Aetrium Reports Third Quarter Results
ST. PAUL, Minn., Oct. 21, 2010 (GLOBE NEWSWIRE) -- Aetrium Incorporated (Nasdaq:ATRM) today announced results for its third quarter ended September 30, 2010. Revenue for the quarter was $4,957,000, an increase of 64% over revenue of $3,028,000 in the third quarter of 2009 and flat to revenue of $5,016,000 in the second quarter of 2010. Net income for the quarter was $25,000, or $0.00 per share, as compared to a net loss of $338,000, or $0.03 per share, in the third quarter of 2009, and net income of $94,000, or $0.01 per share, in the second quarter of 2010.
"We continued to perform at around the break-even level in the third quarter as our customers continue to add equipment conservatively to address only proven needs," John J. Pollock, president and chief operating officer of the company, commented. "We made some important milestones in the quarter, however, one being the successful completion of an evaluation of our next generation eight site VMAX test handler at one of our largest long term customers. That customer has now completed its evaluation of competing handlers, and we expect to hear from the customer shortly on its selection of eight site handling for its leadless packages. Another highlight was shipment of our first revenue unit late in the quarter to a top ten integrated circuit (IC) manufacturer, our newest customer for our 1164 reliability test systems.
"Going forward," Mr. Pollock continued, "our visibility remains limited and our fourth quarter performance will depend upon orders booked and shipped in the quarter."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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