Brooks Automation Inc. (NSDQ:BRKS) named Stephen Schwartz president as it rolls out a new upper management structure.
The Chelmsford, Mass.-based semiconductor imaging components maker said Schwartz, whose appointment became effective April 5, will be a key member of its newly created "Office of the Chief Executive," along with CEO Robert Lepofsky and CFO Martin Headley. Schwartz, a veteran of the semiconductor industry, will lead Brooks Automation’s push to increase "the rate of profitable growth," according to a press release.
Schwartz began his career at Applied Materials Inc. of Santa Clara, Calif., rising to head of its global service business group and president of its first software business unit. After that 14-year stint he put in eight years as chairman, president and CEO of Asyst Technologies Inc., according to the press release.
Brooks boosted its top line and slashed losses during the first quarter, with revenues nearing $106.2 million for the three months ended Dec. 31, 2009, compared to revenues of $73.4 million during the same period last year. Compared with the fourth quarter last year, sales rose 65.7 percent from $64.1 million.
Brooks pared its Q1 net losses to
$2.8 million, or 4 cents per diluted share, from $35.1 million, or 56 cents per diluted share, during Q1 2009. Net losses were also down sequentially from $14.5 million during Q4 2009.