Le Lézard
Classified in: Health, Business, Covid-19 virus
Subjects: ERN, ERP

Azenta Life Sciences Reports Results of Third Quarter of Fiscal 2022, Ended June 30, 2022


CHELMSFORD, Mass., Aug. 9, 2022 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today reported financial results for the third quarter ended June 30, 2022.





















Quarter Ended








Dollars in millions, except per share data


June 30, 


March 31, 


June 30, 


Change






2022


2022


2021


Prior Qtr.


Prior Yr.




Revenue from Continuing Operations


$

133


$

146


$

129


(9)

%

3

%



Life Sciences Products


$

47


$

54


$

49


(12)

%

(3)

%



Life Sciences Services


$

85


$

92


$

80


(7)

%

6

%




















Diluted EPS Continuing Operations


$

(0.09)


$

(0.02)


$

(0.02)


nm


nm




Diluted EPS Total


$

(0.13)


$

28.28


$

0.53


nm


nm





















Non-GAAP Diluted EPS Continuing Operations


$

0.12


$

0.12


$

0.10


0

%

14

%



Adjusted EBITDA Continuing Operations


$

14


$

19


$

19


(29)

%

(26)

%





Management Comments
"We delivered 6% organic growth year-over-year driven by continued momentum in our storage services and automated ultra-cold storage systems. Despite this, our overall results came in below expectations reflecting lower revenue from consumables and genomics," stated Steve Schwartz, President and CEO. "While these challenges exist over the near-term, we remain confident in the long-term growth and profitability of the business and are focused on delivering the value of Azenta to our customers."

Summary of Q3 GAAP Results

Summary of Q3 Non-GAAP Earnings for Continuing Operations
The Continuing Operations view shown on a non-GAAP basis provides additional performance information by excluding the impact of M&A costs, amortization, restructuring, purchase price accounting, certain tax impacts, and special charges or gains, such as impairment losses. 

Cash and Liquidity

Subsequent Events

Guidance for Continuing Operations for Fourth Quarter Fiscal 2022
The Company announced revenue and earnings guidance for continuing operations for the fourth quarter of fiscal 2022. Revenue is expected to be in the range of $131 million to $141 million and non-GAAP diluted earnings per share is expected to be in the range of $0.04 to $0.12. GAAP diluted earnings per share from continuing operations is expected to be in the range of ($0.11) to ($0.03)

Conference Call and Webcast
Azenta management will webcast its third quarter earnings conference call today at 4:30 p.m. Eastern Time. During the call, Company management will respond to questions concerning, but not limited to, the Company's financial performance, business conditions and industry outlook. The conference call will be extended to accommodate time for a review of third quarter results, highlights of the acquisition of B Medical Systems, and a Q&A session. Management's responses could contain information that has not been previously disclosed.

The call will be broadcast live over the Internet and, together with presentation materials referenced on the call, will be hosted at the Investor Relations section of Azenta's website at https://investors.azenta.com/events, and will be archived online on this website for convenient on-demand replay.  In addition, you may call 800-954-0586 (US & Canada only) or +1-212-231-2901 for international callers to listen to the live webcast.

Regulation G ? Use of Non-GAAP financial Measures
The Company supplements its GAAP financial measures with certain non-GAAP financial measures to provide investors a better perspective on the results of business operations, which the Company believes is more comparable to the similar analyses provided by its peers. These measures are not presented in accordance with, nor are they a substitute for, U.S. generally accepted accounting principles, or GAAP. These measures should always be considered in conjunction with appropriate GAAP measures. A reconciliation of non-GAAP measures to the most nearly comparable GAAP measures is included at the end of this release following the consolidated balance sheets, statements of operations and statements of cash flows.

"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 Azenta's 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. Other forward-looking statements include but are not limited to statements about our revenue and earnings expectations, our ability to increase our profitability, our ability to improve or retain our market position, our ability to deliver financial success in the future, the expected timing of the completion of our acquisition of B Medical, and our ability to invest the cash proceeds from the sale of our semiconductor automation business. Factors that could cause results to differ from our expectations include the following:  the impact of the COVID-19 global pandemic on the markets we serve, including our supply chain, and on the global economy generally, the volatility of the life sciences industries the Company serves; our possible inability to meet 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; uncertainties in global political and economic conditions, and other factors and other risks, including those 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. Azenta 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. Azenta undertakes no obligation to update the information contained in this press release.

