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Brooks Automation Q1 Profit Down

Brooks Automation Inc. (BRKS) reported a profit for first quarter that decreased from the same period last year.

The company's profit dropped to $13.2 million or $0.18 per share, compared to $14.4 million or $0.20 per share last year.

Excluding items, Brooks Automation Inc. reported adjusted earnings of $0.23 per share for the period, up from $0.17 per share last year. On average, analysts polled by Thomson Reuters estimated earnings of $0.23 per share for the quarter.

The company's revenue for the quarter rose 17% to $210 million from $179 million last year. Analysts had a consensus revenue estimate of $207.24 million.

"The results of our first fiscal quarter of 2020 showed good growth in each segment and we are solidly on track for a strong year," commented Steve Schwartz, CEO of Brooks Automation. "Our Semiconductor Solutions business was lifted by another record quarter of revenue from Contamination Control Solutions, we delivered another quarter of gross margin improvement in Life Sciences Sample Management, and we had strong cash flow from operations."

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