Exhibit 99.1
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Q2 Fiscal 2008 Financial Results Conference Call May 8, 2008 4:30 p.m. ET |
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Earnings in line with Guidance Q1 FY08 $000's Q1 FY08 DEPS Q2 FY08 $000's Q2 FY08 DEPS YTD FY08 $000's YTD FY08 DEPS Reported Loss from Continuing Operations (1,419) ($0.02) (8,664) ($0.14) (10,083) ($0.15) Add: Restructuring Expense 600 $0.01 2,506 $0.04 3,106 $0.05 Add; Loss on Investment - - 2,931 $0.05 2,931 $0.05 Loss before Special Charges from Cont Ops ( 819) ($0.01) (3,227) ($0.05) (4,046) ($0.06) Guidance: Loss before Special Charges $.00 - ($0.10) |
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Operating Profits impacted by mix and cost $000's Q1 FY08 Q2 FY08 YTD FY08 Comments on Sequential Trends Revenues 147,833 147,647 295,480 $1.5 m declines in Automated Systems revenues Gross profit 38,449 36,439 74,888 Mix and warranty costs Research & development 12,432 11,553 23,985 Cycling to the end of some development programs SG&A 29,103 29,896 58,999 Receivable collection and legal costs Restructuring charges 600 2,506 3,106 New Q2 actions Operating Income ( 3,686) ( 7,516) (11,202) |
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Impairment Charge and Lower Interest impact Sequential Results $000's Q1 FY08 Q2 FY08 YTD FY08 Comments on Sequential Trends Operating income (3,686) (7,516) (11,202) Interest income, net 3,076 1,496 4,572 Lower rates & impact of lower cash holdings Loss on investment 0 (2,931) ( 2,931) Permanent impairment charge Other income (expense) ( 343) 1,161 818 Favorable foreign currency impacts Income tax provision ( 670) ( 885) ( 1,555) Minorities & joint ventures 204 11 215 Operating Profit ( 1,419) ( 8,664) (10,083) |
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Critical Components Segment $000's Q1 FY08 Q2 FY08 YTD FY08 Comments on Sequential Trends Revenues 34,696 35,136 69,832 Stronger January & February revenues Gross profit Gross margin% 12,843 37.0% 13,286 37.8% 26,129 37.4% Volume fall through and manufacturing effectiveness Operating expenses 8,696 9,604 18,300 Higher research & development, corporate allocations Segment Operating Income 4,147 3,682 7,829 |
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Automated Systems Segment $000's Q1 FY08 Q2 FY08 YTD FY08 Comments on Sequential Trends Revenues 83,070 81,527 164,597 Lower license revenues Gross profit Gross margin % 19,779 23.8% 16,997 20.8% 36,776 22.3% Revenue Mix, warranty costs and freight costs Operating expenses 24,643 24,091 48,734 Lower r&d spending Segment Operating Income ( 4,864) ( 7,094) (11,958) |
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Global Customer Support Segment $000's Q1 FY08 Q2 FY08 YTD FY08 Comments on Sequential Trends Revenues 30,067 30,984 61,051 Strong March service revenues Gross profit Gross margin % 5,817 19.3% 6,156 19.9% 11,973 19.6% Volume fall through to gross margin Operating expenses 6,501 5,967 12,468 Cost control Segment Operating Income ( 684) 189 ( 495) |
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Q2 FY08 Cash Flows Net Income from Continuing Operations ( 8,664) ( 8,664) Depreciation & Amortization 8,525 8,525 Stock based compensation 2,534 2,534 Loss on investment 2,931 2,931 Other non-cash items ( 78) ( 78) Change in assets 6,087 6,087 Cash flow from Continuing Operations Cash flow from Continuing Operations 11,335 Capital Expenditures Capital Expenditures ( 6,225) Stock repurchases Stock repurchases (60,986) Currency Currency 2,289 Other Other 1,473 Net change in cash and marketable securities Net change in cash and marketable securities (52,114) * Adjusted EBITDA of $7.2 million NWC to Sales improvement Oracle ERP Capital Expenditures $4.0 million + = Solid Cash Flows *Net Loss for Q2 FY08 was $8.7 million. A reconciliation of Adjusted EBITDA to Brooks' Net Loss is included in the earnings release issued on May 8, 2008 |
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Share Repurchase Program* November 9 - December 31, 2007 2,258,186 $12.93 $29.2m January 1 - March 31, 2008 5,143,683 $11.86 $61.0m Total 7,401,869 $12.19 $90.2m * Brooks announced the Board had authorized a $200m stock repurchase plan on November 9, 2007 Shares Purchased Cash Average Price |
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2008 June Quarter Guidance Revenues could be in the range between $125 million and $140 million Loss from Continuing Operations before special Charges could be in the range of breakeven to ($0.12) |