Press release
Entegris Reports Results for First Quarter of 2020
First-quarter revenue of $412.3 million, increased 5% from prior year First-quarter GAAP diluted EPS of $0.45, increased 88% First-quarter Non-GAAP diluted
About this update from Entegris, Inc.
[{"type":"text","content":"\n\nFirst-quarter revenue of $412.3 million, increased 5% from prior year\n\n\nFirst-quarter GAAP diluted EPS of $0.45, increased 88%\n\n\nFirst-quarter Non-GAAP diluted EPS of $0.55, increased 10%\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nEntegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company’s first quarter ended March 28, 2020.\n\n\nFirst-quarter sales were $412.3 million, an increase of 5% from the same quarter last year. GAAP first-quarter net income was $61.0 million, or $0.45 per diluted share, which included $16.2 million of amortization of intangible assets and $1.4 million in deal and transaction costs. Non-GAAP net income was $75.6 million and non-GAAP net income per diluted share was $0.55.\n\n\nBertrand Loy, president and chief executive officer, said: “During these unprecedented times, our first priority is to ensure the health and safety of our colleagues and families, while continuing to provide exceptional service to our customers. In light of the significant challenges from Covid-19, I’m pleased with our first quarter results. Despite major supply-chain shutdowns across many industries, our manufacturing operations were only modestly impacted by Covid-19, as a direct result of the extraordinary efforts of our Entegris teams and extended supply chain partners around the world.”\n\n\nMr. Loy added: “While the demand for our products will likely be impacted by the ongoing effects of Covid-19 on the global economy, we remain very optimistic about the long-term prospects of the industry and the criticality of our solutions. Our team has very effectively managed challenging times in the past and will take the necessary steps to align our business to market conditions as they evolve. Entegris is in a strong financial position and has sufficient liquidity to navigate through this environment.”\n\n\nQuarterly Financial Results Summary\n(in thousands, except percentages and per share data)\n\n\n\n\nGAAP Results\n\n\n\nMarch 28, 2020\n\n\n\nMarch 30, 2019\n\n\n\nDecember 31, 2019\n\n\n\n\n\nNet sales\n\n\n\n$412,327\n\n\n\n$391,047\n\n\n\n$426,998\n\n\n\n\n\nOperating income\n\n\n\n$80,744\n\n\n\n$47,491\n\n\n\n$84,085\n\n\n\n\n\nOperating margin\n\n\n\n19.6%\n\n\n\n12.1%\n\n\n\n19.7%\n\n\n\n\n\nNet income\n\n\n\n$61,006\n\n\n\n$32,658\n\n\n\n$57,438\n\n\n\n\n\nDiluted earnings per share (EPS...