Entegris' Sales and Earnings Grow in Second Quarter

Non-GAAP EPS of $0.24. Record Sales of $209 million and Adjusted Operating Margin of 20.8 percent. Cash Position Approaching $200 million

PUBLISHED Jul. 21, 2011 | SEMICONDUCTOR

BILLERICA, Mass., July 21, 2011 – Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the Company’s second quarter ended July 2, 2011. 

The Company recorded second-quarter sales of $209.2 million, an increase of 25 percent over the prior year, and 3 percent sequentially. Net income was $32.5 million, or $0.24 per diluted share. These results included amortization of intangible assets of $2.6 million. 

Non-GAAP earnings per share of $0.24 in the second quarter of 2011 compared to non-GAAP earnings per share of $0.16 in the second quarter a year ago and $0.23 per diluted share in the first quarter of 2011.  A reconciliation table of GAAP to non-GAAP earnings per share is contained in this press release. 

For the first half of fiscal 2011, sales were $412.3 million, up 26 percent from the first half of 2010.  Non-GAAP earnings per diluted share for the first six months of 2011 were $0.47 per share versus $0.30 per share for the same period a year ago. 

Gideon Argov, president and chief executive officer, said: “We continue to execute well, achieving a record quarter for sales, profits and cash flow.  Sales of our unit-driven products including wafer shippers and liquid filters grew 6 percent sequentially.  On an operating basis, we achieved an adjusted operating margin of nearly 21 percent of sales, a record high for the company, due in part to improved gross margin.  We also generated record cash from operations of $52 million and ended the second quarter with cash and short-term investments of $191 million.