-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PLIjMI2nJymjFEMroRwsMr+2YXIyXznNEvuVN7SiF2990R7uOZnYckoEkzpYXqow 55ZHGDAuVS21jBqRJp9rcw== 0000922423-04-000577.txt : 20040423 0000922423-04-000577.hdr.sgml : 20040423 20040423163753 ACCESSION NUMBER: 0000922423-04-000577 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040421 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATMI INC CENTRAL INDEX KEY: 0001041577 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL INORGANIC CHEMICALS [2810] IRS NUMBER: 061481060 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16239 FILM NUMBER: 04751504 BUSINESS ADDRESS: STREET 1: 7 COMMERCE DRIVE CITY: DANBURY STATE: CT ZIP: 06810-4169 BUSINESS PHONE: 2037941100 MAIL ADDRESS: STREET 1: 7 COMMERCE DRVIE CITY: DANBURY STATE: CT ZIP: 06810-4169 FORMER COMPANY: FORMER CONFORMED NAME: ATMI HOLDINGS INC DATE OF NAME CHANGE: 19970625 8-K 1 kl04053_8k.txt FORM 8-K CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 21, 2004 ----------- ATMI, INC. (Exact name of registrant as specified in its charter) Delaware 1-16239 06-1481060 (State or other jurisdiction of (Commission file number) (I.R.S. employer incorporation or organization) identification no.) 7 Commerce Drive Danbury, Connecticut 06810 (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code: (203) 794-1100 ATMI, INC. FORM 8-K CURRENT REPORT TABLE OF CONTENTS Page ---- Item 7. Exhibits.........................................................3 Item 12. Results of Operations and Financial Condition....................3 Signature....................................................................4 2 Item 7. Exhibits. Exhibit No. Description - ----------- ----------- 99.1 Press Release, dated April 21, 2004, entitled "ATMI Reports First Quarter Financial Results." Item 12. Results of Operations and Financial Condition. On April 21, 2004, the Registrant issued a press release announcing its financial results for the first quarter of 2004. A copy of the press release is furnished as Exhibit 99.1 to this current report and is incorporated herein by reference. 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, ATMI, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 23, 2004 ATMI, INC. By: /s/ Dan Sharkey ---------------------------------- Name: Dan Sharkey Title: Vice President and Chief Financial Officer 4 EX-99 3 kl04053_ex99-1.txt EXHIBIT 99.1 PRESS RELEASE Exhibit 99.1 For Immediate Release - --------------------- ATMI Reports First Quarter Financial Results DANBURY, CT -- April 21, 2004 -- ATMI, Inc. (Nasdaq: ATMI), a supplier of materials and materials packaging to the world's leading semiconductor manufacturers, today announced revenues of $56.0 million for the first quarter of 2004, an increase of 51% from $37.0 million in the first quarter of 2003, and an increase of 7% over $52.4 million in the fourth quarter of 2003. Continuing operations in the first quarter generated income of $4.0 million, or $0.12 per diluted share. In the first quarter of last year, income from continuing operations was $0.9 million, or $0.03 per diluted share. In the fourth quarter of 2003, continuing operations generated income of $5.6 million, or $0.18 per diluted share, which included a one-time $0.10 per share tax benefit and a $0.03 per share charge for an investment write-down. Overall, net income for the first quarter was $6.1 million, or $0.19 per diluted share, which includes $0.04 per share from activities of discontinued operations, and a gain of $0.03 per share related to the sale of the gallium nitride business. For the first quarter of 2003, net loss was $1.6 million, or $0.05 per diluted share, which included a loss of $0.08 per share from discontinued operations. Net income for the fourth quarter of 2003 was $5.2 million, or $0.17 per diluted share, which included a $0.01 per share loss from discontinued operations and the one-time tax benefit of $0.10 per share, partially offset by the $0.03 per share investment write-down. Gene Banucci, ATMI Chief Executive Officer, said, "The semiconductor industry continued to grow strongly during the first quarter. We believe overall worldwide wafer starts were up, on the order of 3-4% sequentially, with growth rates in Taiwan exceeding 7%. We expect continued industry growth in the second quarter, and believe that growth in wafer starts for the year will come in slightly above our previous range of 9-11%." Doug Neugold, ATMI