The Company Reports Fourth-Quarter Sales of $164 million and Non-GAAP EPS of $0.16;
Fourth-Quarter Cash From Operations was $45 Million
BILLERICA, Mass., February 1, 2012 – Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the Company’s fourth quarter and fiscal year ended December 31, 2011.
The Company recorded fourth-quarter sales of $163.9 million, a decline of 10 percent from the prior year, and 5 percent sequentially. Net income was $40.8 million, or $0.30 per share. These results included amortization of intangible assets of $2.5 million and a one-time income tax benefit of $21.0 million. Non-GAAP earnings per share of $0.16 in the fourth quarter of 2011 compared to $0.23 in the fourth quarter a year ago and $0.17 in the third quarter of 2011. A reconciliation table of GAAP to non-GAAP earnings per share is contained in this press release.
Fiscal 2011 sales were $749.3 million, representing a 9 percent increase compared to sales of $688.4 million in 2010. Net income per share of $0.91 compared to net income of $0.63 per share a year earlier. On a non-GAAP basis, net income per share in fiscal 2011 was $0.80 compared with net income per share of $0.71 for the year earlier.
Gideon Argov, president and chief executive officer, said: “We are pleased to report our second consecutive record year in terms of revenue, earnings, and operating cash flow. We executed well operationally and achieved market share gains in several key markets. Given our strategic initiatives to address the most challenging contamination control needs in the semiconductor and adjacent high-technology industries, we are excited about the growth opportunities ahead.”
“While production levels for much of the semiconductor industry remained flat in the fourth quarter, we are seeing strength in technology-driven demand for some of our latest generation products geared toward leading-edge semiconductor processes,” Argov said.
Read the continuation of Entegris reports record sales in 2011.