Don, do u have conf call number
seems to be good report
A T M I REPORTS THIRD QUARTER FINANCIAL RESULTS
Revenues Improve More Than 50%
DANBURY, CT -- October 20, 1999 -- A T M I, Inc. (Nasdaq: ATMI), today
announced it achieved net income of $5.1 million on $45.6 million in revenue for
its third quarter ending September 30th. Earnings increased to $0.19 per share
on a 55% revenue increase, compared to a loss of $0.09 per share on revenues of
$29.5 million for the third quarter a year ago. The Q3 1998 loss included a
one-time $0.09 per share charge for merger and related costs, net of tax.
For the nine months ending in September, A T M I earned $0.42 per share --
before one-time acquisition expenses -- based on net income of $11.1 million
generated from $121 million in revenues. Last year through three quarters, A T M
I had revenues of $113 million, and before merger expenses, earnings of $0.25
per share. After the one-time expenses in both periods, net income for the
current nine months was $5.6 million, or $0.21 per share, compared to $4.2
million or $0.17 per share for the nine months of last year.
Gene Banucci, CEO, said, "The semiconductor industry has strengthened
considerably on a worldwide basis as consumer demand for PCs and other devices
using semiconductors has rebounded. This has helped A T M I's unit-based wafer
start businesses extend the positive momentum we saw in the second quarter. In
conjunction with this rebound, our Materials business set several new highs in
sales and profitability, led by our unique materials packaging and delivery
systems -- the SDS(r) Gas Source and the NOWPak(r) high-purity containers. We
expect
to see continued strengthening in our Technologies businesses, where we still
have room for significant upside potential, as we hear more announcements of new
chip plant construction and upgrades."
Dan Sharkey, CFO, commented, "Across the board, we see the industry's
return to growth helping our businesses. Even though the Taiwan earthquake
created an expected pause in short term order flow -- as their semiconductor
plants recover and return to full production -- we don't anticipate long-term
effects on our business. Further benefiting our profit improvement during the
quarter is A T M I's continued reduction of its relative overhead costs, thereby
improving operating margins. Shortly after the close of the quarter, A T M I
announced the proposed acquisition of Newform, NV of Belgium, which will further
broadens our presence in Europe and expands our specialty packaging business. On
closing, A T M I will exchange 550,000 of its common shares for Newform, in a
pooling of interests transactions." |
