Investment in Affiliates

12 Months Ended

Sep. 30, 2012

Investment in Affiliates

8.    Investment in Affiliates

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. The Company has revised UCI’s previously reported earnings as discussed in Note 1 and the results herein reflect the revisions. For the years ended September 30, 2012, 2011 and 2010, the Company recorded income associated with UCI of $2.0 million, $4.3 million and $1.0 million, respectively. For the years ended September 30, 2012, 2011 and 2010, management fee payments received by the Company from UCI were $1.0 million, $1.1 million and $0.7 million, respectively. For the years ended September 30, 2012, 2011 and 2010, the Company incurred charges from UCI for products or services of $0.8 million, $0.4 million and $0.3 million, respectively. At September 30, 2012 and 2011 the Company owed UCI $0.1 million in connection with accounts payable for unpaid products and services. During the fiscal years ended September 30, 2012 and 2011, the Company received $5.1 million and $2.4 million, respectively, of cash dividends from UCI. Summarized condensed financial information for UCI is as follows (in thousands):

	Year Ended June 30,
	2012		2011		2010
Statements of Operations:
Revenue	$	70,532	$	75,311	$	38,470
Gross profit		19,816		22,974		10,747
Net income		4,004		8,644		2,341

	June 30,
	2012		2011
Balance Sheets:
Current assets	$	62,144	$	79,226
Noncurrent assets		13,805		13,904
Current liabilities		24,784		45,518
Noncurrent liabilities		206		192
Shareholders’ equity		50,959		47,420

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 years ended September 30, 2012, 2011 and 2010, the Company recorded income associated with YBA of $0.1 million, $0.5 million and $0.1 million, respectively. For the years ended September 30, 2012, 2011 and 2010, the Company earned revenues for sales to YBA of $8.0 million, $9.6 million and $13.5 million, respectively. The amount due from YBA included in accounts receivable at September 30, 2012 and 2011 was $2.0 million and $2.2 million, respectively. For the years ended September 30, 2012, 2011 and 2010, the Company incurred charges from YBA for products and services of $0.5 million, $0.3 million and $0.2 million, respectively. At September 30, 2012 and 2011 the Company owed YBA $0.1 in connection with accounts payable for unpaid products and services. Summarized condensed financial information for YBA is as follows (in thousands):

	Year Ended September 30,
	2012		2011		2010
Statements of Operations:
Revenue	$	83,192	$	104,940	$	65,923
Gross profit		8,112		10,445		6,950
Net income		6		1,258		261

	September 30,
	2012		2011
Balance Sheets:
Current assets	$	32,046	$	44,211
Noncurrent assets		587		504
Current liabilities		23,801		35,533
Noncurrent liabilities		504		397
Shareholders’ equity		8,328		8,785

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