updated 4/20/2011 7:16:33 AM ET 2011-04-20T11:16:33

DANBURY, Conn., April 20, 2011 (GLOBE NEWSWIRE) -- ATMI, Inc. (Nasdaq:ATMI) today reported record revenues of $100.7 million, for the first quarter of 2011 compared with $85.3 million in the first quarter of 2010. Net income was $8.0 million, compared with $8.7 million for the first quarter last year. Earnings per diluted share were $0.25, compared with $0.27 per diluted share in the first quarter of 2010.

"The wafer start environment in the first quarter was slightly stronger than we expected it to be, and our base business reflected that strength across the product spectrum. We anticipate this trend to continue into the second quarter," said Doug Neugold, ATMI Chairman, Chief Executive Officer, and President. "Our new product expectations for 2011 are intact for both our semiconductor and life sciences product lines, and we are working aggressively to accelerate revenue growth from our Artelis acquisition."

Neugold continued, "The investments we have made in High Productivity Development capabilities over the last few years are starting to show tangible returns as leading foundry, memory, and integrated device manufacturers begin to ramp technology nodes where our products are process of record."

"We generated better-than-market revenue growth during the quarter and kept operating expenses flat compared to last quarter," said Tim Carlson, Chief Financial Officer. "Operating expenses increased from the prior year quarter, to $36.4 million. This increase is principally due to our investments in our High Productivity Development platform and operating activities associated with our Artelis acquisition, which closed in the fourth quarter of 2010."

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, April 20, 2011. A replay of the call will be available for 48 hours at 800.642.1687 (access code 38202290). 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 http://www.atmi.com .

The ATMI, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5254

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 2011 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, 2010, and other subsequent filings, including the March 31, 2011 Form 10-Q, filed 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.

(in thousands, except per share data)
  Three Months Ended
  March 31,
   2011  2010
Revenues $100,724 $85,311
Cost of revenues  52,633   43,622
Gross profit 48,091 41,689
Operating expenses:    
 Research and development 13,451 9,723
 Selling, general, & administrative  22,982   19,972
 Total operating expenses 36,433 29,695
Operating income 11,658 11,994
Other income, net    300   240
Income before income taxes 11,958 12,234
Provision for income taxes   3,951  3,568
Net income  $8,007 $8,666
Diluted earnings per share $0.25 $0.27
Weighted average shares outstanding 32,384 32,024
(in thousands)
  March 31,  
  2011 December 31,
  (Unaudited)  2010
 Cash & marketable securities (1) $130,763 $127,143
 Accounts receivable, net 53,543 54,518
 Inventories, net 65,858 62,832
 Other current assets  36,531  38,507
 Total current assets 286,695 283,000
 Property, plant, and equipment, net 118,414 119,053
 Marketable securities, non-current (1) 28,913 25,429
 Other assets  113,811  106,107
 Total assets $547,833 $533,589
Liabilities and stockholders' equity    
 Accounts payable $ 24,739 $ 21,045
 Other current liabilities  21,477  25,692
 Total current liabilities 46,216 46,737
 Non-current liabilities 29,835 28,427
 Stockholders' equity  471,782  458,425
 Total liabilities & stockholders' equity $547,833 $533,589
(1) Total cash and marketable securities equaled $159.7 million and
$152.6 million at March 31, 2011 and December 31, 2010, respectively.
CONTACT: Dean Hamilton, Director, ATMI Investor Relations & Corporate
         203.207.9349, Direct
         203.794.1100 x4202

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com