(0.17)



(8,113)



(0.11)

Non-GAAP adjusted net income from continuing operations



$

134,066


$

1.80


$

58,401


$

0.79

Stock-based compensation, pre-tax




20,277



0.27



12,348



0.17

Tax rate




15

%




15

%


Stock-based compensation, net of tax




17,235


$

0.23



10,496



0.14

Non-GAAP adjusted net income excluding stock-based compensation - continuing operations



$

151,301


$

2.03


$

68,897


$

0.93















Shares used in computing non-GAAP diluted net income per share






74,420





73,766

(1)

Tax adjustments primarily related to stock compensation windfall benefit. The Company elected to apply the tax benefit related to the stock compensation windfall realized in the quarters ended March 31, 2021 and 2020 to the non-GAAP full year tax rate. The Company elected to exclude a deferred tax benefit realized in the three month period ended March 31, 2020 related to the extension of the 15 percent tax rate incentive in China.



















Quarter Ended


Nine Months Ended



June 30,


March 31,


June 30,


June 30,


June 30,

Dollars in thousands


2021


2021


2020


2021


2020

GAAP net income


$

39,166


$

23,748


$

13,696


$

88,942


$

35,880

Adjustments:
















Less: Loss from discontinued operations



4



184





1,168



182

Less: Interest income



(409)



(18)



(29)



(503)



(865)

Add: Interest expense



477



452



810



1,485



2,265

Add: Income tax benefit



9,370



6,288



5,120



20,428



5,557

Add: Depreciation



6,055



5,877



6,290



17,933



18,429

Add: Amortization of completed technology



3,352



2,319



2,779



8,060



8,194

Add: Amortization of customer relationships and acquired intangible assets



7,733



7,601



7,611



22,690



23,137

Earnings before interest, taxes, depreciation and amortization


$

65,748


$

46,451


$

36,277


$

160,203


$

92,779



















Quarter Ended


Nine Months Ended



June 30,


March 31,


June 30,


June 30,


June 30,

Dollars in thousands


2021


2021


2020


2021


2020

Earnings before interest, taxes, depreciation and amortization


$

65,748


$

46,451


$

36,277


$

160,203


$

92,779

Adjustments:
















Add: Stock-based compensation



6,086



7,481



3,725



20,277



12,348

Add: Restructuring charges





92



(29)



179



1,125

Add: Restructuring related charges







301





301

Add: Purchase accounting impact on inventory and contracts acquired



140







140



Add: Merger and acquisition costs



6,269



11,843



10



21,104



484

Add: Tariff adjustment





5,497





5,497



Less: Other adjustments



(83)







(83)



Adjusted earnings before interest, taxes, depreciation and amortization


$

78,160


$

71,364


$

40,284


$

207,317


$

107,037






















Quarter Ended


Dollars in thousands


June 30, 2021


March 31, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

144,400


45.8

%


$

127,274


44.4

%


$

92,788


42.1

%

Adjustments:



















Amortization of completed technology



3,352


1.1




2,319


0.8




2,779


1.3


Restructuring related charges








0.0




301


0.1


Purchase accounting impact on inventory and contracts acquired



140


0.0









0.0


Other adjustment



(83)


(0.0)




5,497


1.9





0.0


Non-GAAP adjusted gross profit/gross margin percentage


$

147,809


46.9

%


$

135,090


47.1

%


$

95,868


43.5

%



































Nine Months Ended

Dollars in thousands


June 30, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

384,802


45.2

%


$

268,055


41.2

%

Adjustments:













Amortization of completed technology



8,060


0.9




8,194


1.3


Purchase accounting impact on inventory and contracts acquired



140


0.0






Restructuring related charges







301


0.0


Other adjustment



(83)


0.0








Tariff adjustment



5,497


0.6






Non-GAAP adjusted gross profit/gross margin percentage


$

398,416


46.8

%


$

276,550


42.5

%






















Brooks Semiconductor Solutions Group



Quarter Ended

Dollars in thousands


June 30, 2021


March 31, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

81,973


44.0

%


$

69,413


44.2

%


$

53,524


42.1

%

Adjustments:



















