Sales grow 7 Percent Sequentially; Non-GAAP EPS of $0.16
BILLERICA, Mass., July 19, 2012 – Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the Company’s second quarter ended June 30, 2012.
The Company recorded second-quarter sales of $188.2 million, an increase of 7 percent sequentially, and a 10 percent decline from the prior year second quarter. Second-quarter operating margin was 16.8 percent, with adjusted operating margin of 18.1 percent, excluding amortization of intangible assets of $2.4 million. Net income for the second quarter was $21.7 million, or $0.16 per share. Non-GAAP earnings per share of $0.16 in the second quarter of 2012 compared to $0.14 in the first quarter of 2012 and $0.24 in the second quarter of 2011. A reconciliation table of GAAP to non-GAAP earnings per share and operating margin is contained in this press release.
For the first half of fiscal 2012, sales were $363.6 million, down 12 percent from the first half of 2011. Non-GAAP earnings per diluted share for the first six months of 2012 were $0.30 per share versus $0.47 per share for the same period a year ago.
Gideon Argov, president and chief executive officer, said: “We performed well in the second quarter, as demand was strong for our advanced contamination control products used to support the ramp of the semiconductor industry’s leading edge technologies. Financially, we grew our adjusted operating margin to 18.1 percent and generated $43 million of cash from operations.
While the near-term is somewhat unclear, we believe the long-term trends are favorable. Our previously announced investments to extend our leadership in contamination control and critical substrate handling position us to support next-generation semiconductor manufacturing technologies such as extreme ultra-violet (EUV) and 450 millimeter (mn) wafers. We are very encouraged by recent industry announcements aimed at accelerating the development of these technologies.”
Read the continuation of Entegris Reports Second Quarter 2012.