About Azenta Life Sciences
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. As of December 1st, the company changed its name and ticker to Azenta, Inc. (Nasdaq: AZTA) from Brooks Automation, Inc, (Nasdaq: BRKS).

Azenta is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.

AZENTA INVESTOR CONTACTS: 
Sara Silverman
Head of Investor Relations
978.262.2635
ir@azenta.com

Sherry Dinsmore
978.262.2400
sherry.dinsmore@azenta.com

 

AZENTA, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

(In thousands, except per share data)


















Three Months Ended



Nine Months Ended





June 30, 



June 30, 





2022


2021



2022


2021




















Revenue
















Products

$

42,688


$

44,169



$

138,006


$

131,864




Services


90,047



84,918




279,925



244,900




Total revenue


132,735



129,087




417,931



376,764




Cost of revenue
















Products


24,090



23,603




73,565



69,183




Services


49,045



43,053




146,897



129,915




Total cost of revenue


73,135



66,656




220,462



199,098




Gross profit


59,600



62,431




197,469



177,666




Operating expenses
















Research and development


6,515



5,489




19,895



15,813




Selling, general and administrative


58,133



57,825




187,361



171,648




Restructuring charges


25



?




319



53




Total operating expenses


64,673



63,314




207,575



187,514




Operating loss


(5,073)



(883)




(10,106)



(9,847)




Interest income


6,822



409




9,933



503




Interest expense


(2,101)



(477)




(4,111)



(1,485)




Loss on extinguishment of debt


?



?




(632)



?




Other income (expenses), net


630



(1,651)




(1,617)



(263)




Income (loss) before income taxes


278



(2,602)




(6,533)



(11,092)




Income tax provision (benefit)


7,293



(760)




(560)



(4,620)




Loss from continuing operations


(7,015)



(1,842)




(5,973)



(6,472)




(Loss) income from discontinued operations, net of tax

$

(2,555)


$

41,008



$

2,159,597


$

95,414




Net (loss) income


(9,570)



39,166




2,153,624



88,942




Basic net (loss) income per share:

$















Loss from continuing operations

$

(0.09)


$

(0.02)



$

(0.08)


$

(0.09)




(Loss) income from discontinued operations, net of tax

$

(0.03)


$

0.55



$

28.84


$

1.29




Basic net (loss) income per share


(0.13)



0.53




28.76



1.20




Diluted net (loss) income per share:
















Loss from continuing operations

$

(0.09)


$

(0.02)



$

(0.08)


$

(0.09)




(Loss) income from discontinued operations, net of tax

$

(0.03)


$

0.55



$

28.84


$

1.29




Diluted net (loss) income per share


(0.13)



0.53




28.76



1.20




Weighted average shares used in computing net income per share:
















Basic


74,989



74,296




74,879



74,195




Diluted


74,989



74,296




74,879



74,195




 

AZENTA, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited)

(In thousands, except share and per share data)








June 30, 


September 30,


2022


2021







Assets






Current assets






Cash and cash equivalents

$

1,474,189


$

227,427

Marketable securities


709,063



81

Accounts receivable, net


150,274



119,877

Inventories


81,213



60,398

Prepaid expenses and other current assets


160,557



58,198

Current assets held for sale


?



311,385

Total current assets


2,575,296



777,366

Property, plant and equipment, net


154,596



130,719

Long-term marketable securities


312,027



3,598

Long-term deferred tax assets


1,926



10,043

Goodwill


464,885



469,356

Intangible assets, net


160,691



186,534

Other assets


53,296



58,068

Non-current assets held for sale


?



183,828

Total assets

$

3,722,717


$

1,819,512

Liabilities and Stockholders' Equity






Current liabilities






Accounts payable

$

34,576


$

42,360

Deferred revenue


33,132



25,724

Accrued warranty and retrofit costs


2,524



2,330

Accrued compensation and benefits


44,279



33,183

Accrued restructuring costs


169



304

Accrued income taxes payable


7,095



8,711

Accrued expenses and other current liabilities


72,881



103,537

Current liabilities held for sale


271



128,939

Total current liabilities


194,927



345,088

Long-term debt


?



