20th Annual Needham Growth Conference PresentationAnnual... · 2018. 3. 5. · Brooks Automation at...

Brooks Automation

Needham Growth ConferenceJanuary 2018

1

Safe Harbor Statement

“Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Actof 1995; certain matters in this presentation, including forecasts of future demandand future Company performance, are forward-looking statements that aresubject to risks and uncertainties that could cause actual results to materiallydiffer, either better or worse, from those projected. Further discussions of riskfactors are available in the Company’s most recent SEC filings, including theannual report on Form 10-K for the fiscal year ended September 30, 2017 andany subsequent quarterly reports on Form 10-Q. The Company assumes noobligation to update the information in this presentation.obligation to update the information in this presentation.

Regulation GThis presentation contains certain non-GAAP measures which are providedto assist in an understanding of the Brooks business and its operationalperformance. These measures should always be considered in conjunction withthe appropriate GAAP measure. Reconciliations of all non-GAAP amounts to therelevant GAAP amount are provided as an attachment to this presentation.

© 2018 Brooks Automation, Inc. • Proprietary Information 3

Life Sciences Sample Management

Semiconductor Capital Equipment

Brooks Automation at a Glance

79% of Revenue• Fab Automation Solutions

• Contamination Control Solutions

• Cryogenic Vacuum Products

• Global Service Support

21% of Revenue• End-to-End Cold Chain Management

• Automated Ultra Cold Storage Products

• Sample Storage Consumables

• Sample Management Outsourced Services

4

FY17 Revenue of $693M, +24% YoY• Based in Chelmsford, MA• ~2,000 employees• $0.40/share annual dividend

• Sales in 50 countries• Operations in 11 countries • > 500 base patents

© 2018 Brooks Automation, Inc. • Proprietary Information * Summary data shown as of Fiscal Year ending September 30, 2017.

B R O O K S A U T O M A T I O N

Driving Performance. Delivering Profitable Growth.

• Driving performance

• Building on two strong platforms

• Inflection point for profitable growth

5 © 2018 Brooks Automation, Inc. • Proprietary Information

W H A T W E D O

Enable Improved Results in ControlledOperating Environments

Technologies

Precise, reliable

SemiconductorCapital Equipment

• Precision handling– atmospheric & vacuum robots– integrated automation systems

• Clean wafer environments• Vacuum creation

Markets

Contaminant-free precision automation

reliable handling of sensitive

materials incontrolled

environments

• Vacuum creation– cryogenic pumps– cryochillers

• Services

Life Science Bio-SampleManagement and Storage

• Precision sample management– automated storage– storage services– informatics– consumables/instruments

6

Cryogenics

Vacuum creation

© 2018 Brooks Automation, Inc. • Proprietary Information

E X E C U T I O N

A Company on the Move to Higher Value and Higher Growth

• Matrical for $9M

• 22% of BioCision for $4M

• FluidX for $16M

• BioStorage Technologies for $125M

2011 / 12

2013 / 14

2015 / 16• BioCision add’l $11M

• PBMMI for $34M

• FreezerPro software for $5M

• 4titude Ltd. for $66M

2017 / 18Acquisitions� Life Sciences ~$355M

� Semi ~$100M

Dividends Paid ~$153M

• RTS for $3M

• Nexus for $85M

• Divested of Contract Manufacturing for $78M

• Crossing Automationfor $59M

for $4M

7

• Contact for $7M

• Divested of Granville-Phillips instrumentation for $87M

• DMS for $32M

2018 – In Semi and

Life Sciences

markets with leadership offerings

2011 – In Semi market with a range of offerings


$553 $560

$693

Track Record of Growth and Improving Profitability

$1.23

Revenue Earnings Per Share*

$M except EPS

$422

$483

FY13 FY14 FY15 FY16 FY17

8

$0.12

$0.25

$0.45 $0.47

FY13 FY14 FY15 FY16 FY17

And positioned for continued profitable growth

© 2018 Brooks Automation, Inc. • Proprietary Information * Non-GAAP financial measures – see reconciliation tables in the attached appendix.







