Entegris Q1 Profit Declines, Sees Q2 Results Below View - Quick Facts

(RTTNews) - Entegris, Inc. (ENTG) reported that its net income for the first quarter declined to $14.31 million or $0.10 per share from $16.40 million or $0.12 per share in the year-ago period. The latest results included amortization of intangible assets of $2.3 million and transaction-related costs associated with the acquisition of ATMI of $1.3 million.

Adjusted earnings per share for the quarter were $0.12, compared to $0.13 per share in the year-ago period. On average, nine analysts polled by Thomson Reuters expected earnings per share of $0.13 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter edged up to $165.80 million from $165.07 million in the year-ago period. Analysts had a consensus revenue estimate of $171.70 million for the quarter.

Looking ahead to the second quarter, Entegris forecasts net income in a range of $13 million to $18 million, earnings per share between $0.09 to $0.13, and sales of $165 million to $175 million, before any impact or transaction-related costs of the anticipated acquisition of ATMI. On an adjusted basis, the company forecasts earnings per share in a range of $0.10 to $0.14.

Street expects the company to earn $0.16 per share for the quarter on revenues of $179.76 million.