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Entegris Reports Financial Results For Second Quarter Of Fiscal 2013

  • Revenue of $177.5 million, up 8 percent sequentially
  • GAAP net income of $19.8 million, or $0.14 per share; Non-GAAP net income of $21.3 million, or $0.15 per share
  • Operating margin of 14.9 percent; Adjusted operating margin of 16.2 percent
  • Net cash generated from operations of $34.8 million

BILLERICA, Mass., July 23, 2013 (GLOBE NEWSWIRE) -- Entegris, Inc. (Nasdaq:ENTG) today reported its financial results for the Company's second quarter ended June 29, 2013.

The Company recorded second-quarter sales of $177.5 million, an increase of 8 percent sequentially, and a 6 percent decline from the prior year second quarter. Second-quarter operating margin was 14.9 percent, with an adjusted operating margin of 16.2 percent, excluding amortization of intangible assets of $2.4 million. Net income for the second quarter was $19.8 million, or $0.14 per share. Non-GAAP earnings per share of $0.15 in the second quarter of 2013 compared to $0.13 in the first quarter of 2013 and $0.16 in the second quarter of 2012. A reconciliation table of GAAP to non-GAAP earnings per share and operating margin is contained in this press release.

For the first half of fiscal 2013, sales were $342.6 million, down 6 percent from the first half of 2012. Net income for the first half of 2013 was $36.2 million, or $0.26 per share, compared to $39.5 million, or $0.29 per share, for the same period a year ago. Non-GAAP earnings per share for the first six months of 2013 were $0.28 per share versus $0.30 per share a year ago.

Bertrand Loy, president and chief executive officer, said: "The second-quarter sales were stronger than expected as semiconductor makers continued to ramp production on their most advanced fabs. Sales of our Contamination Control Solutions products increased 10 percent sequentially, driven primarily by a record quarter for liquid filter products and higher sales of fluid handling components and gas purification products. Sales of Microenvironment products grew 4 percent, and sales of Specialty Materials products were even with the first quarter levels.

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