Aetrium Incorporated Adjusts Fourth-Quarter Expectations; Fiscal 2000 Results to be Announced in Mid-February.Business Editors ST. PAUL St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn.--(BUSINESS WIRE)--Dec. 21, 2000 Aetrium Incorporated (Nasdaq:ATRM ATRM Aluminum Technology Roadmap ATRM ATO Transmit and Receive Module ) today announced that financial results for the fourth quarter ending Dec. 31, 2000, will be below expectations. The company anticipates that revenue for the fourth quarter will be in a range of $12.4 million to $12.8 million, or approximately flat compared with revenue of $12.8 million in the third quarter ended Sept. 30, 2000. Fourth quarter expectations exclude any adjustments that may result from implementation of Staff Accounting Bulletin Number 101. Aetrium had indicated in its third quarter results press release dated Oct. 25, 2000, that it expected revenue in the fourth quarter to increase approximately 12 percent to 16 percent from the third quarter, and net earnings to increase over the third quarter. Third quarter earnings per share from operations were $0.05. The company now expects to generate approximately breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations operating results for the quarter, exclusive of special charges related to consolidate its San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif., engineering operations into its North St. Paul, Minn., operations. The primary reason for a reduction in net income over the third quarter is lower gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. , which are attributable to a change in product mix compared to the third quarter. "Over the last two-to-three weeks, several customers have requested that we defer shipments initially scheduled for late in the quarter until next quarter," said Joseph C. Levesque, president and chief executive officer. "Additionally, order activity has slowed over this period as well. Even with the slower than expected order activity for the quarter, we still expect to end the year with a backlog that exceeds fourth quarter shipments. Given our objective of managing backlog to meet a 90-day production schedule, our guidance for first quarter revenue at this point would be for flat to modest growth over the fourth quarter. We are experiencing excellent response to our recently introduced Model 5800 test handler A software routine that performs a particular task. It often refers to a routine that "handles" an exception of some kind, such as an error, but it can refer to mainstream processes as well. The term is typically used in operating systems and other system software. targeted for Micro Lead Frame type device packages and the Model 8832 Small Component Integrated Test Handler. We continue to plan for revenue growth in 2001." Aetrium plans to report financial results for the fourth quarter and year ending December 31, 2000 in mid- February 2001. Certain matters in this news release 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. which are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include, but are not limited to, slowing growth in the demand for semiconductor devices, changes in the rates of capital expenditures by semiconductor manufacturers, progress of product development programs, unanticipated costs associated with the integration of acquired operations, and other risk factors set forth in the company's SEC filings, including its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1999. Aetrium, based in North St. Paul, Minn., is a leading supplier of proprietary technologies and equipment that are used by the worldwide semiconductor industry to assemble and test integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. (IC's) and other electronic components. Aetrium's products are used by customers to advance reliability, improve quality, increase product yield or improve the manufacturing process. Aetrium has manufacturing facilities in North St. Paul, Minn., and Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , and an engineering facility in San Diego, Calif. Aetrium's common stock is publicly traded on the Nasdaq market under the symbol ATRM. More information about Aetrium is available on the Internet at www.Aetrium.com. |
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