Joint Ventures

The Company participates in a 50% joint venture, ULVAC Cryogenics, Inc. (“UCI”), with ULVAC Corporation of Chigasaki, Japan. UCI manufactures and sells cryogenic vacuum pumps, principally to ULVAC Corporation. For each of the three months ended June 30, 2013 and 2012, the Company recorded income associated with UCI of $0.3 million. For the nine months ended June 30, 2013 and 2012, the Company recorded income associated with UCI of $0.4 million and $1.8 million, respectively. At June 30, 2013, the carrying value of UCI in the Company’s consolidated balance sheet was $20.5 million. For each of the three months ended June 30, 2013 and 2012, management fee payments received by the Company from UCI were $0.2 million. For the nine months ended June 30, 2013 and 2012, management fee payments received by the Company from UCI were $0.4 million and $0.8 million, respectively. For the three months ended June 30, 2013 and 2012, the Company incurred charges from UCI for products or services of $0.1 million and $0.2 million, respectively. For the nine months ended June 30, 2013 and 2012, the Company incurred charges from UCI for products or services of $0.5 million and $0.7 million, respectively. At June 30, 2013 and September 30, 2012, the Company owed UCI $26,000 and $0.1 million, respectively, in connection with accounts payable for unpaid products and services. In the third quarter of fiscal 2013, the Company received a cash dividend of $4.6 million from UCI. The Company received a cash dividend of $5.1 million from UCI in the fourth quarter of 2012. Summarized condensed financial information for UCI is as follows (in thousands):



	Three Months Ended March 31,				Nine Months Ended March 31,
	2013		2012		2013		2012
Statements of Operations:
Revenue	$	13,092	$	15,098	$	31,971	$	59,026
Gross profit	3,139		3,852		8,799		16,659
Net income	603		658		726		3,609

The Company participates in a 50% joint venture with Yaskawa Electric Corporation (“Yaskawa”) called Yaskawa Brooks Automation, Inc. (“YBA”) to exclusively market and sell Yaskawa’s semiconductor robotics products and Brooks’ automation hardware products to semiconductor customers in Japan. For each of the three months ended June 30, 2013 and 2012, the Company recorded a loss associated with YBA of $(0.1) million. For each of the nine months ended June 30, 2013 and 2012, the Company recorded a loss associated with YBA of $(0.1) million. At June 30, 2013, the carrying value of YBA in the Company’s consolidated balance sheet was $3.1 million. For the three months ended June 30, 2013 and 2012, revenues earned by the Company from YBA were $1.2 million and $1.7 million, respectively. For the nine months ended June 30, 2013 and 2012, revenues earned by the Company from YBA were $4.1 million and $5.7 million, respectively. For each of the three months ended June 30, 2013 and 2012, the Company incurred charges from YBA for products or services of $0.1 million. For the nine months ended June 30, 2013 and 2012, the Company incurred charges from YBA for products or services of $0.4 million and $0.3 million, respectively.

The amount due from YBA included in accounts receivable at June 30, 2013 and September 30, 2012 was $1.9 million and $2.0 million, respectively. At June 30, 2013 and September 30, 2012 the Company owed YBA $0.1 million in connection with accounts payable for unpaid products and services. Summarized condensed financial information for YBA is as follows (in thousands):



	Three Months Ended June 20,						Nine Months Ended June 20,
	2013			2012			2013			2012
Statements of Operations:
Revenue	$	12,178		$	18,282		$	39,125		$	64,543
Gross profit	984			1,634			4,479			5,880
Net loss	(294		)	(229		)	(410		)	(377		)

These investments are accounted for using the equity method. Under this method of accounting, the Company records in income a proportionate share of the earnings of the joint ventures with a corresponding increase in the carrying value of the investment.