RTTNews | Nov 11, 2020 10:04AM EST

10:04 Wednesday, November 11, 2020 (RTTNews.com) - Shares of Brooks Automation, Inc. (BRKS) are gaining more than 15 percent or $9.31 in Wednesday's morning trade at $68.74 after touching a new 52-week high of $71.95, as the company's fourth-quarter results beat analysts' expectations and it also projected first-quarter results above estimates.

Tuesday, Brooks Automation said its fourth-quarter net income was $28.97 million or $0.39 per share, down sharply from $412.3 million or $5.68 per share last year. However, adjusted earnings from continuing operations were $0.47 per share, compared to $0.23 per share last year. Revenues grew 24 percent to $246.2 million from $199.2 million last year.

Analysts polled by Thomson Reuters had a consensus estimate for earnings of $0.36 per share on revenues of $234.88 million.

For the first quarter, the company expects adjusted earnings of $0.37 to $0.47 per share on revenues of $237 million to $251 million. The Street expects earnings of $0.32 per share on revenues of $229.96 million.

Further, the company reiterated a dividend of $0.10 per share, payable on December 17, 2020 to stockholders of record on December 4, 2020.

Brooks Automation has traded in a range of $21.19 to $71.95 in the past 52 weeks.

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