ATMI Reports Fourth Quarter and 1998 Year End Results
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 10, 1999--ATMI, Inc.
(Nasdaq: ATMI), today announced financial results for its fourth
quarter, ending December 31st, and the 1998 fiscal year. Revenues for
the quarter were $21.1 million, down approximately 33% from the fourth
quarter of 1997. Net income was $1.3 million, or $0.06 per share,
compared to a loss of $4.6 million, or a loss of $0.24 per share in
the fourth quarter of 1997. The 1997 loss stemmed from a $9.0 million
one-time charge.
For the year ended December 31, 1998, revenues were $97.9
million, 16% less than 1997's revenues of $116.7 million. Excluding
one-time charges, net income was $8.7 million, compared with $14.9
million in 1997, a 42% change. Earnings per share were $0.40, compared
with EPS of $0.74 in 1997, a 46% decline. Including one-time charges,
earnings were $0.29 per share in both 1998 and 1997.
Gene Banucci, CEO, said, "Unlike many companies in our industry,
ATMI remained profitable throughout 1998 - despite a vicious
semiconductor industry downturn. Given all the turmoil, especially in
Asia, we feel ATMI has weathered the storm quite successfully."
"We believe we have gained market share in each of our businesses
during the year. We announced two new ventures - Emosyn for smart card
devices, and Q4D for semiconductor process gas sensors. We completed
our acquisition of NOW Technologies. We passed the 100 issued U.S.
patent milestone. Even though 1998 was a good year strategically for
all of ATMI, we are not pleased at the interruption of our five year
growth record."
Dan Sharkey, CFO, said, "Fourth quarter revenues from ATMI's
materials businesses grew approximately 11% sequentially, showing
evidence of a strengthening in semiconductor unit demand during the
quarter. Continuing pressure on equipment product sales and sequential
declines in both our epi service business and contract revenues
contributed to approximately flat revenues overall."
ATMI's business plan is to become a "one-stop" provider of all
specialty materials needed to manufacture semiconductors. To
facilitate that strategy, ATMI is pleased to announce the promotion of
Doug Neugold to Executive Vice-President of ATMI Materials. ATMI
Materials includes ADCS, NovaSource, and NOW, all of which supply key
specialty materials and delivery systems for chip production. Peter
Kirlin has been named Executive Vice-President of ATMI Technologies,
which includes EcoSys, Epitronics, Emosyn, and other ATMI ventures.
Recognizing the increasing visibility of the Emosyn fabless smart card
venture, Nicholas Wood has been promoted to President of ATMI's new
Emosyn division |
