Danbury, Connecticut based ATMI said it expects second quarter earnings per share of approximately $0.30, down from $0.33 estimated currently by eight analysts polled by First Call/Thomson Financial. However, the expectation is 15% over $0.26 recorded in the same period last year.
The company expects revenues for the quarter to decline 3% to approximately $89 million from $92.43 million a year ago. Street analysts have a consensus estimate of $98.89 million.
Chief executive officer Doug Neugold said, "The second quarter revenue shortfall reflects a delay in the shipment of some SDS products, reduced sales into the memory sector, and slower-than-anticipated new product adoption."
Further, ATMI also lowered the guidance range for fiscal 2008 earnings per share to $1.25 - $1.40 from $1.32 - $1.48. The updated guidance is less than the Street's consensus of $1.42 per share.
The company now anticipates full year revenues to be between $375 million and $400 million compared to the prior outlook of $400
Separately, ATMI said it entered into an agreement with Praxair, Inc. that settled the litigations between the two companies. The matters under dispute since 2003 included those related to ATMI's VAC technology and Praxair's UpTime technology.
The agreement does not involve any settlement payments and both the parties will be free to market and sell worldwide their mechanical, sub-atmospheric delivery container products that were the subject of the disputes.
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