This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Entegris' CEO Discusses Q4 2011 Results - Earnings Call Transcript

On the call today are Gideon Argov, President and CEO; Bertrand Loy, Chief Operating Officer; and Greg Graves, Chief Financial Officer.

Gideon will now begin the call.

Gideon Argov

Thank you, Steve. Good morning, and thank you for joining the call. I'm pleased to report that Entegris achieved another record year in terms of sales, earnings and cash flow. We grew our sales 9%, $749 million from the prior year; achieved cash EPS of $0.80 and generated $157 million in cash from operation. Above all, we continue to execute well operationally and to move forward on our growth strategies. We're proud of this performance particularly during the year in which the industry slowed dramatically in the second half and the world contended with considerable global economic challenges.

In the fourth quarter, sales, as we anticipated, were $164 million, down 5% from the third quarter. Cash EPS was $0.16 and our adjusted operating margin was 14.08%, both in line with our target operating model. We also generated nearly $45 million in cash from operations during the quarter.

In terms of fourth quarter trends and for much of the second half of 2011, the semiconductor industry was a tale of 2 cities. Technology-driven spending by the leading semiconductor device-makers continued unabated while on the legacy side of technology spectrum, production rates in the industry remains sluggish through the fourth quarter. This was reflected in our business results. We continue to gain traction and growth with our products designed to support the brand's processes. Our mix of sales, 64% unit-driven, the 36% capital spending-driven, was virtually unchanged from the third quarter. However, we had growth in several advanced filtration product lines for wet etch and clean and photochemical applications. This was offset by lower sales of some legacy-unit driven products which has shippers used for 200 mm and below wafers.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs