Why Shares of Brooks Automation Slumped Today

Shares of automation and cryogenic solutions provider Brooks Automation (NASDAQ: BRKS) tumbled on Thursday after the company reported its fiscal fourth-quarter results. Brooks handily beat analyst estimates for both revenue and earnings, and it provided revenue guidance that was above expectations. The stock dropped despite these positives, with a lofty valuation a possible culprit. Shares of Brooks were down about 18% at 12:50 p.m. EST.

Brooks reported fourth-quarter revenue of $182 million, up 15% year over year and about $7 million higher than the average analyst estimate. Life sciences revenue soared 39% to $44 million, while semiconductor revenue jumped 10% to $138 million.

Image source: Brooks Automation.

Source: Fool.com