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TheStreet Open House

Entegris Reports Financial Results For Third Quarter Of Fiscal 2013

Stocks in this article: ENTG

  • Revenue of $164.6 million, down 7 percent sequentially
  • GAAP net income of $17.8 million, or $0.13 per share; Non-GAAP net income of $18.9 million, or $0.14 per share
  • Operating margin of 14.5 percent; Adjusted operating margin of 14.8 percent
  • Net cash generated from operations of $32.4 million

BILLERICA, Mass., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Entegris, Inc. (Nasdaq:ENTG) today reported its financial results for the Company's third quarter ended September 28, 2013.

The Company recorded third-quarter sales of $164.6 million, a decline of 7 percent sequentially, and an 11 percent decline from the prior year third quarter. Third-quarter operating margin was 14.5 percent, with an adjusted operating margin of 14.8 percent, excluding amortization of intangible assets of $2.3 million and a contingent consideration fair value adjustment of $1.8 million. Net income for the third quarter was $17.8 million, or $0.13 per share. Non-GAAP earnings per share of $0.14 in the third quarter of 2013 compared to $0.15 in the second quarter of 2013 and $0.16 in the third 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 nine months of fiscal 2013, sales were $507.2 million, down 7 percent from the first nine months of 2012. Net income for the first nine months of 2013 was $54.0 million, or $0.39 per share, compared to $57.6 million, or $0.42 per share, for the same period a year ago. Non-GAAP earnings per share for the first nine months of 2013 were $0.42 per share versus $0.46 per share a year ago.

Bertrand Loy, president and chief executive officer, said: "After a strong second quarter, our third quarter sales declined as we expected. The results reflect a mixed industry picture, as pockets of intensified technology spending by some semi makers were in contrast with slowing industry production rates for some high-end devices. Even so, order trends for our products were favorable through the end of the quarter and point to higher revenues in the fourth quarter."

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