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Aetrium Reports Fourth Quarter And Year-End 2010 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 integrated circuits. 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

Aetrium Incorporated
Consolidated Statements of Operations
(Unaudited)
(in thousands, except per share data)
         
         
  Three Months ended  December 31, Year ended  December 31,
  2010 2009 2010 2009
         
         
Net sales  $ 1,667  $ 2,685  $ 16,258  $ 8,649
 Cost of goods sold (1) 1,491 1,781 9,413 5,528
Gross profit 176 904 6,845 3,121
Gross profit percent (1) 10.6% 33.7% 42.1% 36.1%
         
Operating expenses:        
 Selling, general and administrative (2) 1,743 1,557 5,853 5,169
 Research and development 672 544 3,022 2,195
 Total operating expenses 2,415 2,101 8,875 7,364
         
Loss from operations (2,239) (1,197) (2,030) (4,243)
 Interest income, net 16 23 71 136
Loss before income taxes (2,223) (1,174) (1,959) (4,107)
 Income tax benefit (expense) (3)  --  (3,644)  57 (2,621)
         
Net loss  $ (2,223)  $ (4,818)  $ (1,902)  $ (6,728)
         
         
Loss per share (basic and diluted)  $ (0.21)  $ (0.45)  $ (0.18)  $ (0.63)
         
Weighted average common shares outstanding (basic and diluted)  10,781  10,600  10,713  10,599
         
         
         
         
         
  Three Months ended  December 31, Year ended  December 31,
  2010 2009 2010 2009
         
(1) Cost of goods sold includes inventory obsolescence charges of $423 for the three months and year ended December 31, 2010 and $155 for the three months and year ended December 31, 2009. The impact of these charges was to reduce gross profit percent as indicated below:
         
Gross profit percent, excluding obsolescence charges 35.9% 39.4% 44.7% 37.9%
Gross profit percent, including obsolescence charges 10.6% 33.7% 42.1% 36.1%
         
(2) Selling, general and administrative expenses includes the following:    
Deferred compensation charge related to retirement benefits approved in November 2010 for Aetrium's then Chief Executive Officer and Chief Administrative Officer. There will be no charges in future periods related to these retirement benefits.  $ 588  $ --   $ 588  $ -- 
         
Charge (credit) related to a legal dispute with a subtenant of a former leased facility  --   372  (190)  372
         
(3) Income tax benefit (expense) includes the following:      
 Income tax benefit  --   420  57  1,443
 Increase in valuation allowance on deferred tax assets  $ --   $ (4,064)  $ --   $ (4,064)
         
 
Aetrium Incorporated
Consolidated Balance Sheets 
(Unaudited)
(In Thousands)
     
  December 31, 2010 December 31, 2009
Assets:    
 Current assets:    
 Cash and cash equivalents  $ 10,033  $ 9,476
 Accounts receivable, net  862  2,114
 Inventories - operations  7,358  7,472
 Inventories -- shipped equipment, subject to revenue deferral  24  --
 Other current assets  67  234
Total current assets  18,344  19,296
     
 Property and equipment, net  98  98
     
 Other assets  41  --
     
Total assets  $ 18,483  $ 19,394
     
     
Liabilities and shareholders' equity:    
 Current liabilities:    
 Trade accounts payable  $ 502  $ 707
 Other current liabilities  714  669
Total current liabilities  1,216  1,376
     
 Noncurrent accrued expenses  377  --
     
 Shareholders' equity  16,890  18,018
     
Total liabilities and shareholders' equity  $ 18,483  $ 19,394
CONTACT: Doug Hemer
         Aetrium Incorporated
         (651) 773-4274

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