Brooks Automation Reports First Quarter Financial Results

-- Diluted Earnings per Share of $0.36
-- Excluding Special Charges Adjusted Diluted Earnings of $0.37

CHELMSFORD, Mass., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Brooks Automation, Inc.
(Nasdaq:BRKS) announced financial results for the Company's first quarter of
fiscal year 2011 ended on December 31, 2010.

Revenues for the first quarter of fiscal 2011 were $178.4 million, compared to
revenues of $106.2 million in the first quarter of fiscal 2010, an increase of
68.0%. Sequentially, revenues declined 1.8% from fourth quarter fiscal 2010
revenues of $181.6 million.

Net income attributable to Brooks Automation, Inc. ("Brooks") for the first
quarter of fiscal 2011 amounted to $23.5 million, or $0.36 per diluted share.

Excluding special charges, the adjusted net income of $23.7 million or $0.37
per diluted share compares on a sequential basis with $24.4 million or $0.38 per
diluted share and improves from a loss of $(1.1) million or $(0.02) per diluted
share in the first quarter of fiscal 2010. Special charges and their impact on
comparative results are identified in the unaudited table included with this
release. Including special charges, the Net Income attributable to Brooks in the
fourth quarter was $24.2 million or $0.38 per diluted share and the Net Loss
attributable to Brooks in the first quarter of fiscal 2010 was $(2.8) million or
$(0.04) per diluted share.

Adjusted Earnings before Interest, Tax, Depreciation and Amortization for the
first quarter of fiscal 2011 was $29.9 million, which compared to $29.7 million
in the fourth quarter of fiscal 2010 and $5.6 million in the first quarter of
fiscal 2010. A reconciliation of non-GAAP measures to the most nearly comparable
GAAP measure follows the consolidated statements of operations, balance sheets
and statements of cash flows included in this release.

Net cash provided by operating activities for the first quarter of fiscal 2011
was $17.7 million, which net of capital expenditures of $1.6 million resulted in
an increase of total cash and marketable securities to $157.9 million at
December 31, 2010.

Martin S. Headley, Executive Vice-President and Chief Financial Officer
observed, "Continued margin expansion in each of our segments resulted in
continued sequential growth in Operating Profits and Adjusted EBITDA. The
increase in operating profitability was offset by the anticipated $1.5 million
increase in our income tax provision that resulted in our small step back in
reported earnings. Margin expansion also drove the Company to exceed profit and
earnings projections on revenues comparable with guidance."

Commenting on recent activities, Stephen S. Schwartz, Chief Executive Officer
and President of Brooks stated, "Our developing strength across a broad universe
of OEMs is expanding our market share and leading us to many new opportunities
in adjacent markets. Although we have experienced a moderated start to the
fiscal year, we are firmer in our assurance that fiscal 2011 will represent a
strong year in growth of revenues and earnings over fiscal 2010."

Dr. Schwartz added, "We believe that we are well positioned to start putting our
strong balance sheet to work in fueling our growth strategy of expanded presence
outside of our traditional markets."

Brooks management will web cast its first quarter earnings conference tomorrow
at 10:00 a.m. Eastern Time to discuss the attached quarterly results and
business highlights. During the call, Company management will respond to
questions concerning, but not limited to, the Company's financial performance,
business conditions and industry outlook. Their responses could contain
information that has not been previously disclosed.

Analysts, investors and members of the media can access the live broadcast
available on Brooks' website at www.brooks.com. The call will be archived on
this website for convenient on-demand replay.

About Brooks Automation, Inc.

Brooks is a leading worldwide provider of automation, vacuum and instrumentation
solutions to the global semiconductor and related industries. Our products and
services are meeting the needs of customers across a broad spectrum of
applications and industries and the global semiconductor manufacturing sector is
our largest served market. When demanding productivity and availability
objectives are essential factors for success, customers throughout the world
turn to Brooks Automation, Inc. For more information go to www.brooks.com or
email sales@brooks.com.

"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
statements regarding our revenue and operating margin expectations, our ability
to develop further our business in new and adjacent markets, and our ability to
achieve financial success in the future. Factors that could cause results to
differ from our expectations include the following: volatility of the industries
the Company serves, particularly the semiconductor industry; our possible
inability to meet increased 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; continuing uncertainties
in global political and economic conditions, and other factors and other risks
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.

