Aetrium More Than Doubles Profits on 31% Increase in Revenue and Record Bookings.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. -- Aetrium Incorporated (Nasdaq:ATRM ATRM Aluminum Technology Roadmap ATRM ATO Transmit and Receive Module ) today announced results for its third quarter ended September 30, 2007. Aetrium's revenue increased to $7,704,000, up 31% sequentially from revenue of $5,866,000 in the second quarter of this year. Net income for the quarter was $1,388,000, or $0.13 per diluted share, up 127% from $612,000, or $0.06 per diluted share, in the prior quarter. "We made great progress in our third quarter in our efforts to increase our market share and expand our customer base," Joseph C. Levesque, president and chief executive officer, commented. "Along with our strong growth in revenue and profitability, we also had our biggest bookings quarter in over seven years. Most of our orders were booked later in the quarter, and our ending backlog was the largest it has been for over six years. Both our revenue and our bookings were dominated by our 55V series of test handlers for the expanding applications of the new leadless integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for (IC) packages that continue to gain increasing traction." "Looking forward, analysts project solid IC growth through 2008, particularly in the analog segment where our customers are most concentrated," Mr. Levesque added. "Our fourth quarter revenue will depend on the delivery requirements The stipulation that requires that an item of materiel must be delivered in the total quantity required by the date required. of orders received this quarter, but given our backlog and the expected continuation of favorable industry conditions, we anticipate another substantial sequential increase in revenue this quarter. Looking toward 2008, we continue to have confidence in the competitiveness of our product offerings, the growing acceptance of our new products by our expanding customer base, and the long term prospects for both the IC industry and Aetrium." 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, adverse domestic or global economic conditions, slowing growth in the demand for semiconductor devices, the volatility and cyclicality of the microelectronics industry, changes in the rates of capital expenditures by semiconductor manufacturers, progress of product development programs, unanticipated costs associated with the integration or restructuring of 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 December 31, 2006. Aetrium, based in North St. Paul, Minnesota North St. Paul is a city in Ramsey County, Minnesota, east of the city of Saint Paul, Minnesota. The population was 11,929 at the 2000 census. In 1870, Henry A. Castle founded Castle Site along the shore of Silver Lake extending to the south and west. , is a leading supplier of proprietary technologies and equipment that are used by the worldwide semiconductor industry to test ICs. The company's products are used by customers to advance reliability, improve quality, increase product yield or improve manufacturing processes. 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. [TABLE OMITTED] (1) For the three months ended September 30, 2006, the sum of continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the and discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. does not equal the total due to rounding. [TABLE OMITTED] |
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