ATMI Reports First Quarter Results; Revenues Up 14% and Earnings up 54% Sequentially
DANBURY, Conn.--(BUSINESS WIRE)--April 21, 1999--ATMI, Inc.
(Nasdaq: ATMI), today announced results for its first quarter ending
March 31, 1999. Revenues were $24.0 million, up nearly 14%
sequentially from $21.1 million in 1998's fourth quarter, but down 21%
from 1998's first quarter revenues of $30.5 million. Net income
improved by approximately 54% to almost $2.0 million, compared with
$1.3 million in the fourth quarter, but below the $4.6 million
recognized in the first quarter of 1998. Diluted earnings per share
were $0.09 for the first quarter of 1999, an increase of 50% over EPS
of $0.06 for the fourth quarter of 1998. Diluted earnings per share
for the first quarter of 1998 were $0.22.
Gene Banucci, ATMI CEO, said, "ATMI's improved results reflect
the recovery of the semiconductor industry from the depths of the 1998
downturn. In trends that bode well for both ATMI and the industry, we
see what we believe to be continued strength in customer orders."
Dan Sharkey, CFO, commented, "ATMI's order rates appear to be
improving, especially for our Materials unit. SDS(R) Gas Source sales
have been stronger than we anticipated during the first quarter. In
fact, our overall consumable materials sales show a significant
bounceback, with improved margins. However, the more capacity-related
businesses of the Technologies unit continue to lag, even though
customers have indicated greater product interest."
ATMI provides products and services for semiconductor device
manufacture through its Materials and Technologies units. ATMI
Materials includes ADCS thin film materials and delivery systems,
NovaSource sub-atmospheric gas delivery systems, and NOW high-purity
materials packaging systems. ATMI Technologies includes EcoSys
environmental equipment, Epitronics thin film deposition services,
Emosyn smart card solutions and other ATMI ventures. |
