Boston, MA 06/20/2014 (wallstreetpr) – Entegris, Inc. (NASDAQ:ENTG), a major provider of result oriented critical material providers used in manufacturing processes, updated its earnings and sales growth figures for the second quarter that is going to end on 28th June 2014.
Second Quarter Expectations
The company is expecting the sales of the second quarter in the range of $235 million to $245 million. This includes two months of results of ATMI, Inc which was acquired by Entegris, Inc. (NASDAQ:ENTG) on April 30, 2014.Entegris expects to report $25 million to $30 million of net loss or a loss of $0.18 to $0.22 per share. This includes transaction related expenses, adjustments from purchase accounting, ATMI transactions, costs related to acquisition integration and other one-time costs. As per final purchase accounting adjustments after deducting all these expenses and expected amortization cost, that is aggregate total of $53 million, approximately, non-GAAP net income is assumed to be $24 million to $28 million. The non-GAAP Earning Per Share is expected to be from $0.17 to $0.20 per share.
According to previous estimates by Entegris, Inc. (NASDAQ:ENTG), the second quarter sales were expected between $165 million to $175 million, excluding ATMI results. Similarly, the company reflects sales of $175 million to $185 million after removing ATMI results. It is noteworthy that in first quarters of 2014, Entegris reflected sales of $165.8 million. The company’s previous expectations for the second quarter were net income of $13 million to $18 million, and Earning Per Share in the range of $0.09 to $0.13 per share.
Entegris, Inc. (NASDAQ:ENTG) is anticipating reporting its second quarter results on 29th July 2014.
The company held an investor’s meet yesterday on 19th June 2014, in Bedford, Massachusetts. Meeting Presentations and brief can be refereed on the company’s website.
Results Affects Share Price Positively
Meanwhile, the strong and positive outlook in second quarter sales figures triggered a jump in Entegris, Inc. (NASDAQ:ENTG) stock’s price yesterday on 19th June 2014. There was an increase of 3.22% in the company’s share price at $13.13. The stock looks attractive in future also.
