DANBURY, Conn.--Semiconductor materials and services supplier ATMI Inc. reported a 4% sequential increase in revenues to $41.4 million in the fourth quarter compared to $39.7 million in Q3. ATMI's sales were 52% lower than $86.8 million in Q4 of 2000.
The company's net loss for the fourth quarter was $4.6 million, or $0.15 per share, compared to a net income of $10.6 million, or $0.35 per chare, in the period a year ago.
"During the fourth quarter, our materials business was up 4% sequentially to $22.7 million from $21.8 million in the third quarter," said Dan Sharkey, chief financial officer of ATMI. "Our technologies product line revenue increased 4.5% sequentially to $18.7 million in the fourth quarter from $17.9 million in the third quarter.
"During this difficult year, we have removed nearly $30 million of annualized expenses and enhanced our balance sheet so that we are poised to take full advantage of the nascent industry upturn," added the CFO.
Business activities picked up at the end of the fourth quarter, said Gene Banucci, CEO of the Danbury-based company. "We appear to be on course for a marginally improved first quarter. In large part, this is being driven by an increase in wafer starts in Taiwan and the U.S. that is selectively encouraging." The chief executive officer reiterated the company's outlook for a "slow first half with a more robust pick-up in the second half of 2002."