Press release
Entegris Reports Results for Second Quarter of 2020
Second-quarter revenue of $448.4 million, increased 18% from prior year Second-quarter GAAP diluted EPS of $0.50, decreased 45% Second-quarter Non-GAAP
About this update from Entegris, Inc.
[{"type":"text","content":"\n\nSecond-quarter revenue of $448.4 million, increased 18% from prior year\n\n\nSecond-quarter GAAP diluted EPS of $0.50, decreased 45%\n\n\nSecond-quarter Non-GAAP diluted EPS of $0.60, increased 54%\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nEntegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company’s second quarter ended June 27, 2020.\n\n\nSecond-quarter sales were $448.4 million, an increase of 18% from the same quarter last year. GAAP second-quarter net income was $68.0 million, or $0.50 per diluted share, which included $13.2 million of amortization of intangible assets and $2.0 million of severance and restructuring costs. Non-GAAP net income was $81.6 million and non-GAAP earnings per diluted share was $0.60.\n\n\nBertrand Loy, president and chief executive officer, said: “I am very pleased with our second quarter results, especially in light of the operational risks and business uncertainty we faced coming into the quarter related to the pandemic. This stronger than expected performance was particularly driven by accelerated demand of our leading-edge solutions.”\n\n\nMr. Loy added: “While risks related to the ongoing impact of the pandemic still exist, we are optimistic about our prospects for the rest of 2020. We expect to continue to significantly outperform the market, driven by additional product wins in advanced technology nodes. We feel confident that our disciplined execution and strong liquidity will allow us to navigate this period of uncertainty, while continuing to invest in the future.”\n\n\nQuarterly Financial Results Summary\n(in thousands, except percentages and per share data)\n\n\n\n\nGAAP Results\n\n\n\nJune 27, 2020\n\n\n\nJune 29, 2019\n\n\n\nMarch 28, 2020\n\n\n\n\n\nNet sales\n\n\n\n$448,405\n\n\n\n$378,874\n\n\n\n$412,327\n\n\n\n\n\nOperating income\n\n\n\n$94,712\n\n\n\n$54,909\n\n\n\n$80,744\n\n\n\n\n\nOperating margin - as a % of net sales\n\n\n\n21.1\n\n\n\n%\n\n\n\n14.5\n\n\n\n%\n\n\n\n19.6\n\n\n\n%\n\n\n\n\n\nNet income\n\n\n\n$68,036\n\n\n\n$123,997\n\n\n\n$61,006\n\n\n\n\n\nDiluted earnings per common share\n\n\n\n$0.50\n\n\n\n$0.91\n\n\n\n$0.45\n\n\n\n\n\nNon-GAAP Results\n\n\n\n\n\nNon-GAAP adjusted operating income\n\n\n\n$110,835\n\n\n\n$76,793\n\n\n\n$99,638\n\n\n\n\n\nNon-GAAP adjusted operating margin - as a % of net sales\n\n\n\n24.7\n\n\n\n%\n\n\n\n20.3...