Brooks Automation, Inc. (NASDAQ:BRKS) Q4 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET


Brooks Automation, Inc. (NASDAQ:BRKS) Q4 2019 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Brooks Automation Q4 Financial Results Conference Call. [Operator Instructions]

I would now like to turn the conference over to Mark Namaroff, Director of Investor Relations. Please go ahead.

Mark Namaroff

Thank you, Chris, and good afternoon everyone on the line today. We'd like to welcome you to our fourth quarter and year-end fiscal 2019 earnings conference call. Our earnings press release was issued after the close of the market today and is available on our Investor Relations website, located at, as are the supplementary PowerPoint slides that will be used during prepared remarks today.

I would like to remind everyone that during the course of the call we will be making a number of forward-looking statements within the meaning of the Private Litigation Securities Act of 1995. There are many factors that may cause actual financial results or other events to differ from those identified in such forward-looking statements. I would refer to you to the sections of our earnings release titled Safe Harbor Statement, the safe harbor slide on the aforementioned PowerPoint presentation on our website, and our various filings with the SEC, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We make no obligation to update these statements should future financial data or events occur that differ from our forward-looking statements presented today.

Also today we'll be referring to a number of non-GAAP financial measures, which are used in addition to and in conjunction with results presented in accordance with GAAP. We believe that non-GAAP measures provide an additional way of viewing aspects of our operations and performance, but when considered with GAAP financial results and the reconciliation of GAAP measures, they provide an even more complete understanding of the Brooks business. Non-GAAP measures should not be relied upon to the exclusion of GAAP measures themselves.

And on the call with me today is our President and Chief Executive Officer, Steve Schwartz and Executive Vice President and Chief Financial Officer, Lindon Robertson. We will open up the call with remarks from Steve on the highlights of the fourth quarter and the fiscal year, and then Lindon will provide a more detailed look into the quarter and fiscal year-end financial results and provide a summary of our financial outlook for the first fiscal quarter of 2020. Then we'll take your questions at the end of the call.

Before turning the call over to Steve, I would like to remind everyone that we completed the sale of the Semiconductor Cryogenics business on July 1st, the first day of our fiscal fourth quarter. Reporting and commentary in this quarter focuses on our continuing operations.

And with that, I'd like to turn the call over to our CEO, Steve Schwartz.

Stephen S. Schwartz

Thank you, Mark, and good afternoon everyone. We're pleased to report to you results from another strong quarter, give you some summary comments about our performance from our full fiscal 2019 year, and provide you with thoughts on our outlook for fiscal year