UPDATE 2-Brooks Automation Q1 loss wider than view, shares fall

Fri Feb 5, 2010 12:14pm EST

* Q1 adj loss $0.02/shr vs est of breakeven

* Q1 revenue rises 45 pct

* Shares fall as much as 15 pct (Recasts, adds analyst comments, updates share movement)

By Shrutika Verma

BANGALORE, Feb 5 (Reuters) - Diversified manufacturer Brooks Automation Inc (BRKS.O) posted a wider-than-expected first-quarter loss, sending its shares down as much as 15 percent.

"They did not deliver the type of operating margins that investors were expecting despite pretty good growth on revenues," Caris & Co analyst Benedict Pang said.

However, the company forecast second-quarter revenue to grow at least 35 percent on strong bookings and shipments.

"Our customers are currently projecting strong demand over the course of the next several quarters and we believe that trend will translate into excellent financial performance for Brooks in the quarters ahead," Chief Executive Robert Lepofsky said in a statement.

Analyst Pang said, "The issue is that there is also a concern that the industry is reaching its peak, the acceleration and the improvement is going to slow down."

For the first quarter ended Dec. 31, the company reported a net loss of $2.8 million, or 4 cents a share, compared with a loss of $35.1 million, or 56 cents a share, a year ago.

Excluding items, the company posted a loss was 2 cents a share.

Revenue rose 45 percent to $106.2 million.

Analysts on average had expected the company to break even on a per-share basis, before special items, on revenue of $94.1 million, according to Thomson Reuters I/B/E/S. While total operating expenses fell 32 percent, total cost of revenue rose 19 percent.

Shares of the company were down 12 percent at $7.50 in midday trade Friday on Nasdaq. They touched a low of $7.27 earlier in the session. (Additional reporting by Fareha Khan; Editing by Ratul Ray Chaudhuri, Gopakumar Warrier)

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