49,677

Long-term tax reserves


1,681



1,973

Long-term deferred tax liabilities


44,286



13,030

Long-term pension liabilities


698



705

Long-term operating lease liabilities


46,719



45,088

Other long-term liabilities


6,620



6,173

Non-current liabilities held for sale


?



32,444

Total liabilities


294,931



494,178

Commitments and contingencies






Stockholders' Equity






Preferred stock, $0.01 par value - 1,000,000 shares authorized, no shares issued or outstanding


?



?

Common stock, $0.01 par value - 125,000,000 shares authorized, 88,451,223 shares issued and
74,989,354 shares outstanding at June 30, 2022, 87,808,922 shares issued and 74,347,053 shares
outstanding at September 30, 2021


885



878

Additional paid-in capital


1,990,281



1,976,112

Accumulated other comprehensive income


(38,493)



19,351

Treasury stock at cost - 13,461,869 shares


(200,956)



(200,956)

Retained earnings (accumulated deficit)


1,676,069



(470,051)

Total stockholders' equity


3,427,786



1,325,334

Total liabilities and stockholders' equity

$

3,722,717


$

1,819,512

 

 

AZENTA, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

(In thousands, except share and per share data)



Nine Months Ended



June 30, 



2022


2021

Cash flows from operating activities







Net income


$

2,153,624


$

88,942

Adjustments to reconcile net income to net cash provided by operating activities:







Depreciation and amortization



38,813



48,684

Stock-based compensation



10,715



20,277

Amortization of deferred financing costs and unrealized gains/losses on investments



(7,048)



169

Deferred income taxes



24,207



(10,293)

Loss on extinguishment of debt



632



?

(Gain) loss on disposals of property, plant and equipment



(100)



?

Gain on divestiture, net of tax



(2,128,761)



225

Adjustment to the gain on divestiture of semiconductor cryogenics business, net of tax



?



948

Fees paid stemming from divestiture



(52,461)



?

Taxes paid stemming from divestiture



(431,600)



?

Changes in operating assets and liabilities, net of acquisitions and divestiture:







Accounts receivable



(16,298)



(40,286)

Inventories



(61,345)



(32,532)

Prepaid expenses and other assets



(61,692)



4,000

Accounts payable



(8,320)



23,327

Deferred revenue



8,580



(1,564)

Accrued warranty and retrofit costs



(28)



(286)

Accrued compensation and tax withholdings



13,835



(338)

Accrued restructuring costs



(126)



(153)

Accrued expenses and other liabilities



41,693



21,626

Net cash (used in) provided by operating activities


$

(475,680)


$

122,745

Cash flows from investing activities







Purchases of property, plant and equipment



(59,730)



(34,606)

Purchases of technology intangibles



(4,000)



?

Purchases of marketable securities



(1,525,993)



(100)

Sales and maturities of marketable securities



503,505



50

Proceeds from divestiture, net of cash transferred



2,926,286



?

Acquisitions, net of cash acquired



?



(94,178)

Net cash provided by (used in) investing activities


$

1,840,068


$

(128,834)

Cash flows from financing activities







Proceeds from issuance of common stock



3,461



2,583

Principal payments on debt



(49,725)



(828)

Payments of finance leases



(355)



(915)

Payment for contingent consideration related to acquisition



(10,400)



?

Common stock dividends paid



(7,494)



(22,288)

Net cash used in financing activities


$

(64,513)


$

(21,448)

Effects of exchange rate changes on cash and cash equivalents



(98,972)



7,582

Net increase (decrease) in cash, cash equivalents and restricted cash



1,200,903



(19,955)

Cash, cash equivalents and restricted cash, beginning of period



285,333



257,526

Cash, cash equivalents and restricted cash, end of period


$

1,486,236


$

237,571










June 30, 


September 30,



2022


2021

Cash and cash equivalents of continuing operations


$

1,474,189


$

227,427

Cash and cash equivalents included in assets held for sale



?



