BILLERICA, Mass., April 21, 2011 – Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the Company’s first quarter ended April 2, 2011.
The Company recorded first-quarter sales of $203.1 million, an increase of 27 percent over the prior year, and 12 percent sequentially. Net income was $29.2 million, or $0.22 per share. These results included amortization of intangible assets of $2.7 million. Non-GAAP earnings per share of $0.23 in the first quarter of 2011 increased 53 percent from $0.15 in the first quarter a year ago, and were even with $0.23 in the fourth quarter of 2010, which benefited from a more favorable quarterly tax rate. A reconciliation table of GAAP to non-GAAP earnings per share is contained in this press release.
Gideon Argov, president and chief executive officer, said: “We were very pleased with our results for the first quarter, which reflected the success of our growth strategies in our core semiconductor and adjacent markets. The quarter marked our eighth consecutive quarter of growth, as sales for many of our product groups reached record quarterly highs. New fab investment and semiconductor production levels remained high, which contributed to robust sales of our filtration and fluid handling products for advanced semiconductor processes. Sales of coatings and graphite products were also strong. On an operating basis, we achieved an adjusted operating margin approaching 20 percent of sales.”