Aetrium Reports Second Quarter Results
Aetrium, based in North St. Paul, Minnesota, is a leading supplier of proprietary technologies and equipment that are used by the worldwide semiconductor industry to test ICs. The company's products are used by customers to advance reliability, improve quality, increase product yield or improve manufacturing processes. Aetrium's common stock is publicly traded on the Nasdaq market under the symbol ATRM. More information about Aetrium is available on the internet at www.Aetrium.com.
The Aetrium Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6943
|Consolidated Statements of Operations|
|(in thousands, except per share data)|
|Three Months ended||Six Months ended|
|June 30,||June 30,|
|Net sales||$ 5,016||$ 1,185||$ 9,634||$ 2,936|
|Cost of goods sold||2,621||848||5,243||2,099|
|Gross profit percent||47.7%||28.4%||45.6%||28.5%|
|Selling, general and administrative (1)||1,563||1,130||2,677||2,330|
|Research and development||813||529||1,509||1,004|
|Total operating expenses||2,376||1,659||4,186||3,334|
|Income (loss) from operations||19||(1,322)||205||(2,497)|
|Interest income, net||18||46||34||84|
|Income (loss) before income taxes||37||(1,276)||239||(2,413)|
|Income tax benefit (2)||57||444||57||841|
|Net income (loss) (3)||$ 94||$ (832)||$ 296||$ (1,572)|
|Income (loss) per share (3):|
|Basic||$ 0.01||$ (0.08)||$ 0.03||$ (0.15)|
|Diluted||$ 0.01||$ (0.08)||$ 0.03||$ (0.15)|
|Weighted average common shares outstanding:|
|1. Selling, general and administrative expenses for the six months ended June 30, 2010 includes a credit of $190 related to the settlement of a legal dispute with a subtenant of the company's former leased facility in Poway, California.|
|2. Income tax benefit for the three and six months ended June 30, 2010 includes $57 related to a federal carryback claim filed in 2010 for a refund of Alternative Minimum Taxes paid in prior years.|
|3. The impact of the $57 income tax benefit described above was to increase net income from $37 ($0.00 per basic and diluted share) to $94 ($0.01 per basic and diluted share) for the three months ended June 30, 2010. The impact of the $190 credit and $57 income tax benefit described above was to increase net income from $49 ($0.00 per basic and diluted share) to $296 ($0.03 per basic and diluted share) for the six months ended June 30, 2010.|
|Consolidated Balance Sheets|
|June 30,||December 31,|
|Cash and cash equivalents||$ 10,020||$ 9,476|
|Accounts receivable, net||3,248||2,114|
|Inventories - operations||7,505||7,472|
|Inventories -- shipped equipment, subject to revenue deferral||49||--|
|Other current assets||219||234|
|Total current assets||21,041||19,296|
|Property and equipment, net||87||98|
|Total assets||$ 21,128||$ 19,394|
|Liabilities and shareholders' equity:|
|Trade accounts payable||$ 1,579||$ 707|
|Other current liabilities||715||669|
|Total current liabilities||2,294||1,376|
|Total liabilities and shareholders' equity||$ 21,128||$ 19,394|
CONTACT: Aetrium Incorporated Doug Hemer (651) 773-4274
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