45,000

Short-term restricted cash included in prepaid expenses and other current assets



11,564



7,145

Long-term restricted cash included in other assets



483



5,761

Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows


$

1,486,236


$

285,333

Notes on Non-GAAP Financial Measures
Non-GAAP 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 adjusts the GAAP results for the impact of amortization of intangible assets, restructuring charges, purchase price accounting adjustments and charges related to M&A to provide investors better perspective on the results of operations which the Company believes is more comparable to the similar analysis provided by its peers.  Management also excludes special charges and gains, such as impairment losses, gains and losses from the sale of assets, certain tax benefits and charges, as well as other gains and charges that are not representative of the normal operations of the business. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not rely on any single measure.

 






















Quarter Ended



June 30, 2022


March 31, 2022


June 30, 2021





per diluted




per diluted




per diluted

Dollars in thousands, except per share data    


$


share


$


share


$


share

Net loss from continuing operations


$

(7,015)


$

(0.09)


$

(1,816)


$

(0.02)


$

(1,842)


$

(0.02)

Adjustments:



















Amortization of intangible assets



7,557



0.10



7,887



0.11



9,570



0.13

Restructuring charges



23



0.00



122



0.00



?



?

Tariff adjustment



?



?



(486)



(0.01)



(83)



(0.00)

Merger and acquisition costs



1,662



0.02



5,589



0.07



2,526



0.03

Rebranding and transformation costs



289



0.00



1,297



0.02



?



?

Loss on extinguishment of debt



?



?



632



0.01



?



?

Tax adjustments (1)



8,417



0.11



(900)



(0.01)



682



0.01

Tax effect of adjustments 



(2,143)



(0.03)



(3,580)



(0.05)



(3,191)



(0.04)

Non-GAAP adjusted net income from continuing operations


$

8,790


$

0.12


$

8,745


$

0.12


$

7,662


$

0.10

   Stock based compensation, pre-tax



3,485



0.05



5,549



0.07



4,344



0.06

   Tax rate



15

%


?



15

%


?



15

%


?

Stock-based compensation, net of tax



2,962



0.04



4,717



0.06



3,692



0.05

Non-GAAP adjusted net income excluding stock-based compensation - continuing operations


$

11,752


$

0.16


$

13,462


$

0.18


$

11,354


$

0.15




















Shares used in computing non-GAAP diluted net income per share



?



74,989



?



74,958



?



74,296

 

 


















Nine Months Ended




June 30, 2022


June 30, 2021






per diluted




per diluted

Dollars in thousands, except per share data    



$


share


$


share

Net loss from continuing operations



$

(5,973)


$

(0.08)


$

(6,472)


$

(0.09)

Adjustments:














Amortization of intangible assets




23,488



0.31



27,857



0.38

Restructuring charges




319



0.00



53



0.00

Tariff adjustment




(484)



(0.01)



5,414



0.07

Merger and acquisition costs




10,970



0.15



12,234



0.16

Rebranding and transformation costs




2,205



0.03



?



?

Loss on extinguishment of debt




632



0.01



?



?

Tax adjustments (1)




3,619



0.05



(863)



(0.01)

Tax effect of adjustments




(8,329)



(0.11)



(11,058)



(0.15)

Non-GAAP adjusted net income from continuing operations



$

26,447


$

0.35


$

27,165


$

0.37

Stock-based compensation, pre-tax




12,492



0.17



14,913



0.20

Tax rate




15

%


?



15

%


?

Stock-based compensation, net of tax




10,618


$

0.14



12,676



0.17

Non-GAAP adjusted net income excluding stock-based compensation - continuing operations



$

37,065


$

0.49


$

39,841


$

0.54















Shares used in computing non-GAAP diluted net income per share




?



74,879



?



74,195

(1)       

Tax adjustments during all periods include adjustments to tax benefits related to stock compensation windfalls. These benefits are recognized in the period of vesting for
US GAAP but included in the annual effective tax rate for Non-GAAP reporting.   Tax adjustments for the quarter ended June 30, 2022, include a $6.7M increase to
expense related to the exclusion of allocations between continuing operations and discontinued operations.

