Aetrium Reports Second Quarter Results
ST. PAUL, Minn., July 21, 2010 (GLOBE NEWSWIRE) -- Aetrium Incorporated (Nasdaq:ATRM) today announced results for its second quarter ended June 30, 2010. Revenue for the quarter was $5,016,000, an increase of 323% over revenue of $1,185,000 in the second quarter of 2009 and an increase of 9% over revenue of $4,618,000 in the first quarter of 2010. Net income for the quarter was $94,000, or $0.01 per share, as compared to a net loss of $832,000, or $0.08 per share, in the second quarter of 2009, and net income of $202,000, or $0.02 per share, in the first quarter of 2010.
"The semiconductor industry recovery continues to build, as the tremendous growth in our revenues from one year ago indicates," John J. Pollock, president of the company, commented. "We were also very pleased to post additional improvement in our gross margins, strong positive cash flow, and a positive book to bill ratio. Other highlights of the quarter were solid progress on an evaluation of our next generation eight site 55V16 MAX test handler at one of our largest long term customers, and the capture of another new customer for our test handler product line. Since the end of the quarter we have also received a new customer order for our 1164 reliability test systems from a top ten integrated circuit (IC) manufacturer. All indications point toward continued growth conditions in our industry, and we expect to continue to have positive results in the second half of 2010."
Certain matters in this news release are forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, adverse domestic or global economic conditions, slowing growth in the demand for semiconductor devices, the volatility and cyclicality of the microelectronics industry, changes in the rates of capital expenditures by semiconductor manufacturers, progress of product development programs, unanticipated costs associated with the integration or restructuring of operations, and other risk factors set forth in the company's SEC filings, including its Form 10-K for the year ended December 31, 2009.
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