Building on Two Strong Platforms

Semiconductor Capital Equipment

Life SciencesSample Management

FY17 Revenue: $544M

Q4’17 Revenue: $138M

FY17 Revenue: $149M


• Cryogenics• Robotic automationCore Competencies



Life SciencesSample Management

Today’s Samples

FY17 Revenue: $149M




Highly Strategic Assets

Critical to Speed of Research

Information Rich

Science Demands Continuous Care of the Sample

Collect

IdentifyResearch

andAnalyze


Process/Freeze

Track andStore

Transport

Cold Chain of Custody

Life Sciences Offerings Proven Success and Market Leadership

$108

$149+38%

Storage Services

AutomationInfrastructure

$M


FY16 FY17

Organic growth = 27%

Services

Consumables & Instruments

Infrastructure

Infrastructure Services Informatics

The Leader in Comprehensive Sample Management

Momentum of Growth

$21 $27

$29 $32 $33 $35 $37

$44 $47-49

$M Revenue

2017 Growth and Momentum

• Revenue +38% Organic +27%

14

Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Forecast

Operating Profit*

$(4) $(2) $0 $1$1

$2 $2 $2

Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17


($5M) $7M

• Bookings +30%

• Op Profit Increase of $11M

Systems / Instruments / Genomics

$240$M

$149

Life Sciences GrowthBusiness Model with Strong Foundation of Recurring Revenue

>30%

2013 2014 2015 2016 2017 2018 2019

Services / Consumables

$63 $68

$108


$43

15

Target

42%

53%

Guidance

Acquisitions will be Additional to the Target

Clients Are the World’s Premier Healthcare Organizations

Pharmaceutical / Biotech Healthcare / BioBanks Academ ic / Gov’t



Semiconductor Capital EquipmentToday’s Semiconductor

Manufacturing

FY17 Revenue: $544M




Vacuum Environments

Engineering for Precision & Throughput Efficiencies

Contaminant Free Yields

VacuumAutomation

#1#1

ContaminationControl

#1#1

+20%

B R O O K S S E M I C O N D U C T O R S O L U T I O N S O F F E R I N G S

Proven Success and Market Leadership

$M

$452

$544

18

Enabling a Process Advantage

Trusted GlobalService Platform

Cryogenic Pumping and Cooling#1#1

Automation#1#1

Control#1#1


Organic growth = 20%

FY16 FY17

Semiconductor Business is Well-Positioned in the Fastest Growing Segments of a $2B SAM

21%26%

42%

Brooks Revenue CAGR in Tech Driver Segments(FY13-FY17)

Leading edge process technology drives more than 50% of Brooks’ Semi revenue

19

21%26%

WFE MarketGrowth of 16%**

Deposition & Etch

Wafer-Level Packaging

Contamination Control*

** WFE growth from Gartner Research, Semiconductor Wafer Fab Equipment report, Oct’17 Update.© 2018 Brooks Automation, Inc. • Proprietary Information

* 2013 data from period prior to acquisition by Brooks.

Semi Revenue GrowthExtending Leadership Positions in Current Technology Trends

Atmos Dstn / IP

Cryopumps

Service / Other Auto

Semi Revenue

Overall GrowthFY17 +20% Growth

$99

$M

$109$118

$126 $127

$135

$145$138

Stable LeadershipFY17 +6% Growth (+16% Excl ATM / IP)

Stable Leadership


Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17

Service / Other Auto

Column3

Column1

Contamination Control

Wafer-Level Packaging

Deposition & Etch

Tech DriversFY17 +39% Growth

Tech Drivers

More than 50% of Revenue in High Growth Applications

Deposition & Etch Advanced Packaging Contamination Control

TEL NEXX, Inc.


Expanding Applications and Customer Base







Strategy Going Forward

Extend leadership in core markets1

Advance the rapid growth of Life Sciences with organic and acquisition investments2

3 Drive margin expansion3Utilize balanced and disciplined capital deployment4


• Product revenue growth 2-4 percentage points faster than WFE rate

• Gross margin expansion to 41%

• Operating expense

Life Sciences DriversSemiconductor Drivers

• Revenue growth to $240M

• Gross margin of 42-44%

• Operating expense

2019 Target Model

• Operating expense productivity

>15% Operating Margins

~30% of Brooks revenue

16-19%Operating Margins

~70% of Brooks revenue

Operating Margins in high teensROIC >13%

• Operating expense productivity


$M FY 2013 FY 2015 FY 2017 FY 2019

Total RevenueSemiLife Sciences

% of total

$422M $379M$43M10%

$553M $485M$68M12%

$693M $544M$149M21%

$800-$870M$560-$630M

$240M~30%

Gross Margin* 33.5% 35.4% 39.2% ~41%

Operating

2019 Target Model

Operating Expenses*% of Revenue

$136M32.2%

$159M28.8%

$179M25.8%

$190-$200M~24%

Operating Income*% of Revenue

$5M1.2%

$37M6.7%

$93M13.5%

$135-165M~18%

EBITDA*EPS*

$29M$0.12

$64M$0.45

$131M$1.23

$170-$200M$1.50-$1.80

** Excludes the impact of future acquisitions.

25 © 2018 Brooks Automation, Inc. • Proprietary Information * Non-GAAP financial measures – see reconciliation tables in the attached appendix.

