earnings $.14,up 100%(concensus estimate $.14); revenues up 10%
Wednesday July 23 9:03 AM EDT
Company Press Release
ATMI Reports Record Second Quarter Results
Earnings Per Share Increase 100%
DANBURY, Conn.--(BUSINESS WIRE)--July 23, 1997--Advanced Technology Materials Inc.
(Nasdaq:ATMI), today announced record revenues of $13,632,000 for 1997's second quarter, an
increase from $12,376,000 in the comparable period last year.
Net income was $1,340,000, compared to last year's $640,000. Earnings per share were 14
cents, double the 7 cents EPS of last year.
During the first half of 1997, ATMI's revenues grew 16% to $26,098,000 from $22,438,000 a
year ago. Net income was $2,446,000, more than double 1996's $1,110,000 for six months.
Earnings per share were 26 cents compared to 1996's EPS of 12 cents.
Gene Banucci, CEO, said, ``ATMI's second quarter financials do not include any effect of the
proposed ADCS and Lawrence semiconductor acquisitions, which have not closed. Pending
completion of the SEC's review of our filings, we will forward these transactions to our
shareholders for approval.''
Dan Sharkey, CFO, commented, ``ATMI's strong SDS(TM) Gas Source delivery system sales
and our EcoSys semiconductor environmental equipment business drove revenue growth during the
second quarter. The EcoSys `TEAM' -- Total Effluent Abatement Management -- strategy is being
welcomed by the industry, as shown by our recent full fab contract with Hyundai in Eugene,
Oregon. We believe our SDS(TM) Gas Source product line is continuing to rapidly grow market
share in ion implant applications. Matheson Gas Products, ATMI's distribution partner for ion
implant products, also recently announced a win for the SDS(TM) Gas Source products at the
same Hyundai fab.''
ATMI is a leading provider of advanced semiconductor materials and environmental equipment. It
is also developing next-generation semiconductor devices based on its new materials technologies.
Statements which are not historical information are forward looking, and involve risks and
uncertainties, including, but not limited to: changes in semiconductor industry growth or ATMI's
markets; competition, problems, or delays developing and commercializing new products, and
other factors discussed in ATMI's filings with the Securities and Exchange Commission.
ADVANCED TECHNOLOGY MATERIALS, INC.
SUMMARY FINANCIAL INFORMATION
Three Months Ended Six Months Ended
June 30, June 30,
1997 1996 1997 1996
Revenues
Product revenues $11,350,000 $10,164,000 $21,197,000 $17,743,000
Contract revenues 2,282,000 2,212,000 4,901,000 4,695,000
Total revenues 13,632,000 12,376,000 26,098,000 22,438,000
Cost of revenues 6,600,000 6,254,000 13,369,000 11,536,000
Gross profit 7,032,000 6,122,000 12,729,000 10,902,000
Operating expenses
R & D 2,174,000 2,185,000 4,112,000 4,048,000
S, G, & A 3,470,000 3,344,000 6,189,000 5,920,000
5,644,000 5,529,000 10,301,000 9,968,000
Operating income 1,388,000 593,000 2,428,000 934,000
Other income 177,000 131,000 350,000 287,000
Income before taxes 1,565,000 724,000 2,778,000 1,221,000
Income taxes 225,000 84,000 332,000 111,000
Net income $ 1,340,000 $ 640,000 $ 2,446,000 $ 1,110,000
Net income per share $.14 $.07 $.26 $.12
Weighted average
shares outstanding 9,618,000 9,413,000 9,584,000 9,364,000
-0-
ADVANCED TECHNOLOGY MATERIALS, INC.
SUMMARY FINANCIAL INFORMATION
Balance Sheet Highlights June 30, December 31,
1997 1996
Assets
Cash & marketable securities $18,116,000 $21,310,000
Other current assets 19,397,000 15,441,000
Other assets 15,577,000 13,367,000
Total assets $53,090,000 $50,118,000
Liabilities and stockholders' equity
Current liabilities $ 9,346,000 $ 8,714,000
Other liabilities 4,726,000 5,011,000
Stockholders' equity 39,018,000 36,393,000
Total liabilities & stockholders' equity $53,090,000 $50,118,000 |