Amortization of completed technology



1,178


0.6




298


0.2




717


0.6


Purchase accounting impact on inventory and contracts acquired



140


0.1










Non-GAAP adjusted gross profit/margin percentage


$

83,291


44.7

%


$

69,711


44.4

%


$

54,241


42.7

%








































Brooks Life Sciences Products


Brooks Life Sciences Services



Quarter Ended


Quarter Ended

Dollars in thousands


June 30, 2021


March 31, 2021


June 30, 2020


June 30, 2021


March 31, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

22,655


46.6

%


$

24,051


45.9

%


$

13,258


43.6

%


$

39,772


49.4

%


$

33,813


43.8

%


$

26,006


41.4

%

Adjustments:





































Amortization of completed technology



432


0.9




280


0.5




287


0.9




1,742


2.2




1,741


2.3




1,776


2.8


Restructuring related charges























301


0.5


Other adjustment















(83)


(0.1)










Tariff adjustment



















5,497


7.1






Non-GAAP adjusted gross profit/margin percentage


$

23,087


47.5

%


$

24,331


46.5

%


$

13,545


44.5

%


$

41,431


51.5

%


$

41,051


53.2

%


$

28,083


44.7

%



























































Brooks Life Sciences Total



Quarter Ended

Dollars in thousands


June 30, 2021


March 31, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

62,428


48.4

%


$

57,864


44.7

%


$

39,264


42.1

%

Adjustments:



















Amortization of completed technology



2,173


1.7




2,021


1.6




2,063


2.2


Restructuring related charges











301


0.3


Other adjustment



(83)


(0)










Tariff adjustment







5,497


4.2






Non-GAAP adjusted gross profit/margin percentage


$

64,518


50.0

%


$

65,382


50.5

%


$

41,628


44.6

%
















Brooks Semiconductor Solutions Group



Nine Months Ended

Dollars in thousands


June 30, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

207,175


43.6

%


$

148,443


40.0

%

Adjustments:













Amortization of completed technology



1,860


0.4




2,172


0.6


Purchase accounting impact on inventory and contracts acquired



140


0.0






Non-GAAP adjusted gross profit/margin percentage


$

209,175


44.1

%


$

150,615


40.6

%



























Brooks Life Sciences Products

Brooks Life Sciences Services



Nine Months Ended

Nine Months Ended

Dollars in thousands


June 30, 2021


June 30, 2020

June 30, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

67,238


45.9

%


$

39,016


42.8

%

$

110,395


47.9

%


$

80,596


42.6

%

Adjustments:
























Amortization of completed technology



985


0.7




872


1.0



5,215


2.3




5,151


2.7


Restructuring related charges














301


0.2


Other adjustment










(83)


(0.0)






Tariff adjustment










5,497


2.4






Non-GAAP adjusted gross profit/margin percentage


$

68,223


46.6

%


$

39,888


43.8

%

$

121,024


52.6

%


$

86,047


45.5

%








































Brooks Life Sciences Total



Nine Months Ended

Dollars in thousands


June 30, 2021


June 30, 2020

GAAP gross profit/margin percentage


$

177,633


47.1

%


$

119,612


42.7

%

Adjustments:













Amortization of completed technology



6,200


1.6




6,023


2.1


Restructuring related charges







301


0.1


Other adjustment



(83)


(0.0)






Tariff adjustment



5,497


1.5






Non-GAAP adjusted gross profit/margin percentage


$

189,247


50.2

%


$

125,935


44.9

%











































































Brooks Semiconductor Solutions Group


Brooks Life Sciences Products


Brooks Life Sciences Services


Brooks Life Sciences Total



Quarter Ended


Quarter Ended


Quarter Ended


Quarter Ended



June 30,


March 31,


June 30,


June 30,


March 31,


June 30,


June 30,


March 31,


June 30,