XML 95 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Joint Ventures
9 Months Ended
Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Equity Method Investments
The Company accounts for certain of its investments using the equity method. Under this method of accounting, the Company records in income its proportionate share of the earnings (losses) of the investee with a corresponding increase (decrease) in the carrying value of the investment.
BioCision, LLC
In March 2014, the Company acquired a 22% equity interest in BioCision, LLC (“BioCision”), a privately-held company based in Larkspur, California, for $4.0 million. BioCision develops, manufactures and markets cell cryopreservation products used to improve and standardize the tools and methods for biomaterial sample handling. For each of the three and nine months ended June 30, 2014, the Company recorded losses associated with BioCision of $0.1 million. At June 30, 2014, the carrying value of the investment in BioCision in the Company’s Consolidated Balance Sheet was $3.9 million.
ULVAC Cryogenics, Inc.
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 the three months ended June 30, 2014 and 2013, the Company recorded income associated with UCI of $0.2 million and $0.3 million, respectively. For the nine months ended June 30, 2014 and 2013, the Company recorded income associated with UCI of $1.4 million and $0.4 million, respectively. At June 30, 2014, the carrying value of UCI in the Company’s Consolidated Balance Sheet was $23.9 million. For each of the three months ended June 30, 2014 and 2013, management fee payments received by the Company from UCI were $0.2 million. For the nine months ended June 30, 2014 and 2013, management fee payments received by the Company from UCI were $0.5 million and $0.4 million, respectively. For the three months ended June 30, 2014 and 2013, the Company incurred charges from UCI for products or services of $0.2 million and $0.1 million, respectively. For the nine months ended June 30, 2014 and 2013, the Company incurred charges from UCI for products or services of $0.3 million and $0.5 million, respectively. At June 30, 2014 and September 30, 2013, the Company owed UCI $108,000 and $26,000, respectively, in connection with accounts payable for unpaid products and services.
Yaskawa Brooks Automation, Inc.
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 the three months ended June 30, 2014 and 2013, the Company recorded losses associated with YBA of $70,000 and $65,000, respectively. For the nine months ended June 30, 2014 and 2013, the Company recorded losses associated with YBA of $53,000 and $143,000, respectively. At June 30, 2014, the carrying value of YBA in the Company’s Consolidated Balance Sheet was $2.9 million. For the three months ended June 30, 2014 and 2013, revenue earned by the Company from YBA was $2.7 million and $1.2 million, respectively. For the nine months ended June 30, 2014 and 2013, revenue earned by the Company from YBA was $5.6 million and $4.1 million, respectively. For each of the three months ended June 30, 2014 and 2013, the Company incurred charges from YBA for products or services of $0.1 million. For each of the nine months ended June 30, 2014 and 2013, the Company incurred charges from YBA for products or services of $0.4 million.
The amount due from YBA included in accounts receivable at June 30, 2014 and September 30, 2013 was $2.2 million and $2.3 million, respectively. At June 30, 2014 and September 30, 2013 the Company owed YBA $59,000 and $47,000 in connection with accounts payable for unpaid products and services.