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ATMI Reports Record Revenues And Net Income For Third Quarter 2012

DANBURY, Conn., Oct. 24, 2012 (GLOBE NEWSWIRE) -- ATMI, Inc. (Nasdaq:ATMI) today reported record revenues and net income for the third quarter of 2012.

Revenues were $108.8 million during the third quarter of 2012 compared with $95.0 million last year, due to the positive contribution from last year's SDS ® Direct transaction, strong demand for single-use equipment in LifeSciences, and royalties recognized in the quarter. Net income for the quarter was $14.4 million, or $0.44 per diluted share, compared with $8.0 million, or $0.25 per diluted share, during the prior year period.

"We clearly encountered a bit of a headwind in the Microelectronics markets that impacted wafer starts during the third quarter," said Doug Neugold, Chief Executive Officer. "Against that backdrop, our SDS Direct transaction continued to perform in line with expectations and our customers are moving forward with production plans for the 28nm and 20nm nodes, where we are well positioned with leading-edge products. LifeSciences revenues, while down from the previous quarter as expected given the European seasonal effect, were strong versus the prior year as customers continue to adopt our single-use technology."

Segment Results (all comparisons to same period in 2011)

Microelectronics

  • Revenues grew 15 percent to $98.5 million
  • Results included $7.4 million incremental revenues from SDS Direct and a $2.6 million royalty
  • Operating income grew 41 percent due to revenue growth, the royalty, and completion of a collaborative development agreement

LifeSciences

  • Revenues improved 13 percent to $10.4 million
  • Strong demand for single-use equipment, which will benefit future periods as consumables ramp when customers begin high-volume manufacturing
  • Operating loss due to continued investment in new product development

Market Environment

"Consistent with external data points, we anticipate wafer starts to be down seasonally in the fourth quarter, impacting Microelectronics," commented Neugold. "However, longer term trends remain favorable as customers increase production at advanced nodes. We are investing in a new manufacturing facility in Korea to work more closely with our Asian customers. LifeSciences is on track for a strong finish to the year after the seasonally soft third quarter, with long-term growth driven by the move to high-volume production using single-use technology. Given the macroeconomic uncertainties, we will continue to closely monitor and control our discretionary cost structures in the near term."

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