Entegris Lifts Q2 Adj. Earnings And Sales Forecast Above Market View - Update

(RTTNews) - Entegris Inc. (ENTG), a provider of yield-enhancing materials and solutions for advanced manufacturing processes, on Thursday lifted its forecast for second-quarter earnings and sales, both above analysts' estimates, mainly on the acquisition of ATMI, Inc.

In pre-market activity, the stock is gaining $0.54 or 4.25 percent, and trading at $13.26.

For the second quarter, the company now expects net loss of approximately $25 million to $30 million, or a loss per share of $0.18 to $0.22, which includes purchase accounting adjustments, transaction-related costs from the ATMI transaction, acquisition integration expenses and other one-time costs.

Excluding items, the company expects adjusted net income to be $24 million to $28 million, and adjusted earnings per share to be $0.17 to $0.20.

The company previously expected second-quarter net income of $13 million to $18 million, or $0.09 to $0.13 per share. On an adjusted basis, the company previously expected earnings per share to range from $0.10 to $0.14.

On average, eight analysts polled by Thomson Reuters expect earnings of $0.13 per share. Analysts' estimates typically exclude special items.

The company now projects second-quarter sales of $235 million to $245 million, which includes two months of results of ATMI, Inc. which Entegris acquired on April 30, 2014. Entegris' previous guidance for sales was $165 million to $175 million, which excluded any results from ATMI.

On a comparable basis excluding ATMI results, the company's updated guidance reflects expected sales of $175 million to $185 million.

In the preceding first quarter, Entegris reported sales of $165.8 million. Analysts project sales of $170.80 million for the quarter.

Entegris is slated to release its second-quarter results on Tuesday, July 29.

The company is holding an investor meeting today in Bedford, Massachusetts.