Brooks Automation announces lower than anticipated revenues for fiscal 1997 first quarter.CHELMSFORD, Mass.--(BUSINESS WIRE)--Dec. 19, 1996--Brooks Automation, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BRKS BRKS Brooks (street suffix) ) ("Brooks" or the "Company") today announced that it expects financial results for the fiscal 1997 first quarter ending December 31, 1996 will be below analysts' estimates primarily attributable to a broad decline in the semiconductor manufacturing equipment industry that has resulted in slower than anticipated customer process tool shipments. The Company currently anticipates that fiscal 1997 first quarter sales will be between $15 million and $17 million. Commenting on these recent developments, Robert J. Therrien, President and Chief Executive Officer of Brooks Automation, said: "The reduction in capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. by the semiconductor industry, as recently reported by others, has impacted our current quarter revenues. However, we are pleased with the continuing expansion of our customer base, especially overseas, and continue to strengthen our position in our targeted markets through the introduction of new products and product enhancements." "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This press release contains projections and other information that constitute forward looking statements that involve risks and uncertainties, including, without limitation, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's dependence on the cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. semiconductor industry, the Company's dependence on relatively few customers for a significant portion of its revenues, the Company's reliance on sales to OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers and the lengthy sales cycles of those customers, the ability of the Company to continue to successfully develop and market new products and product enhancements for its targeted markets, the highly competitive nature and rapid technological change that characterize the industries in which the Company competes, and other risks and uncertainties described in the Company's reports and registration statements filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different that those projected. The projections contained herein speak only as of the Company's expectations as of the date of this News Release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. Profile Brooks Automation, Inc. is a leading worldwide independent supplier of vacuum substrate handling robots, modules and cluster tool platforms for semiconductor and flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time manufacturing. Brooks' robots, cluster tool platforms and other automation products enable its customers to process semiconductor wafers or flat panel displays at higher speeds, with fewer defects, and at lower cost. With the February 1996 acquisition of Techware Systems Corporation (now Brooks Automation Canada), Brooks is positioned to provide the semiconductor and flat panel display industries with a complete automation alternative to their in-house design groups. For years a driving force in vacuum handling technology, Brooks continues to develop innovations to improve wafer and flat panel display processing equipment productivity and utilization in the latest-generation fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. facilities. CONTACT: Robert J. Therrien/Stanley D. Piekos Brooks Automation, Inc. (508) 262-2566 or John P. Kehoe/Van Negris Kehoe, White, Savage & Co., Inc. (212) 888-1616 |
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