ATMI Reduces Financial Guidance for Second Quarter and Full Year 2001; Presenting 5-Year Growth Plan At Investor Conference Wednesday
DANBURY, Conn.--(BUSINESS WIRE)--June 5, 2001--ATMI, Inc. (NASDAQ: ATMI) today lowered its forecast for revenue and earnings per share for the second quarter ending June 30th and fiscal year 2001, reflecting the continued slowdown in manufacturing activity among its semiconductor customers.
"The operating environment became more difficult in the second quarter, with demand patterns so far tracking a path similar to the 1984 and 1998 semiconductor downturns," said Gene Banucci, chairman and chief executive officer. "The macro-economic environment, which is characterized by lower demand and high inventory levels among our core customers, makes projecting the next few quarters problematic."
"Given the lack of visibility but extrapolating from past experience, our best estimate is that ATMI will generate second quarter revenues roughly 20% below the $71.1 million reported a year earlier, and full year revenues in the range of 10% to 15% below fiscal year 2000," he said. "On the same basis, we anticipate earnings per share in the current quarter to be in the range of $0.01 to $0.05. Based on our view of gradually increasing demand in the third and fourth quarters, we anticipate generating earnings growth over second quarter levels. In addition, we are beginning to realize the benefits of our previously announced restructuring and other ongoing cost savings initiatives."
The Company announced the revised guidance in advance of its 2001 Investor Conference June 6th in New York City, at which it will highlight both its strategic growth plan through 2005 as well as current and emerging trends in semiconductor manufacturing. A complete webcast of the conference will be available at www.atmi.com |
