ATMI Reports Financial Results for the Fourth Quarter of 2013

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| Source: ATMI, Inc.

Revenues Grew 6 Percent Compared With Last Year to $94.8 Million

Income From Continuing Operations Was $0.19 Per Diluted Share

Income Includes Asset Impairment Charge of $0.28 Per Diluted Share and a Gain of $0.03 Per Diluted Share

DANBURY, Conn., Feb. 4, 2014 (GLOBE NEWSWIRE) -- ATMI, Inc. (Nasdaq:ATMI), a global technology company, today reported financial results for the fourth quarter of 2013.

Revenues from continuing operations were $94.8 million during the fourth quarter of 2013, an increase of 6 percent compared with $89.2 million during the same period last year, lifted by strong demand for products in Microelectronics, especially implant, and eVOLV™ license revenues. Income from continuing operations was $6.4 million, or $0.19 per diluted share, and included a pre-tax asset impairment charge of $11.5 million ($0.28 per diluted share), and a pre-tax gain of $1.2 million ($0.03 per diluted share) on the sale of a marketable security. Excluding these one-time items in the quarter, diluted earnings per share from continuing operations were $0.44. Income from continuing operations during the fourth quarter of 2012 was $11.9 million, or $0.36 per diluted share.

"We concluded 2013 on a strong note in regards to operating performance and strategic objectives," said Chief Executive Officer Doug Neugold. "Microelectronics achieved meaningful revenue growth in a challenging demand environment, and we recognized license revenues for eVOLV, our electronic waste recovery technology. On the strategic front, the divestiture of LifeSciences to Pall Corporation allows us to recognize the value of the business while placing it in the hands of a strategic owner with the desire and ability to grow in single-use technology. Finally, with the pending acquisition by Entegris, Inc., the consolidation we have enabled within the semiconductor supply chain will result in an even stronger supplier of performance materials and related consumable technologies to the world's integrated circuit (IC) producers."

Operating expense increased due primarily to the $11.5 million impairment charge related to certain of our High Productivity Development assets. This action was taken to better align the research and development asset base with the select number of manufacturers producing leading node semiconductors.

ATMI will not conduct a conference call with analysts or investors to discuss these quarterly results due to the pending acquisition by Entegris, Inc. The company expects to file its form 10-K with the SEC on or about March 7, 2014.

About ATMI

ATMI, Inc., a global technology company, provides specialty materials, material processing, and safe, high-purity materials handling and delivery solutions designed to increase process efficiencies for the microelectronics and other industries. For more information, please visit http://www.atmi.com.

ATMI, eVOLV, and the ATMI logo are trademarks or registered trademarks of Advanced Technology Materials, Inc., in the United States, other countries, or both.

Forward Looking Statements

Statements contained herein that relate to ATMI's future performance, including, without limitation, statements with respect to ATMI's anticipated results of operations or level of business for 2014 or any other future period, are forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on current expectations only and are subject to certain risks, uncertainties, and assumptions, including, but not limited to, changes in semiconductor industry growth (including, without limitation, wafer starts) or ATMI's markets; competition, problems, or delays developing, commercializing, and delivering new products; customer-driven pricing pressure; potential loss of key customers; problems or delays in integrating acquired operations and businesses; uncertainty in the credit and financial markets; ability to protect ATMI's proprietary technology; and other factors described in ATMI's Form 10-K for the year ended December 31, 2012 and other subsequent filings with the Securities and Exchange Commission. Such risks and uncertainties may cause actual results to differ materially from those expressed in our forward-looking statements. ATMI undertakes no obligation to update any forward-looking statements.

ATMI, INC.
SUMMARY STATEMENTS OF COMPREHENSIVE INCOME
(in thousands, except per share data)
 
  Three Months Ended December
31,
Twelve Months Ended December
31,
  2013 2012 2013 2012
  (Unaudited) (Unaudited) (Unaudited) (Unaudited)
         
Revenues $94,844 $89,180 $360,959 $365,849
Cost of revenues 47,460 44,577 185,013 179,258
Gross profit 47,384 44,603 175,946 186,591
Operating expenses:        
Research and development 21,591 12,552 55,666 47,286
Selling, general and administrative 18,579 17,103 72,884 73,521
Total operating expenses 40,170 29,655 128,550 120,807
Operating income 7,214 14,948 47,396 65,784
Interest income 249 186 $944 $900
Other income (expense), net 730 285 2,616 ($58)
Income before income taxes 8,193 15,419 50,956 66,626
Provision for income taxes 1,805 3,510 12,197 18,331
Income from continuing operations $6,388 $11,909 $38,759 $48,295
         
Income (loss) from discontinued operations, net of tax (2,544) 711 (8,594) (5,965)
Net income $3,844 $12,620 $30,165 $42,330
         
Earnings per diluted share, continuing operations $0.19 $0.36 $1.18 $1.48
Earnings (loss) per diluted share, discontinued operations ($0.08) $0.02 ($0.26) ($0.18)
         
Weighted average shares outstanding - diluted 32,897 32,679 32,751 32,664
         
Comprehensive income $4,961 $21,490 $23,068 $49,909
   
 
ATMI, INC.
SUMMARY BALANCE SHEETS
(in thousands)
 
     December 31, December 31,
  2013 2012
  (Unaudited)  
Assets    
Cash & marketable securities (1) $128,847 $154,106
Accounts receivable, net 58,009 53,684
Inventories, net 76,485 77,012
Other current assets 39,378 24,313
Assets held for sale 120,618 101,051
Total current assets 423,337 410,166
Property, plant, and equipment, net 120,462 111,720
Marketable securities, non-current (1) 2,225 12,073
Other assets 50,196 65,194
Total assets $596,220 $599,153
     
Liabilities and stockholders' equity    
Accounts payable $27,087 $35,847
Other current liabilities 15,511 31,296
Liabilities held for sale $13,108 $12,377
Total current liabilities 55,706 79,520
Non-current liabilities 11,354 12,357
Stockholders' equity 529,160 507,276
Total liabilities & stockholders' equity $596,220 $599,153
 
(1) Total cash and marketable securities from continuing operations equaled $131.1 million and $166.2 million at December 31, 2013 and December 31, 2012, respectively.
Troy Dewar
Vice President, Investor Relations and
Corporate Communications
203.207.9349