 



















Quarter Ended


Nine Months Ended



June 30, 


March 31, 


June 30, 


June 30, 


June 30, 

Dollars in thousands


2022


2022


2021


2022


2021

GAAP net (loss) income


$

(9,570)


$

2,119,874


$

39,166


$

2,153,624


$

88,942

Less: Income from discontinued operations



2,555



(2,121,690)



(41,008)



(2,159,597)



(95,414)

GAAP net (loss) income from continuing operations



(7,015)



(1,816)



(1,842)



(5,973)



(6,472)

Adjustments:
















Less: Interest income



(6,822)



(3,076)



(409)



(9,933)



(503)

Add: Interest expense



2,101



1,555



477



4,111



1,485

Add / Less: Income tax provision (benefit)



7,293



(3,173)



(760)



(560)



(4,620)

Add: Depreciation



5,253



5,316



4,873



15,777



14,434

Add: Amortization of completed technology



1,810



1,840



2,173



5,424



6,200

Add: Amortization of customer relationships and acquired intangible assets



5,745



6,047



7,396



18,064



21,657

Add: Loss on extinguishment of debt



?



632



?



632



?

Earnings before interest, taxes, depreciation and amortization - Continuing operations


$

8,365


$

7,325


$

11,908


$

27,542


$

32,181

  



















Quarter Ended


Nine Months Ended



June 30, 


March 31, 


June 30, 


June 30, 


June 30, 

Dollars in thousands


2022


2022


2021


2022


2021

Earnings before interest, taxes, depreciation and amortization - Continuing operations


$

8,365


$

7,325


$

11,908


$

27,542


$

32,181

Adjustments:
















Add: Stock-based compensation



3,485



5,549



4,344



12,492



14,913

Add: Restructuring charges



23



122



?



319



53

Add: Merger and acquisition costs



1,664



5,589



2,526



10,970



12,234

Add: Tariff adjustment



?



(486)



(83)



(484)



5,414

Add: Rebranding and transformation costs



289



1,297



?



2,205



?

Adjusted earnings before interest, taxes, depreciation and amortization - Continuing operations


$

13,826


$

19,396


$

18,695


$

53,044


$

64,795

 






















Quarter Ended


Dollars in thousands


June 30, 2022



March 31, 2022



June 30, 2021


GAAP gross profit


$

59,600


44.9

%


$

70,825


48.7

%


$

62,431


48.4

%

Adjustments:



















Amortization of completed technology



1,812


1.4




1,840


1.3




2,173


1.7


Tariff adjustment



?


?




(486)


(0.3)




(83)


(0.1)


Non-GAAP adjusted gross profit


$

61,412


46.3

%


$

72,179


49.6

%


$

64,521


50.0

%




















 








































 Life Sciences Products


Life Sciences Services



Quarter Ended


Quarter Ended

Dollars in thousands


June 30, 
2022



March 31, 
2022



June 30, 
2021



June 30, 
2022



March 31, 
2022



June 30, 
2021


GAAP gross profit


$

21,026


44.4

%


$

26,290


49.0

%


$

22,655


46.6

%


$

38,564


45.2

%


$

44,535


48.4

%


$

39,772


49.4

%

Adjustments:





































Amortization of completed technology



251


0.5




267


0.5




432


0.9




1,562


1.8




1,572


1.7




1,742


2.2


Tariff adjustment



?


?




?


?




?


?




?


?




(486)


(0.5)




(83)


(0.1)


Non-GAAP adjusted gross profit


$

21,277


44.9

%


$

26,557


49.5

%


$

23,087


47.5

%


$

40,126


47.0

%


$

45,621


49.6

%


$

41,431


51.5

%






































 
















Nine Months Ended


Dollars in thousands


June 30, 2022



June 30, 2021


GAAP gross profit


$

197,469


47.2

%


$

177,666


47.2

%

Adjustments:













Amortization of completed technology



5,424


1.3




6,200


1.6


Tariff adjustment



(486)


(0.1)




5,414


1.4


Non-GAAP adjusted gross profit


$

202,407


48.4

%


$

189,280


50.2

%

 



























Life Sciences Products

Life Sciences Services



Nine Months Ended

Nine Months Ended

Dollars in thousands


June 30, 2022


June 30, 2021

June 30, 2022


June 30, 2021

GAAP gross profit


$

70,006


46.4

%


$

67,232


45.9

%

$

127,466


47.7

%


$

110,431


48.0

%

Adjustments:
























Amortization of completed technology



722


0.5




985


0.7



4,702


1.8




5,215


2.3


Tariff adjustment



?