Disciplined Capital Deployment

Over last five fiscal years,>$700M of capital deployed to enhance

shareholder returns

Balanced and Disciplined Capital Deployment

Organic Growth

• Invest in R&D, ~$50M annually

• ~$10M+ CAPEX annually

Shareholder Return

• Quarterly dividend of $0.10 per share

Acquisitions

• Semiconductor and Life Sciences

• Divestitures of $85M

• ROIC focus

$300M

42%

$288M

40%

$127M

18%


Note: Figures referenced represent the period from FY13 through FY17.

26

Acquisition Priorities

Life Science Expansion

� Storage Services, Informatics

� Expanding Cold Chain Capability

Semi will be Opportunistic

Focus:

27

ROIC hurdles Criteria:


Guidance Q1’18

$M except EPS Q1’17 Q2’17 Q3’17 Q4’17

GuidanceDec

Q1’18

Brooks RevenueAdj. Gross Margin*

$16036.3%

$16939.0%

$18240.0%

$18241.3%

$182-188~40%

Adjusted EBITDA*Op Cash Flow

$26$19

$31$25

$37$18

$37$35

$34-$38

28

Op Cash Flow $19 $25 $18 $35

Non-GAAP EPS* $0.25 $0.28 $0.36 $0.35 $0.27-$0.32

Dividends Per Share Returned to Shareholders

$0.10 $0.10 $0.10 $0.10 $0.10**

** The Board of Directors has approved a dividend of $0.10 per share payable on December 22, 2017 to stockholders of record on December 1, 2017.


I N S U M M A R Y


ImprovingFinancial

Performance

AttractiveLong Term

Financial Model

Track Record of Effective Capital

Deployment

� Revenue growth

� Margin expansion

� Semi margin leverage and productivity

� Internal investment

� Successful acquisitions� Margin expansion

� EPS acceleration

and productivity

� Life Sciences high growth

� Successful acquisitions

� Capital to shareholders

29

Semiconductors

Life Sciences


GAAP to Non-GAAP Reconciliations

30

Non-GAAP Operating Performance

$ millions FY13 FY14 FY15 FY16 FY17

Revenue 422 483 553 560 693

Gross profit* 141 175 196 203 272

Gross profit margin* 33.5 % 36.2 % 35.4 % 36.2 % 39.2 %

R&D expenses 46 53 52 52 47 SG&A expenses* 90 102 107 115 132

Operating income * 5 20 37 36 93

Operating margin* 1.2 % 4.2 % 6.6 % 6.4 % 13.5 %

31

© 2018 Brooks Automation, Inc. • Proprietary Information * Non-GAAP financial measures – see reconciliation tables within this appendix. 2013 and 2014 results shown on continuing operations basis.


Other income (expense) 2 1 3 (0) (1) Tax benefit (provision)* (2) (5) (10) (5) (15) JV earnings (losses)* 2 1 1 2 10

Net income* 8 17 31 33 87

Net income margin* 1.8 % 3.6 % 5.5 % 5.8 % 12.6 %

Diluted Non-GAAP EPS - Continuing Ops* 0.12 0.25 0.45 0.47 1.23

Diluted GAAP EPS - Continuing Ops (0.11) 0.02 0.21 (1.01) 0.89

Adjusted EBITDA* 29 45 64 63 131

Non-GAAP Segment Operating Performance


Revenue 379 420 485 452 544

Gross profit* 123 149 176 162 215


Operating expenses 107 121 122 121 126

Operating income * 16 28 54 41 89


Semiconductor Solutions

Brooks

32

© 2018 Brooks Automation, Inc. • Proprietary Information * Non-GAAP financial measures – see reconciliation tables within this appendix. 2013 and 2014 results shown on continuing operations basis.



