Brooks Automation Inc. (NSDQ:BRKS) continued its upward trend as second-quarter revenues nearly quadrupled, leading to the company’s first profitable earnings period since Q3 2007.
The Chelmsford-based semiconductor imaging components maker reported profits of $21 million, or 33 cents per diluted share, on revenues of $148.4 million for the three months ended March 31. That compared with net losses of $152.5 million, or $2.43 per diluted share, on revenues of $37.3 million during Q2 2009.
Brooks said $10.1 million of its earnings came from non-recurring revenue, including a $7.5 million after-tax gain from the sale of intellectual property rights and a $3.9 million tax credit rustled up through the Worker, Home Ownership and Business Assistance Act.
CEO Robert Lepofsky said strong demand from the company’s major semiconductor OEM customers drove a 40 percent increase in revenues compared with the first quarter, “with good profitability,” according to a prepared statement.
Brooks posted a 45 percent first-quarter sales hike and narrowed its Q1 net losses by 92 percent during the three months ended Dec. 31, 2009, with new president Stephen Schwartz helping to flesh out its upper management structure.