ATMI Q4 Earnings Beat Estimates

(RTTNews) - ATMI, Inc, (ATMI), a supplier of materials, and materials packaging and delivery systems for manufacturing of microelectronics devices, Tuesday reported a plunge in earnings from continuing operations for the fourth quarter, despite revenue growth, mainly on account of a pre-tax asset impairment charge. The company also reported adjusted earnings that best analysts' estimates.

For the three months ended December, earnings from continuing operations fell to $6.39 million, or $0.19 per share, from $11.91 million, or $0.36 per share, a year earlier.

Excluding the impairment charge and a gain on a marketable security, the company reported earnings per share from continuing operations of $0.44 for the latest quarter. On average, four analysts polled by Thomson-Reuters estimated the company's earnings to be $0.31 for the quarter. Analysts' estimates typically exclude one-time items.

The company said the impairment charge of $11.5 million was related to certain High Productivity Development assets. ATMI explained that this action was taken to 'better align the research and development asset base with the select number of manufacturers producing leading node semiconductors.'

Revenue for the 3-month period grew to $94.84 million from $89.18 million a year earlier.