DANBURY, Conn., Oct. 20, 2010 (GLOBE NEWSWIRE) -- ATMI, Inc. (Nasdaq:ATMI) today reported revenues of $95.0 million for the third quarter of 2010, compared to $72.6 million in the third quarter of 2009. Net income was $9.5 million for the quarter, compared to net income of $6.5 million for the prior year period. Earnings per diluted share were $0.30, including a $0.05 per diluted share gain from the partial sale of an investment, compared to $0.21 per diluted share in the third quarter of 2009, which included $0.04 per diluted share of tax benefits.
For the nine months ended September 30, 2010, revenues were $271.3 million, compared with $170.1 million in the same period of 2009. Net income was $25.7 million, with earnings per diluted share of $0.80 for the nine months, including the $0.05 per diluted share gain. For the same period in 2009, net loss was $13.6 million, or $0.43 per diluted share, which included $0.21 per diluted share of unusual pretax charges and a net tax benefit of $0.04 per diluted share.
"Our strong performance in the quarter is mostly a reflection of semiconductor demand and our well-established position in materials used in advanced processes," said Doug Neugold, ATMI Chief Executive Officer and President. "While we had good results across the majority of our businesses, these advanced nodes show the most strength and resiliency. Differentiated growth for ATMI is coming from the ramping of technology generations that use our leading-edge products. Combined with the use of our development capabilities to resolve capacity constraints in existing advanced nodes, we see significant opportunity for ATMI to increase market penetration in both the short- and long-term."
"We realized gross margins of just over 48% due to favorable product mix, and added another $23 million in cash to our balance sheet during the quarter," said Tim Carlson, Chief Financial Officer. "Operating expenses increased from the prior quarter as a result of continued investment in growth markets."
A conference call (dial-in: 877.766.0748) discussing the Company's financial results and business outlook will begin at 11:00 a.m. Eastern time, October 20, 2010. A replay of the call will be available for 48 hours at 800.642.1687 (access code 52746803). An audio webcast of the conference call will be available for 30 days on atmi.com.
About ATMI
ATMI, Inc. provides specialty semiconductor materials, and high-purity materials handling and delivery solutions designed to increase process efficiencies for the worldwide semiconductor, flat panel, and life sciences industries. For more information, please visit .
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ATMI and the ATMI logo are trademarks or registered trademarks of Advanced Technology Materials, Inc., in the United States, other countries or both.
Statements contained herein that relate to ATMI's future performance, including, without limitation, statements with respect to ATMI's anticipated results of operations or level of business for 2010 or any other future period, are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations only and are subject to certain risks, uncertainties, and assumptions, including, but not limited to, changes in semiconductor industry growth (including, without limitation, wafer starts) or ATMI's markets; competition, problems, or delays developing, commercializing and delivering new products; customer-driven pricing pressure; potential loss of key customers; problems or delays in integrating acquired operations and businesses; uncertainty in the credit and financial markets; ability to protect ATMI's proprietary technology; and other factors described in ATMI's Form 10-K for the year ended December 31, 2009, and other subsequent filings with the Securities and Exchange Commission. Such risks and uncertainties may cause actual results to differ materially from those expressed in our forward-looking statements. ATMI undertakes no obligation to update any forward-looking statements.
(1) Total cash and marketable securities equaled $155.0 million and $108.0 million at September 30, 2010 and December 31, 2009, respectively.
CONTACT: ATMI, Inc. Dean Hamilton, Director, ATMI Investor Relations & Corporate Communications 203.207.9349, Direct 203.794.1100 x4202 dhamilton@atmi.com