Chief Operating Officer, said, "The first quarter showed broad-based strength. SDS(R) sub-atmospheric gas storage and delivery and materials packaging product sales were strong. Overall gross margin didn't reach the levels we wanted during the quarter because of additional costs to expedite product deliveries to Taiwan on stronger than expected demand, combined with costs related to scaling manufacturing on certain new products. We anticipate improving gross margin levels in the second half. In the copper materials market, our ST-250 post-etch stripping product appears to be gaining traction worldwide. So much so, we are already preparing capacity expansions for this, and related, product lines." Dan Sharkey, Chief Financial Officer said, "During the quarter, we completed the first divestiture of our businesses held for sale, with the sale of our Gallium Nitride business to Cree for $10.25 million in cash. With buyer interest in the remaining businesses quite high, negotiations on a number of the other discontinued businesses are well underway." ATMI provides specialty materials and materials packaging to the worldwide semiconductor industry. For more information, please visit atmi.com. 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 2004 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 or ATMI's markets; competition, problems, or delays developing and commercializing new products; problems or delays in integrating acquired operations and businesses into ATMI; problems or delays associated with any restructuring activity, or implementing any strategy, including resolution of the 99-1 various discontinued elements of ATMI's Technologies segment; and other factors discussed in ATMI's filings with the Securities and Exchange Commission. Such risks and uncertainties could cause actual results to differ from those projected. ATMI undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Note: A conference call (800.289.0544) discussing financial results will begin at 11:00 a.m. Eastern time, April 21st, 2004. A replay (888.203.1112, PIN 12085) of the call will be available for 48 hours. An audio webcast of the conference call will be available for 30 days on atmi.com. # # # # TABLES FOLLOW For more information contact: Dean Hamilton ATMI 203.207.9349 Direct 203.794.1100 x4202 dhamilton@atmi.com ------------------ 99-2 ATMI, INC. SUMMARY STATEMENTS OF OPERATION (in thousands, except per share data) Three Months Ended March 31, ------------------ 2004 2003 ---- ---- Revenues $ 56,019 $ 37,039 Cost of revenues 28,792 18,894 -------- -------- Gross profit 27,227 18,145 Operating expenses R & D 4,741 4,203 S, G, & A 15,684 12,627 -------- -------- 20,425 16,830 Operating income 6,802 1,315 Other expense, net (697) (19) -------- -------- Income before income taxes 6,105 1,296 Income taxes (2,137) (372) -------- -------- Income from continuing operations 3,968 924 Income (loss) from operations of discontinued operations 1,120 (2,542) Gain on disposal of discontinued operations 1,024 -- -------- -------- Net income (loss) $ 6,112 ($ 1,618) ======== ======== Diluted earnings per share from continuing operations $ 0.12 $ 0.03 Diluted earnings (loss) per share from operations of discontinued operations $ 0.04 ($ 0.08) Diluted earnings per share from gain on disposal of discontinued operations $ 0.03 -- Diluted earnings (loss) per share $ 0.19 ($ 0.05) Weighted average shares outstanding 31,739 30,913 99-3 ATMI, INC. SUMMARY BALANCE SHEETS (in thousands) March 31, December 31, Balance Sheet Highlights 2004 31, 2003 -------- ----------- Assets Cash & marketable securities $137,730 $128,700 Accounts receivable, net 48,945 38,439 Inventory, net 30,637 21,564 Assets held for sale 71,980 84,736 Other current assets 17,422 16,280 -------- -------- Total current assets 306,714 289,719 Fixed assets, net 65,903 64,673 Other assets 59,059 60,050 -------- -------- Total assets $431,676 $414,442 -------- -------- Liabilities and stockholders' equity Accounts payable $ 13,013 $ 11,743 Short-term debt 947 1,047 Liabilities held for sale 8,695 7,196 Other current liabilities 29,566 24,799 -------- -------- Total current liabilities 52,221 44,785 Long-term debt 115,203 115,290 Other long-term liabilities 105 116 Stockholders' equity 264,147 254,251 -------- -------- Total liabilities & stockholders' equity $431,676 $414,442 -------- -------- 99-4 -----END PRIVACY-ENHANCED MESSAGE-----