Brooks Automation Inc (BRKS) has announced its first-quarter earnings report for its 2021 ‎fiscal year. Brooks Automation’s double-digit sales growth and rising share price are ‎attributed to the COVID-19 crisis and the growing interest in biotechnology. The company’s ‎shares last traded at -8.25% lower and achieved a high of $84.50 on the 03rd of February. In ‎the last trading session, the prices ranged between $76.57 and $84.50. The shares are ‎below the $82.29 target price by -6.07%. The company’s current market cap is $5.93 billion.‎

Brooks Automation’s revenue soared 18.5 percent year-on-year last quarter to $ 249.5 ‎million. The earnings per share increased by 104.35 % to $ 0.47 per share. According to the ‎company, the results have exceeded Wall Street’s expectations, and the current quarter ‎should continue to see positive dynamics. The company predicts sales of between $267 and ‎‎$283 million and earnings of between $ 0.48 and $ 0.57 per share.‎

Millions of biological samples were processed by Brooks Automation Inc (BRKS) During the ‎quarter. This company manufactures cryogenic products, such as storage systems, ‎accessories, and biomarkers, for working with viruses, bacteria, and tissues. There are over ‎two hundred OEMs who source Brooks custom electronic sensors. These sensors are used in ‎‎5G hardware, autonomous driving systems, IoT devices, and more.‎

The company expanded its life sciences sales 29 % over the quarter to $ 118 million, adding ‎‎400 new customers. The demand for gene therapy and analysis of the cell genome led to a ‎‎25 % increase in revenue for sequencing services in the first quarter of 2020. The company ‎became increasingly involved in gene synthesis in China and the United States due to these ‎developments.‎

Brooks Automation Inc (BRKS) data storage revenue grew 20 % to a record high even ‎without the sale of vaccine storage services and equipment. It is the rapid developments in ‎biotechnology and client attraction that result in Brooks Automation’s growth. COVID-19 has ‎given the company a boost thanks to the crisis and emergency vaccinations.‎

Get The Best Stocks To Trade Every Day!

Join now to get the pre-market morning brief 100% free


Please enter your comment!
Please enter your name here