ATMI Reduces Financial Guidance for Second Quarter and Full Year 2001; Presenting 5-Year Growth Plan At Investor Conference Wednesday.Business Editors DANBURY, Conn.--(BUSINESS WIRE)--June 5, 2001 ATMI ATMI American Textile Manufacturers Institute ATMI Association for Technology in Music Instruction ATMI Advanced Technology Materials, Inc. ATMI Application-to-Transaction Manager Interface ATMI According to My Information ATMI Atm Interface Unit , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ATMI) today lowered its forecast for revenue and earnings per share for the second quarter ending June 30th and fiscal year 2001, reflecting the continued slowdown in manufacturing activity among its semiconductor customers. "The operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. became more difficult in the second quarter, with demand patterns so far tracking a path similar to the 1984 and 1998 semiconductor downturns," said Gene Banucci, chairman and chief executive officer. "The macro-economic environment, which is characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by lower demand and high inventory levels among our core customers, makes projecting the next few quarters problematic." "Given the lack of visibility but extrapolating from past experience, our best estimate is that ATMI will generate second quarter revenues roughly 20% below the $71.1 million reported a year earlier, and full year revenues in the range of 10% to 15% below fiscal year 2000," he said. "On the same basis, we anticipate earnings per share in the current quarter to be in the range of $0.01 to $0.05. Based on our view of gradually increasing demand in the third and fourth quarters, we anticipate generating earnings growth over second quarter levels. In addition, we are beginning to realize the benefits of our previously announced restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). and other ongoing cost savings initiatives." The Company announced the revised guidance in advance of its 2001 Investor Conference June 6th in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , at which it will highlight both its strategic growth plan through 2005 as well as current and emerging trends in semiconductor manufacturing. A complete webcast of the conference will be available at www.atmi.com ATMI provides specialty materials and services to the worldwide semiconductor industry. 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 2001 or any other future period, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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; 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 as a result of new information, future events or otherwise. http://web.atmi.com |
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