Entegris Reports Non-GAAP Earnings per Share of $0.16 in Second Quarter
-Quarterly Sales of $168 Million Up 103 Percent from Prior Year and 4 Percent Sequentially;
-$28 million of Cash From Operations Generated in Second Quarter;
-Credit Facility Balance Now Fully Repaid
BILLERICA, Mass., July 27, 2010 – Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the Company’s second quarter ended July 3, 2010, marking the Company’s fifth consecutive quarter of organic growth.
The Company recorded second-quarter sales of $167.6 million, an increase of 103 percent over the prior year, and four percent sequentially. Net income was $18.4 million, or $0.14 per diluted share. These results included amortization of intangible assets of $3.4 million.
Non-GAAP earnings per share of $0.16 in the second quarter of 2010 compared to a loss per share of $0.16 in the second quarter a year ago and $0.15 per diluted share in the first quarter of 2010. A reconciliation table of GAAP to non-GAAP earnings (loss) per share is contained in this press release.
For the first half of fiscal 2010, sales were $328.1 million, up 132 percent from the first half of 2009. Non-GAAP earnings per diluted share for the first six months of 2010 were $0.30 versus a loss per share of $0.41 for the same period a year ago.
Gideon Argov, president and chief executive officer, said: “We continued to successfully implement our strategies for growth that capitalize on the strength and potential of our core semiconductor market as well as adjacent new market opportunities. Our advanced contamination control and icroenvironment solutions for the most demanding processes, including 32 nanometer and below, are getting good traction with customers and position us for additional share gains in the future. As a result of the steps we’ve taken thus far and the
favorable business trends in the semiconductor and microelectronics markets, we expect the second half of the year will be stronger than the first half.
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