BROOKS AUTOMATION, INC.
CONSOLIDATED BALANCE SHEETS
(unaudited)
(In thousands, except share and per share data)

December September
31, 2010 30, 2010
----------- -----------
Assets
Current assets
Cash and cash equivalents $62,312 $59,823
Marketable securities 50,662 49,011
Accounts receivable, net 87,613 92,273
Inventories, net 127,143 115,787
Prepaid expenses and other
current assets 8,416 10,437
----------- -----------
Total current assets 336,146 327,331
Property, plant and equipment,
net 61,985 63,669
Long-term marketable
securities 44,953 33,593
Goodwill 48,138 48,138
Intangible assets, net 10,194 11,123
Equity investment in joint
ventures 32,519 31,746

Other assets 2,640 2,624
----------- -----------

Total assets $536,575 $518,224
=========== ===========
Liabilities and equity
Current liabilities
Accounts payable $62,323 $65,734
Deferred revenue 4,024 4,365
Accrued warranty and retrofit
costs 7,882 8,195
Accrued compensation and
benefits 11,804 13,677
Accrued restructuring costs 2,525 3,509
Accrued income taxes payable 1,104 1,040
Accrued expenses and other
current liabilities 12,032 11,635
----------- -----------
Total current liabilities 101,694 108,155
Income taxes payable 12,590 12,446
Long-term pension liability 5,610 5,466

Other long-term liabilities 2,812 2,805
----------- -----------

Total liabilities 122,706 128,872
----------- -----------
Contingencies
Equity
Preferred stock, $0.01 par
value, 1,000,000 shares
authorized, no shares issued
and outstanding -- --
Common stock, $0.01 par
value, 125,000,000 shares
authorized, 78,898,626
shares issued and 65,436,757
shares outstanding at
December 31, 2010,
78,869,331 shares issued and
65,407,462 shares
outstanding at September 30,
2010 789 789
Additional paid-in capital 1,803,390 1,803,121
Accumulated other
comprehensive income 20,272 19,510
Treasury stock at cost,
13,461,869 shares at
December 31, 2010 and
September 30, 2010 (200,956) (200,956)

Accumulated deficit (1,210,163) (1,233,649)
----------- -----------
Total Brooks Automation,
Inc. stockholders' equity 413,332 388,815
Noncontrolling interest in
subsidiaries 537 537
----------- -----------

Total equity 413,869 389,352
----------- -----------

Total liabilities and equity $536,575 $518,224
=========== ===========

BROOKS AUTOMATION, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
(In thousands, except per share data)

Three months ended

December 31,
------------------

2010 2009
-------- --------
Revenues
Product $161,424 $91,521

Services 16,943 14,676
-------- --------

Total revenues 178,367 106,197
-------- --------
Cost of revenues
Product 109,203 67,245

Services 11,845 12,706
-------- --------

Total cost of revenues 121,048 79,951
-------- --------

Gross profit 57,319 26,246
-------- --------
Operating expenses
Research and development 8,898 7,541
Selling, general and
administrative 24,478 18,979

Restructuring charges 214 1,522
-------- --------

Total operating expenses 33,590 28,042
-------- --------
Operating income (loss) 23,729 (1,796)
Interest income 275 328
Interest expense 1 16
Loss on investment -- 191

Other (income) expense, net (161) 197
-------- --------
Income (loss) before income
taxes and equity in
earnings (losses) of joint
ventures 24,164 (1,872)

Income tax provision 988 635
-------- --------
Income (loss) before equity
in earnings (losses) of
joint ventures 23,176 (2,507)
Equity in earnings (losses)
of joint ventures 310 (370)
-------- --------
Net income (loss) $23,486 $(2,877)
Add: Net loss attributable
to noncontrolling
interests -- 82
-------- --------
Net income (loss)
attributable to Brooks
Automation, Inc. $23,486 $(2,795)
======== ========

Basic net income (loss) per
share attributable to
Brooks Automation, Inc.
common stockholders $0.37 $(0.04)
======== ========
Diluted net income (loss)
per share attributable to
Brooks Automation, Inc.
common stockholders $0.36 $(0.04)
======== ========
Shares used in computing
earnings (loss) per share
Basic 64,263 63,394
Diluted 64,475 63,394

BROOKS AUTOMATION, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In thousands)

