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Entegris' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Unit driven sales were up 8% boosted by double-digit growth of liquid filters. Sales of other unit driven products, such as electrostatic shocks for both semiconductors, as well as solar ion implant tools remained strong. CapEx related sales grew 4% due to continuing firm demand for advanced 300 millimeter FOUPs and sales of fluid handling components for new tools for fab construction projects.

Looking at our business by market. Our semiconductor-related sales represented 74% of total, an increase of 7% from the fourth quarter. As I've just described, the increase was largely due to demand for advanced products. Revenue in our markets outside semiconductor represented 26% of our total and increased 6% from the fourth quarter. The picture in these markets is more uneven. Several of these adjacent markets, such as flat-panel display, remain weak while others, such as LED and Solar, are still digesting excess capacity built in 2011. But even with these trends, our non-SEMI business has performed relatively well.

Outlook for 2012 certainly appears brighter than it did 6 months ago. While the industry and economic forecast second half of this year are still unclear and business is off to a strong start with momentum for further growth in the second quarter. Looking beyond 2012, we feel confident about our prospects. We have a full pipeline of opportunities. Many of these opportunities relate to helping our customers stay on their own technology roadmaps for 1x and even single-digit technology nodes. The contamination issues of these nodes are requiring us to work either more closely with industry leaders and to push the boundaries of physics.

In this regard we made progress in several strategic initiatives. First, advanced filtration coatings we announced recently the creation of our i2M Center for Advanced Materials Science, new R&D and manufacturing center we built in Massachusetts. This facility will house our existing membrane manufacturing, portions of our membrane development and our coatings manufacturing, as well as R&D. Putting these technologies under one roof will create one of the most advanced nanotech centers in the world and will enable us to continue to create differentiated, high-value, unit driven products for the most advanced and demanding semiconductor application.

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