ATMI sales up 17% sequentially in Q1 with loss cut to $2.7 million
Semiconductor Business News
(04/17/02 09:58 a.m. EST)
siliconstrategies.com
DANBURY, Conn. -- Semiconductor materials and services supplier ATMI Inc. today reported a 17% sequential increase in revenues to $48.4 million in the first quarter from $41.4 million in Q4 of 2001. The company's net loss for the first quarter was $2.7 million compared to a net loss of $4.6 million in the prior three-month period.
The stronger-than-expected sales growth in Q1 was partly due to inventory replenishment, but the increase was also related to improving conditions in chip-manufacturing segments, said Doug Neugold, president of ATMI. "New product sales, primarily to advanced interconnect applications, exceeded our expectations in the first quarter, for both systems and materials," he said.
The Danbury-based company cut nearly $30 million from its annual expenses last year, said Dan Sharkey, chief financial officer of ATMI. "We are seeing some positive effect now, as our overall operations inch closer to breakeven and, we hope later this year, profitability," he said. |