Revenue 43 63 68 108 149

Gross profit* 18 26 20 41 57


Operating expenses 27 32 37 46 50

Operating income * (8) (6) (17) (5) 7

Operating margin* (19.1)% (9.4)% (25.0)% (4.6)% 4.4 %

Brooks

Life Science Systems

FY13 GAAP to Non-GAAP ReconciliationConsolidated Results

$ millions, except EPS

GAAP

Results

Acquisition-

Related Costs

Amortization

Expense

Restructuring

Charges

Impairment

Charges

Gain from

Asset

Disposal

Non-GAAP

Results

Revenue 422.4 - - - - - 422.4

Gross profit 132.3 3.0 4.1 - 1.9 - 141.3

Gross profit margin 31.3% 33.5%

Research and development (46.2) - - - - - (46.2)

Selling, general and administrative (96.5) 0.9 5.7 - 0.1 - (89.8)

Restructuring charges (6.4) - - 6.4 - - 0.0

Operating profit (16.8) 4.0 9.8 6.4 2.0 - 5.3

Operating profit margin (4.0%) 1.3%

33

Interest income, net 1.0 - - - - - 1.0

Other income, net 1.2 - - - - (1.0) 0.2

Income tax benefit (provision) 5.0 (1.1) (3.0) (1.8) (0.7) 0.4 (1.2)

JV and noncontrolling interests 2.4 - - - - - 2.4

Net Income (7.2) 2.8 6.8 4.6 1.3 (0.7) 7.7

Diluted earnings per share (0.11) 0.04 0.10 0.07 0.02 (0.01) 0.12

© 2018 Brooks Automation, Inc. • Proprietary Information Results shown on continuing operations basis.



GAAP

Results

Acquisition-

Related Costs

Amortization

Expense

Restructuring

Charges

Impairment

Charges

Non-GAAP

Results

Revenue 482.8 - - - - 482.8

Gross profit 167.3 2.3 4.4 0.3 0.4 174.8


Research and development (52.6) - - - - (52.6)

Selling, general and administrative (111.1) 0.7 6.2 - 2.6 (101.6)

Restructuring charges (6.3) - - 6.3 - -

Operating profit (2.7) 3.0 10.6 6.6 3.0 20.5

Operating profit margin (0.6%) 4.2%

34

Interest income, net 0.7 - - - - 0.7

Other income, net 0.3 - - - - 0.3

Income tax benefit (provision) 2.0 (0.8) (3.5) (2.1) (1.1) (5.4)

JV and noncontrolling interests 1.1 - - - - 1.1

Net Income 1.4 2.2 7.1 4.5 2.0 17.2

Diluted earnings per share 0.02 0.03 0.10 0.07 0.03 0.25

© 2018 Brooks Automation, Inc. • Proprietary Information Results shown on continuing operations basis.



GAAP

Results

Acquisition-

Related

Costs

Amortization

Expense

Restructuring

Charges

JV

Liquidation

Asset Held

for Sale

Non-GAAP

Results

Revenue 552.7 - - - - - 552.7

Gross profit 189.1 1.5 5.2 - - - 195.8


Research and development (52.2) - - - - - (52.2)

Selling, general and administrative (115.3) 0.7 7.7 - - - (106.9)

Restructuring charges (4.7) - - 4.7 - - -

Operating profit 16.9 2.2 12.9 4.7 - - 36.7

35

Operating profit margin 3.1% 6.6%


Other income, net 0.4 - - - - 1.9 2.4

Income tax benefit (provision) (3.4) (0.4) (4.0) (1.5) - (0.5) (9.7)

JV and noncontrolling interests (0.2) - - - 0.9 - 0.7

Net Income 14.2 1.9 8.9 3.2 0.9 1.5 30.5

Diluted earnings per share 0.21 0.03 0.13 0.05 0.01 0.02 0.45




GAAP

Results

Acquisition-

Related Costs

Amortization

Expense

Restructuring

Charges

Tax

Valuation

Reversal

Other

Special

Charges

Non-GAAP

Results

Revenue 560.3 - - - - 560.3

Gross profit 198.1 0.6 4.2 - - 202.9


Research and development (51.5) - - - - (51.5)

Selling, general and administrative (130.3) 3.4 10.8 - 0.8 (115.3)


Operating profit 4.2 4.0 15.0 12.0 0.8 36.1





Other income, net (0.6) - - - - - (0.6)

Income tax benefit (provision) (75.8) (0.8) (4.9) (3.0) 79.3 (0.3) (5.5)

