Entegris Swings To Q1 Profit, But Sales Decline

(RTTNews) - Entegris, Inc. (ENTG), a supplier of materials for the semiconductor and other high-tech industries, Wednesday reported a profit of $42.27 million or $0.30 per share for the first quarter, compared with a loss of $88.17 million or $0.59 per share in the same quarter a year ago. Last year, there had been good will impairment charges of $88.87 million, restructuring costs of $11.24 million, and loss on sale of business of $13.64 million.

Excluding one-time items, the company's earnings were $103.77 million or $0.68 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.62 per share. Analysts' estimates typically exclude special items.

Sales for the quarter declined to $771.03 million from $922.4 million in the previous year. The consensus estimate was for $769.28 million.

Looking forward to the second quarter, Entegris expects earnings per share to be between $0.42 and $0.47. On an adjusted basis, earnings per share is expected in the range of $0.68 to $0.73.

Sales for the second quarter is expected between $790 million and $810 million.

On average, 11 analysts expect the company to report earnings of $0.73 per share on revenue of $813.39 million for the quarter.