ATMI (ATMI) Lowers Guidance
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Price: $23.59 +1.90%
Revenue Growth %: +7.0%
Financial Fact:
Other expense, net: 269K
Today's EPS Names:
LBIX, ESEA, ISS, More
Revenue Growth %: +7.0%
Financial Fact:
Other expense, net: 269K
Today's EPS Names:
LBIX, ESEA, ISS, More
Trade ATMI Now!
ATMI, Inc. (Nasdaq: ATMI) said 2008 results are expected to be below the Company's previously disclosed full year guidance for both revenue and diluted earnings per share of $375-$400 million and $1.25-$1.40.
Third quarter revenue is now expected to be in the $85.0-$90.0 million range and diluted earnings per share in the $0.18-$0.23 range. The consensus is $96.7 million and $0.33.
The company said since its last updated its 2008 guidance on July 14, 2008, market conditions have significantly deteriorated. The Company's reduced revenue outlook is the result of a marked slowdown in demand across all of ATMI's semiconductor and flat panel display end markets, a trend that accelerated in the past month. The reductions in wafer starts in the foundry and memory segments are expected to have an adverse effect on the Company's near-term results. Furthermore, the adoption of certain new products introduced during the year has been slower than expected, and is not expected to offset the effect of reduced wafer starts. In management's view, these market conditions are likely to continue until semiconductor manufacturer and consumer product demand recover.
Third quarter revenue is now expected to be in the $85.0-$90.0 million range and diluted earnings per share in the $0.18-$0.23 range. The consensus is $96.7 million and $0.33.
The company said since its last updated its 2008 guidance on July 14, 2008, market conditions have significantly deteriorated. The Company's reduced revenue outlook is the result of a marked slowdown in demand across all of ATMI's semiconductor and flat panel display end markets, a trend that accelerated in the past month. The reductions in wafer starts in the foundry and memory segments are expected to have an adverse effect on the Company's near-term results. Furthermore, the adoption of certain new products introduced during the year has been slower than expected, and is not expected to offset the effect of reduced wafer starts. In management's view, these market conditions are likely to continue until semiconductor manufacturer and consumer product demand recover.
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