Azenta shares jump on Q4 results, buyback plans

Shares of Azenta Inc.
AZTA,
+0.59%
jumped 11.9% after hours on Monday after the life-sciences company reported fourth-quarter results that beat expectations and announced plans to buy back an extra $500 million in stock in fiscal 2024. The company — whose products and services help researchers store, handle and process chemical and biological samples — reported net income of $3.4 million, or 6 cents a share, compared with a loss of $20.8 million, or 28 cents a share, in the same quarter last year. Revenue rose 25% to $172.4 million, compared with $137.6 million in the prior-year quarter. Adjusted earnings per share were 13 cents. Analysts polled by FactSet expected adjusted earnings of 2 cents a share on sales of $163.9 million. Azenta said it expected full fiscal 2024 adjusted earnings per share of 19 cents to 29 cents, compared with FactSet forecasts for 24 cents.