ST. PAUL, Minn., July 21, 2010 (GLOBE NEWSWIRE) -- Aetrium Incorporated (Nasdaq:ATRM) today announced results for its second quarter ended June 30, 2010. Revenue for the quarter was $5,016,000, an increase of 323% over revenue of $1,185,000 in the second quarter of 2009 and an increase of 9% over revenue of $4,618,000 in the first quarter of 2010. Net income for the quarter was $94,000, or $0.01 per share, as compared to a net loss of $832,000, or $0.08 per share, in the second quarter of 2009, and net income of $202,000, or $0.02 per share, in the first quarter of 2010.

"The semiconductor industry recovery continues to build, as the tremendous growth in our revenues from one year ago indicates," John J. Pollock, president of the company, commented. "We were also very pleased to post additional improvement in our gross margins, strong positive cash flow, and a positive book to bill ratio. Other highlights of the quarter were solid progress on an evaluation of our next generation eight site 55V16 MAX test handler at one of our largest long term customers, and the capture of another new customer for our test handler product line. Since the end of the quarter we have also received a new customer order for our 1164 reliability test systems from a top ten integrated circuit (IC) manufacturer. All indications point toward continued growth conditions in our industry, and we expect to continue to have positive results in the second half of 2010."

Certain matters in this news release are forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, adverse domestic or global economic conditions, slowing growth in the demand for semiconductor devices, the volatility and cyclicality of the microelectronics industry, changes in the rates of capital expenditures by semiconductor manufacturers, progress of product development programs, unanticipated costs associated with the integration or restructuring of operations, and other risk factors set forth in the company's SEC filings, including its Form 10-K for the year ended December 31, 2009.

Aetrium, based in North St. Paul, Minnesota, is a leading supplier of proprietary technologies and equipment that are used by the worldwide semiconductor industry to test ICs. The company's products are used by customers to advance reliability, improve quality, increase product yield or improve manufacturing processes. Aetrium's common stock is publicly traded on the Nasdaq market under the symbol ATRM.  More information about Aetrium is available on the internet at www.Aetrium.com.

The Aetrium Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6943  
Aetrium Incorporated      
Consolidated Statements of Operations      
(Unaudited)      
(in thousands, except per share data)      
         
  Three Months ended Six Months ended
   June 30,  June 30,
  2010 2009 2010 2009
         
         
Net sales  $ 5,016  $ 1,185  $ 9,634  $ 2,936
 Cost of goods sold 2,621 848 5,243 2,099
Gross profit 2,395 337 4,391 837
Gross profit percent 47.7% 28.4% 45.6% 28.5%
         
Operating expenses:        
 Selling, general and administrative (1) 1,563 1,130 2,677 2,330
 Research and development 813 529 1,509 1,004
 Total operating expenses 2,376 1,659 4,186 3,334
         
Income (loss) from operations 19 (1,322) 205 (2,497)
 Interest income, net 18 46 34 84
Income (loss) before income taxes 37 (1,276) 239 (2,413)
 Income tax benefit (2)  57 444  57 841
         
Net income (loss) (3)  $ 94  $ (832)  $ 296  $ (1,572)
         
Income (loss) per share (3):        
 Basic  $ 0.01  $ (0.08)  $ 0.03  $ (0.15)
 Diluted  $ 0.01  $ (0.08)  $ 0.03  $ (0.15)
         
Weighted average common shares outstanding:        
 Basic  10,689  10,598  10,652  10,598
 Diluted  10,970  10,598  10,851  10,598
         
         
1.  Selling, general and administrative expenses for the six months ended June 30, 2010 includes a credit of $190 related to the settlement of a legal dispute with a subtenant of the company's former leased facility in Poway, California. 
2.  Income tax benefit for the three and six months ended June 30, 2010 includes $57 related to a federal carryback claim filed in 2010 for a refund of Alternative Minimum Taxes paid in prior years. 
3.  The impact of the $57 income tax benefit described above was to increase net income from $37 ($0.00 per basic and diluted share) to $94 ($0.01 per basic and diluted share) for the three months ended June 30, 2010. The impact of the $190 credit and $57 income tax benefit described above was to increase net income from $49 ($0.00 per basic and diluted share) to $296 ($0.03 per basic and diluted share) for the six months ended June 30, 2010.  
Aetrium Incorporated
Consolidated Balance Sheets 
(Unaudited)
(In Thousands)
     
     
  June 30, December 31,
  2010 2009
Assets:    
 Current assets:    
 Cash and cash equivalents  $ 10,020  $ 9,476
 Accounts receivable, net  3,248  2,114
 Inventories - operations  7,505  7,472
     
Inventories -- shipped equipment, subject to revenue deferral  49  --
Other current assets  219  234
Total current assets  21,041  19,296
     
 Property and equipment, net  87  98
     
Total assets  $ 21,128  $ 19,394
     
     
Liabilities and shareholders' equity:    
 Current liabilities:    
 Trade accounts payable  $ 1,579  $ 707
 Other current liabilities  715  669
Total current liabilities  2,294  1,376
     
 Shareholders' equity  18,834  18,018
     
Total liabilities and shareholders' equity  $ 21,128  $ 19,394
CONTACT:  Aetrium Incorporated          Doug Hemer          (651) 773-4274

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