05:40 AM EDT, 05/09/2024 (MT Newswires) -- Azenta ( AZTA ) reported fiscal Q2 adjusted earnings Wednesday of $0.05 per diluted share, swinging from an adjusted loss of $0.06 a year earlier.

Analysts polled by Capital IQ expected normalized earnings of $0.02.

Total revenue for the quarter ended March 31 was $159.1 million, up from $148.4 million a year earlier.

Analysts surveyed by Capital IQ expected $160.1 million.

The biotech firm now expects 2024 adjusted EPS of $0.27 to $0.37, compared with its prior guidance of $0.19 to $0.29. Analysts polled by Capital IQ expect adjusted EPS of $0.27. Revenue for the year is now projected to be $659 million to $671 million, compared with its prior outlook of $696 million to $718 million. Analysts surveyed by Capital IQ expect $691 million.

Separately, the company said that Chief Executive Stephen Schwartz will retire once a successor has been appointed.

Schwartz has served at the company for 14 years. The board has retained executive search firm Heidrick & Struggles to assist in identifying and evaluating potential chief executives.

Shares of Azenta ( AZTA ) fell more than 3% in recent premarket activity on Thursday.

Price: 52.00, Change: -2.07, Percent Change: -3.83