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Entegris Reports First-Quarter Sales Of $165 Million

Stocks in this article: ENTG

BILLERICA, Mass., April 23, 2013 (GLOBE NEWSWIRE) -- Entegris, Inc. (Nasdaq:ENTG) today reported its financial results for the Company's first quarter ended March 30, 2013.

The Company recorded first-quarter sales of $165.1 million, which compared to $167.8 million in the fourth quarter of 2012 and $175.4 million in the first quarter a year ago. First-quarter operating margin was 12.3 percent, with adjusted operating margin of 13.7 percent, excluding amortization of intangible assets of $2.3 million. Net income for the first quarter was $16.4 million, or $0.12 per share. Non-GAAP earnings per share of $0.13 in the first quarter of 2013 compared to $0.09 in the fourth quarter of 2012 and $0.14 in the first quarter of 2012. A reconciliation table of GAAP to non-GAAP earnings per share and operating margin is contained in this press release.

Bertrand Loy, president and chief executive officer, said: "The first-quarter sales trends were consistent with our expectations. Sales declined modestly from the fourth quarter reflecting the seasonally soft semiconductor production in Asia and weakness in PC-related semiconductor demand, as well as a negative impact from foreign currency. Sales of our Contamination Control Solutions products declined 6 percent sequentially; sales of Microenvironment products grew 3 percent, and sales of Specialty Materials products were up 14 percent.

"On an operating basis, we executed well. We achieved an adjusted operating margin of 13.7 percent due to an improved gross margin and tight control of operating expenses."

For the fiscal second quarter ending June 30, 2013, the Company expects sales to be flat to up five percent sequentially, or approximately $165 million to $173 million, and EPS to range between $0.09 to $0.11 per share. On a non-GAAP basis, EPS is expected to range from $0.10 to $0.12 per share, which reflects net income on a non-GAAP basis in the range of $14 million to $17 million, which is adjusted for expected amortization expense of $2.6 million or $0.01 per share.

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