and the price goes down ??
A T M I Reports Record Third Quarter Financial Results; Revenues Increase 47%, earnings up 87%
DANBURY, Conn.--(BUSINESS WIRE)--Oct. 18, 2000--A T M I, Inc. (Nasdaq: ATMI), today announced that its revenues increased 47%, compared to a year ago, to $78.9 million for its third quarter. On a sequential basis, revenue increased 11.3% over the $71.1 million posted in the second quarter of 2000. Net income grew 87% on a year over year basis to $11.2 million, excluding one-time transaction costs in the quarter. A T M I's earnings per share were $0.36, excluding the one-time expense of $1.5 million related to the July acquisition of ESCA, an increase of 71% over $0.21 per share a year ago. Including the one-time charge, EPS was $0.32 for the third quarter. All financial results have been restated to take into account the ESCA pooling transaction.
A T M I's revenues were $213.1 million for the nine months ending September 30th, an increase of 49% compared with 1999. Net income, not including one-time gains or expenses, improved to $29.3 million, or $0.97 per share, compared with $12.6 million, or $0.44 per share, for the period in 1999. Including the one-time gains and expenses, net income was $33.1 million, or $1.09 per share for the nine months in 2000.
Gene Banucci, CEO, said, "The Company continued to make excellent progress in the third quarter - it was our eighth straight quarter of significant sequential growth. Our orders are strong and lead us to believe there will be continued overall sequential growth in our business. To reinforce that opinion, we have recently announced several major strategic investments, primarily in the wireless and optical materials segments, where growth rates are exceptional.
Dan Sharkey, CFO, commented, "The sequential revenue growth in Q3 was lead by our Technologies segment enjoying the continued strength in the capacity expansion cycle in our industry. The product lines within our Technologies segment (restated to include the ESCA business) showed revenue growth to $43.5 million, 14% above Q2 levels. Our Materials segment grew 8% sequentially, to $35.4 million. In the third quarter our SDS product line performed exceptionally, continuing a pattern of solid growth when measured on a six-month rolling basis. Our Services business also did very well as the capacity commitments we made earlier this year came on line to an immediately sold-out condition. We are continuing to aggressively invest in capacity for this business, and as our recent announcements have indicated, we are now at a point where new facilities will also have to be added to keep up with demand.
Our Systems business, primarily semiconductor front-end environmental equipment, also continued a revenue growth rate in line with the ongoing industry expansion. Order rates continued to accelerate during the quarter, in line with our historical lag in relation to published front-end equipment bookings data.
A T M I provides specialty materials, and related equipment systems and services for the worldwide semiconductor industry.
Replay of A T M I's earnings conference call is available via audio streaming on the Internet at both streetfusion.com and streetevents.com. |
