Aetrium Reports Profitable First Quarter.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 first quarter ended March 31, 2007. Income from 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 for the quarter was $544,000, or $0.05 per diluted share, on revenue of $5,105,000. This compares to income from continuing operations of $955,000, or $0.09 per diluted share, on revenue of $6,899,000 in the first quarter of 2006, and income from continuing operations of $751,000, or $0.07 per diluted share, on revenue of $5,073,000 in the fourth quarter of last year. "Quote and order activity increased over last quarter particularly toward the end of the quarter, and this allowed us to maintain revenue at last quarter's level and also build backlog," Joseph C. Levesque, president and chief executive officer, commented. "Our continuing operations were profitable for the sixth consecutive quarter, our gross profit margin 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. of 52.7% exceeded our targeted range, and we improved our cash position by about $250,000. We successfully qualified our 55V16 gravity feed handler for additional applications at one of our largest customers, and we continue to attract interest in our 55V Series handlers handlers persons involved in the handling of, for example, circus animals. Includes grooms, milkers, herdsmen, strappers. Used mostly in referring to persons handling animals for show or auction. from a growing potential customer list." "Looking forward, however, our visibility remains clouded," Mr. Levesque added. "For the first two months of 2007, semiconductor revenues trended significantly downward, and it was recently reported that inventory levels improved only marginally during the quarter. These conditions lead us to expect that equipment requirements in the second quarter will continue to be moderate and targeted primarily at new package types. The current unsettled industry conditions are not impacting our customer base uniformly, with new capacity requirements varying considerably among our customers, and we expect these conditions to continue in the second quarter. As a result, our insight into our second quarter is limited, and revenue is difficult to predict at this time, but we believe it is likely to be similar to our first quarter." 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 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. . 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] [TABLE OMITTED] |
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