Three months ended

December 31,
------------------

2010 2009
-------- --------
Cash flows from operating activities
Net income (loss) $23,486 $(2,877)
Adjustments to reconcile net income
(loss) to net cash provided by
operating activities:
Depreciation and amortization 4,274 4,794
Stock-based compensation 1,209 1,517
Amortization of premium on marketable
securities 410 136
Undistributed (earnings) losses of
joint ventures (310) 370
Gain on disposal of long-lived assets (13) --
Loss on investment -- 191
Changes in operating assets and
liabilities, net of acquisitions and
disposals:
Accounts receivable 4,949 (14,759)
Inventories (11,289) (5,163)
Prepaid expenses and other current
assets 2,117 (834)
Accounts payable (3,424) 19,902
Deferred revenue (330) 1,199
Accrued warranty and retrofit costs (314) 32
Accrued compensation and benefits (2,810) (2,834)
Accrued restructuring costs (985) (605)

Accrued expenses and other 713 413
-------- --------
Net cash provided by operating
activities 17,683 1,482
-------- --------
Cash flows from investing activities
Purchases of property, plant and
equipment (1,638) (461)
Purchases of marketable securities (38,704) (43,983)
Sale/maturity of marketable securities 25,225 29,853

Proceeds from the sale of investment -- 240
-------- --------
Net cash used in investing
activities (15,117) (14,351)
-------- --------
Effects of exchange rate changes on cash
and cash equivalents (77) 48
-------- --------
Net increase (decrease) in cash and cash
equivalents 2,489 (12,821)
Cash and cash equivalents, beginning of
period 59,823 59,985
-------- --------

Cash and cash equivalents, end of period $62,312 $47,164
======== ========

BROOKS AUTOMATION, INC.
Supplemental Information
(In thousands, except per share data)
(unaudited)

Notes on Non-GAAP Financial Measures:

The information in this press release is for: internal managerial purposes; when
publicly providing guidance on future results; and as a means to evaluate
period-to-period comparisons. 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 believes
these financial measures provide an additional way of viewing aspects of our
operations, that, when viewed with our GAAP results and the accompanying
reconciliations to the corresponding GAAP financial measures, provide a more
complete understanding of our business. Management strongly encourages investors
to review our financial statements and publicly-filed reports in their entirety
and not rely on any single measure.

The press release includes financial measures which exclude the effects of
non-recurring income and special charges such as restructuring charges and gains
or losses on investments. Management believes these measures are useful to
investors because it eliminates accounting charges that do not reflect Brooks'
day-to-day operations. A table reconciling income (loss) and diluted earnings
(loss) per share from operations is presented below:

Quarter ended

----------------------------------------------------------------

December 31, 2010 September 30, 2010
December 31, 2009
-------------------- -------------------
---------------------

per

$ per share $ share
$ per share
--------- --------- ---------- -------
---------- ---------

Net income (loss) attributable to

Brooks Automation, Inc. $ 23,486 $ 0.36 $ 24,176 $ 0.38
$ (2,795) $ (0.04)

Restructuring charges 214 0.00 235 0.00
1,522 0.02
Loss on investment -- -- -- --
191 0.00

--------- --------- ---------- -------
---------- ---------
Adjusted net income (loss)

attributable to Brooks

Automation, Inc. 23,700 0.37 24,411 0.38
(1,082) (0.02)

Stock-based compensation 1,209 0.02 1,678 0.03
1,517 0.02
--------- --------- ---------- -------
---------- ---------

Adjusted net income attributable

to Brooks Automation, Inc.,

excluding stock-based

compensation $ 24,909 $ 0.39 $ 26,089 $ 0.41
$ 435 $ 0.01
========= ========= ========== =======
========== =========

Quarter ended

--------------------------------

Dec 31, Sept 30, Dec 31,

2010 2010 2009

--------- --------- ----------

Net income (loss) attributable to

Brooks Automation, Inc. $ 23,486 $ 24,176 $ (2,795)

Less: Interest income (275) (307) (328)

Add: Interest expense 1 46 16

Add: Income tax provision

(benefit) 988 (527) 635

Add: Depreciation 3,345 3,419 3,846

Add: Amortization of completed

technology 479 479 457

Add; Amortization of acquired

intangible assets 450 493 491

Add: Stock-based compensation 1,209 1,678 1,517

Add: Restructuring charges 214 235 1,522

Add: Loss on investment -- -- 191

--------- --------- ----------

Adjusted EBITDA $ 29,897 $ 29,692 $ 5,552

========= ========= ==========

CONTACT: Barbara Culhane
Corporate Marketing Manager
Brooks Automation, Inc.
978-262-2400
www.brooks.com