ATMI UPDATES OUTLOOK FOR 3rd QUARTER
DANBURY, CT - September 26, 2002 - ATMI, Inc. (Nasdaq: ATMI), a
supplier of materials and services to the world's leading semiconductor
manufacturers, today announced it expects to report an operating loss of
between $0.05 to $0.10 per fully diluted share, excluding any special
charges, for the third quarter ended September 30th. Revenues are expected
to be about 35% higher than the third quarter a year ago, but between 5% to
8% lower than those of the second quarter of 2002.
The Company will announce its third quarter financial results on
October 16th prior to the opening of the Nasdaq stock market.
"The lower than anticipated results are due primarily to slowing
semiconductor wafer starts worldwide," said Gene Banucci, Chief Executive
Officer. "The revenue shortfall also reflects lower order rates for our
SDS(r) ion implant product as Asian customers, apparently worried about
access to supplies, increased their inventories in the second quarter. We
believe SDS continues to gain market share, but customers remain cautious
about placing orders throughout the semiconductor food chain."
"Obviously, we are concerned about the nature of this marketplace
setback. We made very good financial progress during the first half of
2002, and continue to make excellent progress on new products. Nonetheless,
it is not our nature to sit idly by waiting for the marketplace to fully
recover. Our options are to further reduce our infrastructure - as many
other companies in our market are now doing - or to take strategic action
that will reposition ATMI to be even stronger when the marketplace fully
recovers. Although we continue to take actions to trim infrastructure
wherever possible, we primarily favor the latter course."
"As our Gallium Arsenide epi business has continued to deteriorate, we
intend to withdraw from that business by virtue of a sale or partnership.
Although we have not made a determination of the specific amount, it is
anticipated that a write-down of most of the estimated $40 million invested
in the business will be required." |
