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Technology Stocks : ATMI-THE NEXT AMAT? -- Ignore unavailable to you. Want to Upgrade?

To: Paul Lee who wrote (337)	7/22/1998 9:31:00 AM
From: JakeStraw	Respond to of 677

ATMI Reports Second Quarter Results Semiconductor Industry Slowdown Reduces Revenues & Earnings to Pre-Announced Levels DANBURY, Conn.--(BUSINESS WIRE)--July 22, 1998-- ATMI, Inc. (Nasdaq: ATMI - news), today announced results for its quarter ending June 30, 1998. Revenues were $21.6 million, down 8% from $23.5 million in the second quarter of 1997. Revenues for the first half of 1998 were $49 million, up 6% compared to the first half of 1997. Earnings for the quarter were $1.5 million, compared with $2.6 million in 1997, with diluted earnings per share declining 50%, to $0.07 per share. For the first half of 1998, net income increased 17%, to $6 million, contrasted with $5.1 million last year. Year-to-date diluted earnings per share for 1998 are $0.30 per share, 11% above 1997's $0.27. Gene Banucci, ATMI CEO, said, ''Obviously, the second quarter was difficult, both for ATMI and the semiconductor industry. As semiconductor unit volumes dropped, end-user sensitivity to inventories also increased, causing a severe early quarter drop-off in revenues and orders. This type of decline in the semiconductor industry has not occurred since 1983-84 and, of course, has never happened previously at ATMI in our five years as a public company.'' ''Nonetheless, there are some positive signs. ATMI seemed to be gaining market share in each of its businesses during the first half of the year. Based on June orders, we saw incremental gains in our consumables businesses compared with the earlier part of the second quarter. Our equipment businesses, however, are being adversely affected in a more long lasting sense. Many industry analysts now expect the equipment downturn to last well into 1999.'' Dan Sharkey, CFO, commented, ''Because of industry changes, we don't expect ATMI to see the kind of growth in 1998 we've had in previous years. Since most of our business is ''book and ship'' -- rather than backlog driven -- we don't have the ability to easily foresee short-term sales trends. When we previously discussed the industry downturn and its effects on ATMI at the end of June, we felt the second and third quarters would still be industry recovery periods. We are hopeful that the fourth quarter may present indicators that the industry is back in line with its historical growth rates. ATMI provides products and services for semiconductor device manufacture, including thin film materials and delivery systems marketed through ADCS, environmental equipment marketed through EcoSys, thin film deposition services marketed through Epitronics, and sub-atmospheric gas delivery systems marketed through NovaSource. 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. web.atmi.com