Shares of life sciences solutions provider Azenta (NASDAQ:AZTA) are soaring in the pre-market session today on the back of the company’s fourth-quarter showing.
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Revenue rose marginally by 0.8% year-over-year to $138 million, surpassing estimates by about $4.3 million. EPS at $0.16 too, comfortably cruised past expectations by $0.09.
Importantly, Azenta notched double-digit organic growth during the quarter and is seeing momentum in genomics as well as large-automated stores.
Additionally, the company has also announced a new stock buyback program worth $1.5 billion and plans to buy shares worth $1 billion in the coming year.
Further, looking ahead, for Q1, Azenta sees revenue landing between $175 million and $190 million. EPS is seen hovering between $0.08 and $0.16.
For the full-year 2023, the top line is expected to rise by about 30%. Shares of the company are still down 55.1% year-to-date.
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