Armonk, NY--Oct. 22, 1997--Semiconductor Packaging MaterialsCo., Inc. reported record revenue of $19,653,000 and $50,488,000 forits third quarter and nine months ended September 30, 1997, a 65 percent and42 percent increase over the comparable 1996 periods. The revenue increases wereprimarily attributable to the inclusion of revenue from Silicon Materials Serviceand S.T. Electronics, which were acquired by the Company on January 23, 1997and July 30, 1997, respectively, and from internal growth of 32 percent at theCompany's Microelectronic Materials Group.
Earnings per share for the third quarter and nine months endedSeptember 30, 1997 amounted to $0.19 and $0.41, respectively, as compared to$0.21 and $0.57, respectively, in the comparable 1996 periods. The Company'searnings per share has continued to improve each quarter in 1997 increasingfrom $0.08 in the first quarter to $0.14 in the second quarter to $0.19 in thethird quarter. This improvement is primarily due to strong earnings at theCompany's Microelectronic Materials Group. The three and nine month periodsended September 30, 1997, also include per share losses of $0.01 and $0.05, netof taxes, respectively, from the start-up of the Company's silicon waferreclaim facility in Singapore. Although operating income improved in thethird quarter of 1997 over the third quarter of 1996, higher interest expenserelated to indebtedness incurred in the Company's two most recent acquisitionsimpacted 1997 third quarter earnings.
While earnings per share was impacted by higher depreciation andamortization charges in the 1997 periods, cash flow per share (net income plusdepreciation and amortization) in the three and nine month periods endedSeptember 30, 1997 increased to $0.38 and $1.01 per share, respectively, ascompared to $0.33 and $0.93 per share, respectively, in the comparable 1996periods.
Semiconductor Packaging Materials Co.
Andrew A. Lozyniak
Return to Headlines