JV and noncontrolling interests 2.4 - - 2.4

Net Income (69.5) 3.2 10.1 9.0 79.3 0.5 32.6

Diluted earnings per share (1.01) 0.05 0.14 0.13 1.15 0.01 0.47


GAAP

Results

Merger and

Aquistion

Costs

Amortization

Expense

Restructuring

Charges

Other

Special

Charges

Non-GAAP

Results

Revenue 692.9 - - - - 692.9

Gross profit 267.4 0.5 3.9 - - 271.8


Operating Expenses (200.1) 8.3 13.2 - - (178.5)

Restructuring charges (3.2) - - 3.2 - 0.0

Operating profit 64.1 8.8 17.1 3.2 - 93.3



37


Other income (expense), net 1.2 - - - (1.8) (0.6)

Income tax provision (12.1) (1.0) (1.9) (0.3) 0.1 (15.3)

JV and noncontrolling interests 9.4 - - - 0.2 9.6

Net Income 62.6 7.8 15.2 2.9 (1.5) 87.0

Diluted earnings per share 0.89 0.11 0.22 0.04 (0.02) 1.23


Q1’17 GAAP to Non-GAAP ReconciliationsConsolidated Results


GAAP

Results

Acquisition-

Related

Costs

Amortization

Expense

Restructuring

Charges

Other

Special

Charges

Non-GAAP

Results

Revenue 160.0 - - - - 160.0

Gross profit 56.9 0.1 1.0 - - 58.0






Q1 FY17


Interest income, net (0.0) - - - - (0.0)

Other income, net 1.6 - - - (1.8) (0.3)

Income tax benefit (provision) (2.8) (0.0) (0.3) (0.1) 0.1 (3.1)

JV and noncontrolling interests 1.9 - - 0.2 2.1

Net Income 13.9 0.3 3.8 0.9 (1.5) 17.3

Diluted earnings per share 0.20 0.00 0.05 0.01 (0.02) 0.25


Q2’17 GAAP to Non-GAAP Reconciliations Consolidated Results


GAAP

Results

Merger and

Aquistion

Costs

Amortization

Expense

Restructuring

Charges

Other

Special

(Gains)

Charges

Non-GAAP

Results

Revenue 169.3 - - - - 169.3

Gross profit 64.5 0.4 1.1 - - 66.0




Q2 FY17

39





Other income, net (0.3) - - - (0.3)

Income tax benefit (provision) (3.4) (0.1) (0.5) (0.1) - (4.1)

JV and noncontrolling interests 2.8 - - 2.8

Net Income 14.0 1.2 3.9 0.8 - 19.8

Diluted earnings per share 0.20 0.02 0.06 0.01 - 0.28



GAAP

Results

Q3 FY17

Merger and

Aquistion

Costs

Amortization

Expense

Restructuring

Charges

Non-GAAP

Results

Q3

FY17

GAAP

Results

Q4 FY17

Merger and

Aquistion

Costs

Amortization

Expense

Restructuring

Charges

Non-GAAP

Results

Q4

FY17

Revenue 181.7 - - - 181.7 181.9 - - - 181.9

Gross profit 71.6 0.1 1.1 - 72.7 74.4 - 0.8 - 75.2

Gross profit margin 39.4% 40.0% 40.9% 41.3%

Operating Expenses (52.0) 3.7 3.3 - (45.0) (56.4) 3.5 3.6 - (49.4)

Restructuring charges (0.8) - - 0.8 - (0.6) - - 0.6 -

Operating profit 18.8 3.7 4.3 0.8 27.7 17.4 3.5 4.4 0.6 25.8

Operating profit margin 10.3% 15.2% 9.6% 14.2%

Interest income, net 0.0 - - - 0.0 (0.1) - - - (0.1)

Q3'17 Q4'17

Q3’17 and Q4’17 GAAP to Non-GAAP Reconciliations Consolidated Results

40

Interest income, net 0.0 - - - 0.0 (0.1) - - - (0.1)

Other income (expense), net (0.3) - - - (0.3) 0.2 - - - 0.2

Income tax provision (3.7) (0.4) (0.4) (0.1) (4.6) (2.2) (0.5) (0.7) (0.1) (3.5)

JV and noncontrolling interests 2.5 - - - 2.5 2.1 - - - 2.1

Net Income 17.4 3.4 3.9 0.7 25.4 17.4 3.4 3.9 0.7 24.5

Diluted earnings per share 0.25 0.05 0.06 0.01 0.36 0.25 0.04 0.05 0.01 0.35


GAAP to Non-GAAP ReconciliationQuarterly EBITDA and Adjusted EBITDA

$ millions Q1'17 Q2'17 Q3'17 Q4'17

Net income (loss) attributable to Brooks 13.9 14.0 17.4 17.4

Non-GAAP adjustments:

