AZTA - Azenta plunges 15% on Q2 forecast below estimates misses revenue consensus

• Azenta ( NASDAQ: AZTA ) is trading 15% lower after the company forecast second revenue and non-GAAP EPS below analysts estimate.
• The company sees Q3 revenue between $156M to $171M, below analysts estimate of $173.71M.
• Non-GAAP diluted earnings per share is expected to be in the range of ($0.04) to $0.04 vs $0.07 consensus.
• The company also missed Q1 revenue and GAAP EPS estimates, hurt by slow growth in Life Sciences Services.
• Revenue rose 27% Y/Y to $178M, while  Q1 Non-GAAP EPS was $0.12.
• Life Sciences Services revenue declined 1% Y/Y, with 7% growth in sample repository solutions and a 4% decline in genomics.
• Life Sciences Products revenue increased 80% Y/Y primarily due to the addition of B Medical.
• Acquired businesses, B Medical and Barkey, contributed $46M to revenue in the quarter.
• AZTA is down 19% YTD.
• Press Release

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