?




?


?



(484)


(0.2)




5,414


2.4


Non-GAAP adjusted gross profit


$

70,728


46.9

%


$

68,217


46.6

%

$

131,684


49.3

%


$

121,060


52.6

%

























  






















 Life Sciences Products


Life Sciences Services



Quarter Ended


Quarter Ended



June 30, 


March 31, 


June 30, 


June 30, 


March 31, 


June 30, 

Dollars in thousands


2022


2022


2021


2022


2022


2021

GAAP operating loss


$

1,965


$

5,021


$

4,629


$

688


$

3,770


$

4,115

Adjustments:



















Amortization of completed technology



251



267



431



1,562



1,572



1,742

Tariff adjustment



?



?



?



?



(486)



(83)

Non-GAAP adjusted operating profit


$

2,216


$

5,288


$

5,060


$

2,250


$

4,856


$

5,774

 































Total Segments


Corporate


Total



Quarter Ended


Quarter Ended


Quarter Ended



June 30, 


March 31, 


June 30, 


June 30, 


March 31, 


June 30, 


June 30, 


March 31, 


June 30, 

Dollars in thousands


2022


2022


2021


2022


2022


2021


2022


2022


2021

GAAP operating profit (loss)


$

2,653


$

8,791


$

8,744


$

(7,726)


$

(13,499)


$

(9,627)


$

(5,073)


$

(4,708)


$

(883)

Adjustments:






?






















Amortization of completed technology



1,813



1,840



2,173



?



?



?



1,813



1,840



2,173

Amortization of customer relationships and acquired intangible assets



?



?



?



5,745



6,047



7,396



5,745



6,047



7,396

Restructuring charges



?



?



?



25



122



?



25



122



?

Tariff adjustment



?



(486)



(83)



?



?



?



?



(486)



(83)

Rebranding and transformation costs



?



?



?



289



1,297



?



289



1,297



?

Merger and acquisition costs



?



?



?



1,662



5,589



2,527



1,662



5,589



2,527

Non-GAAP adjusted operating profit (loss)


$

4,466


$

10,145


$

10,834


$

(5)


$

(444)


$

296


$

4,461


$

9,701


$

11,130

 
















Life Sciences Products


Life Sciences Services



Nine Months Ended


Nine Months Ended

Dollars in thousands


June 30, 


June 30, 


June 30, 


June 30, 



2022


2021


2022


2021

GAAP operating profit


$

11,173


$

15,501


$

10,772


$

7,687

Adjustments:













Amortization of completed technology



722



985



4,702



5,215

Tariff adjustment



?



?



(484)



5,414

Non-GAAP adjusted operating profit


$

11,895


$

16,486


$

14,990


$

18,316

 






















Total Segments


Corporate


Total



Nine Months Ended


Nine Months Ended


Nine Months Ended

Dollars in thousands


June 30, 


June 30, 


June 30, 


June 30, 


June 30, 


June 30, 



2022


2021


2022


2021


2022


2021

GAAP operating profit (loss)


$

21,945


$

23,188


$

(32,052)


$

(33,036)


$

(10,107)


$

(9,848)

Adjustments:



















Amortization of completed technology



5,424



6,200



?



?



5,424



6,200

Amortization of customer relationships and acquired intangible assets



?



?



18,064



21,657



18,064



21,657

Restructuring charges



?



?



319



53



319



53

Tariff adjustment



(484)



5,414



?



?



(484)



5,414

Rebranding and transformation costs



?



?



2,205



?



2,205



?

Merger and acquisition costs



?



?



10,970



12,234



10,970



12,234

Non-GAAP adjusted operating profit (loss)


$

26,885


$

34,802


$

(494)


$

908


$

26,391


$

35,710

 

Azenta logo (PRNewsfoto/Azenta)

 

SOURCE Azenta, Inc.


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