Interest income (0.1) (0.2) (0.1) (0.0)

Interest expense 0.1 0.1 0.1 0.1

Income tax provision 2.8 3.4 3.7 2.2

Depreciation 2.7 2.6 2.6 3.1

Amortization of intangible assets 4.1 4.4 4.3 4.4


Amortization of intangible assets 4.1 4.4 4.3 4.4

EBITDA 23.5 24.3 27.9 27.2

Purchase accounting impact on inventory

and contracts acquired 0.1 0.4 0.1 -

Stock-based compensation 2.5 4.4 4.2 6.2

Restructuring charges 1.0 0.9 0.8 0.6

Merger and acquisition costs / Other (1.4) 0.9 3.7 3.5

Adjusted EBITDA 25.6 30.8 36.7 37.4

GAAP to Non-GAAP ReconciliationAnnual EBITDA and Adjusted EBITDA


Net income (loss) attributable to Brooks (2.2) 31.4 14.2 (69.5) 62.6


Interest income (1.0) (1.0) (0.9) (0.5) (0.5)

Interest expense 0.0 0.2 0.4 0.2 0.4

Income tax provision (5.0) (2.0) 3.4 75.8 12.1

Depreciation 13.7 12.7 12.3 13.1 11.0

Amortization of intangible assets 9.8 10.6 12.9 15.0 17.1

EBITDA 15.2 51.9 42.3 34.1 102.8


EBITDA 15.2 51.9 42.3 34.1 102.8

Purchase accounting impact on inventory

and contracts acquired 3.0 2.3 1.5 0.6 0.5

Stock-based compensation 7.6 10.9 12.2 11.7 17.3

Restructuring charges 6.4 6.3 4.7 12.0 3.2

Merger and acquisition costs / Other 1.9 4.0 3.6 4.1 6.7

Adjusted EBITDA 29.1 45.4 64.2 62.6 130.5

FY13 – FY17 GAAP to Non-GAAP ReconciliationSemiconductor Solutions


GAAP gross profit 118.2 143.9 171.4 159.0 212.7



Impairment of completed technology

intangible assets - - - - -

Inventory write-downs related to

Brooks

Semiconductor Solutions



restructuring programs - 0.1 - - -

Purchase accounting impact on

inventory and contracts acquired 2.7 1.9 0.6 0.6 0.1

Non-GAAP gross profit 123.1 148.8 175.5 162.4 215.3

Operating expenses 107.5 120.6 121.7 121.1 125.9

Non-GAAP operating profit 15.6 28.2 53.9 41.3 89.3

FY13 – FY17 GAAP to Non-GAAP ReconciliationLife Science Systems


GAAP gross profit 14.1 23.4 17.7 39.1 54.8



Impairment of completed technology

intangible assets 1.9 0.4 - - -



Brooks



restructuring programs - 0.2 - - -


inventory and contracts acquired 0.4 0.4 1.0 - 0.4

Non-GAAP gross profit 18.2 25.9 20.3 40.5 56.6

Operating expenses 26.5 31.9 37.3 45.5 50.1

Non-GAAP operating profit (8.3) (5.9) (17.0) (5.0) 6.5

FY16 – FY17 GAAP to Non-GAAP ReconciliationQuarterly BLSS Results

$ millions Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17

GAAP gross profit 5.9 9.9 11.3 12.1 11.5 13.2 13.5 16.6


Amortization of intangible assets 0.4 0.3 0.4 0.4 0.4 0.4 0.4 0.2


inventory and contracts acquired - - - - 0.1 0.3 0.1 -

Non-GAAP gross profit 6.3 10.2 11.6 12.4 11.9 13.9 14.0 16.8


Brooks


Operating expenses 10.5 12.1 12.0 10.9 11.4 11.9 12.4 14.4

Non-GAAP operating profit (4.2) (1.9) (0.4) 1.5 0.5 2.0 1.6 2.3

Brooks Semiconductor Offering Examples

Marathon Express

MagnaTran 7 BiSymmetrik

Jet Atmospheric Transport System


ExpressBiSymmetrik Transport System

M800 FOUP CleanerM2 ReticleChangers

M1900 Reticle Stockers

Brooks Life Sciences Offerings


BioStore™ III CryoBioStore II BioStorage Services

FluidX ConsumablesCool Lab Workflow Products 4titude Consumables

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