Semiconductor equipment maker Brooks Automation Inc. (BRKS: Quote), Thursday reported a plunge in profit for the second quarter, hurt mainly by lower revenues and increased operating costs. However, both earnings and revenues for the quarter came in ahead of analysts' estimates. Following the news, shares of the company rose over 11 percent in after hours trade.
Net income attributable to the company for the second quarter was $9.5 million or $0.14 per share, compared to $26.6 million or $0.41 per share last year.
Adjusted net income for the quarter was $13.0 million or $0.20 per share. On average, seven analysts polled by Thomson Reuters expected earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the second quarter grew to $139.3 million from $192.7 million in the second quarter last year. Analysts estimated revenues of $136.26 million for the quarter.
Gross profit margin advanced to 34.7 percent for the quarter from 32.0 percent last year, impacted by the Life Science Systems acquisitions and the Contract Manufacturing divestiture.
Total operating expenses increased to $39.9 million from $34.9 million last year.
Looking forward to the third quarter, the company expects earnings in a range of $0.13 to $0.18 per share, adjusted earnings of $0.15 to $0.20 per share, and revenues of $140 million to $147 million. Analysts currently estimate earnings of $0.21 per share and revenues of $144.68 million for the quarter.
The company declared a dividend of $0.08 per share, payable on June 29 to stockholders of record on June 8.
by RTT Staff Writer
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