Press release
Entegris Reports Results for Third Quarter Of 2022
Third-quarter revenue (as reported) of $994 million, increased 71% from prior year Third-quarter revenue (proforma), increased 14% Third-quarter GAAP diluted
About this update from Entegris, Inc.
[{"type":"text","content":"\n\nThird-quarter revenue (as reported) of $994 million, increased 71% from prior year\n\n\nThird-quarter revenue (proforma), increased 14%\n\n\nThird-quarter GAAP diluted EPS of ($0.50)\n\n\nThird-quarter non-GAAP diluted EPS of $0.85\n\n\n BILLERICA, Mass.--(BUSINESS WIRE)--\nEntegris, Inc. (NASDAQ: ENTG), today reported its financial results for the Company’s third quarter ended October 1, 2022. Third-quarter sales were $993.8 million, an increase of 71% from the same quarter last year. Third-quarter GAAP net loss was $73.7 million, or $0.50 loss per diluted share, which included $65.3 million of amortization of intangible assets, $20.8 million of integration costs, $31.9 million of deal and transaction costs, $58.4 million contractual and non-cash integration costs and $2.4 million interest expense, net. Non-GAAP net income was $127.8 million for the third quarter and non-GAAP earnings per diluted share was $0.85. All the results presented herein are shown on a “as reported” basis and not on a “proforma” basis, and as a result do not include CMC Materials’ results in prior periods.\n\nBertrand Loy, Entegris’ president and chief executive officer, said: “Our execution was solid in the third quarter, and we are pleased with our proforma 18 percent year-to-date top line growth, especially in light of the growing economic uncertainty and unfavorable impact of foreign currencies. During the quarter, we continued to benefit from strong demand for our advanced solutions, which are of growing importance to our customers’ leading-edge technology roadmaps and new facility investments.”\n\nMr. Loy added: “We are also pleased with our steady progress on the CMC Materials integration. As a part of our assessment of the various parts of the CMC portfolio, we recently announced that we entered into a definitive agreement for Infineum to acquire the Pipeline and Industrial Materials business. Going forward, our focus will be on driving revenue and cost synergies, and continuing to pay down the debt.”\n\nMr. Loy added: “For the full year 2022, despite softening in the semiconductor market and the impact of the new U.S. government export restrictions, we expect to achieve strong growth, well in excess of the market. Looking ahead, our differentiated unit-driven model and experienced team will be key as we navigate the uncertain environment.”\...