![]() Income Statement Continuing Operations – Non-GAAP Q1 Q2 Q3 Q4 Q1 Q2 Sales $156,406 $179,296 $169,880 $167,300 $159,571 $153,508 Gross Margin 75,275 86,644 75,889 69,774 68,949 65,480 GM% 48.1% 48.3% 44.7% 41.7% 43.2% 42.7% Operating Income 25,249 34,506 28,674 23,890 18,517 16,097 % of Sales 16.1% 19.2% 16.9% 14.3% 11.6% 10.5% EPS $0.13 $0.18 $0.16 $0.16 $0.11 $0.11 FY2006 FY2007 • Reflects non-GAAP results for continuing operations, adjusted for merger-related and other restructuring charges, amortization expense, integration expense, and integration-related stock-based compensation as well as a one- time gain from sale of an equity investment in Q2-07. • A reconciliation of GAAP to non-GAAP results is provided in the following pages. In $ thousands, except per share data Exhibit 99.1 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended April 1, 2006
(Unaudited)
(In thousands, except per share data) | As previously reported | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 157,662 | 1,256 | 156,406 | — | 156,406 | ||||||||||
Cost of sales | 84,703 | 1,124 | 83,579 | 2,448 | 81,131 | ||||||||||
Gross profit | 72,959 | 132 | 72,827 | (2,448 | ) | 75,275 | |||||||||
Selling, general and administrative expenses | 52,068 | 371 | 51,697 | 10,713 | 40,984 | ||||||||||
Engineering, research and development expenses | 9,176 | 134 | 9,042 | 9,042 | |||||||||||
Operating profit (loss) | 11,715 | (373 | ) | 12,088 | (13,161 | ) | 25,249 | ||||||||
Interest income, net | 2,023 | — | 2,023 | 2,023 | |||||||||||
Other income (expense), net | 795 | — | 795 | 795 | |||||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 14,533 | (373 | ) | 14,906 | (13,161 | ) | 28,067 | ||||||||
Income tax expense (benefit) | 4,796 | (140 | ) | 4,936 | (4,346 | ) | 9,282 | ||||||||
Equity in net (earnings) loss of affiliates | (36 | ) | — | (36 | ) | (36 | ) | ||||||||
Income (loss) from continuing operations | 9,773 | (233 | ) | 10,006 | (8,815 | ) | 18,821 | ||||||||
Income (loss) from operations of discontinued businesses, net of taxes | 1,580 | 233 | 1,347 | 1,347 | |||||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | — | — | — | |||||||||||
Income (loss) from discontinued operations, net of taxes | 1,580 | 233 | 1,347 | — | 1,347 | ||||||||||
Net income (loss) | 11,353 | — | 11,353 | (8,815 | ) | 20,168 | |||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.07 | (0.00 | ) | 0.07 | (0.06 | ) | 0.14 | ||||||||
Discontinued operations | 0.01 | 0.00 | 0.01 | — | 0.01 | ||||||||||
Net income (loss) | 0.08 | — | 0.08 | (0.06 | ) | 0.15 | |||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.07 | (0.00 | ) | 0.07 | (0.06 | ) | 0.13 | ||||||||
Discontinued operations | 0.01 | 0.00 | 0.01 | — | 0.01 | ||||||||||
Net income (loss) | 0.08 | — | 0.08 | (0.06 | ) | 0.14 | |||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 136,889 | 136,889 | 136,889 | 136,889 | 136,889 | ||||||||||
Diluted | 140,402 | 140,402 | 140,402 | 140,402 | 140,402 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended July 1, 2006
(Unaudited)
(In thousands, except per share data) | As previously reported | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 180,701 | 1,405 | 179,296 | — | 179,296 | ||||||||||
Cost of sales | 93,594 | 1,279 | 92,315 | (337 | ) | 92,652 | |||||||||
Gross profit | 87,107 | 126 | 86,981 | 337 | 86,644 | ||||||||||
Selling, general and administrative expenses | 51,977 | 424 | 51,553 | 9,392 | 42,161 | ||||||||||
Engineering, research and development expenses | 10,219 | 242 | 9,977 | 9,977 | |||||||||||
Operating profit (loss) | 24,911 | (540 | ) | 25,451 | (9,055 | ) | 34,506 | ||||||||
Interest income, net | 1,897 | — | 1,897 | 1,897 | |||||||||||
Other income (expense), net | 799 | — | 799 | 799 | |||||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 27,607 | (540 | ) | 28,147 | (9,055 | ) | 37,202 | ||||||||
Income tax expense (benefit) | 9,321 | (203 | ) | 9,524 | (3,100 | ) | 12,624 | ||||||||
Equity in net (earnings) loss of affiliates | (159 | ) | — | (159 | ) | (159 | ) | ||||||||
Income (loss) from continuing operations | 18,445 | (337 | ) | 18,782 | (5,955 | ) | 24,737 | ||||||||
Income (loss) from operations of discontinued businesses, net of taxes | (252 | ) | 337 | (589 | ) | (589 | ) | ||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | — | — | — | |||||||||||
Income (loss) from discontinued operations, net of taxes | (252 | ) | 337 | (589 | ) | — | (589 | ) | |||||||
Net income (loss) | 18,193 | — | 18,193 | (5,955 | ) | 24,148 | |||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.13 | (0.00 | ) | 0.14 | (0.04 | ) | 0.18 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.13 | — | 0.13 | (0.04 | ) | 0.18 | |||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.13 | (0.00 | ) | 0.13 | (0.04 | ) | 0.18 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.13 | — | 0.13 | (0.04 | ) | 0.17 | |||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 137,445 | 137,445 | 137,445 | 137,445 | 137,445 | ||||||||||
Diluted | 140,621 | 140,621 | 140,621 | 140,621 | 140,621 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended September 30, 2006
(Unaudited)
(In thousands, except per share data) | As previously reported | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 171,262 | 1,382 | 169,880 | — | 169,880 | ||||||||||
Cost of sales | 95,000 | 958 | 94,042 | 51 | 93,991 | ||||||||||
Gross profit | 76,262 | 424 | 75,838 | (51 | ) | 75,889 | |||||||||
Selling, general and administrative expenses | 43,672 | 388 | 43,284 | 5,720 | 37,564 | ||||||||||
Engineering, research and development expenses | 9,840 | 189 | 9,651 | 9,651 | |||||||||||
Operating profit (loss) | 22,750 | (153 | ) | 22,903 | (5,771 | ) | 28,674 | ||||||||
Interest income, net | 2,846 | — | 2,846 | 2,846 | |||||||||||
Other income (expense), net | 702 | — | 702 | 702 | |||||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 26,298 | (153 | ) | 26,451 | (5,771 | ) | 32,222 | ||||||||
Income tax expense (benefit) | 8,468 | (58 | ) | 8,526 | (1,794 | ) | 10,320 | ||||||||
Equity in net (earnings) loss of affiliates | (93 | ) | — | (93 | ) | (93 | ) | ||||||||
Income (loss) from continuing operations | 17,923 | (95 | ) | 18,018 | (3,977 | ) | 21,995 | ||||||||
Income (loss) from operations of discontinued businesses, net of taxes | (102 | ) | 95 | (197 | ) | (197 | ) | ||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | — | — | — | |||||||||||
Income (loss) from discontinued operations, net of taxes | (102 | ) | 95 | (197 | ) | — | (197 | ) | |||||||
Net income (loss) | 17,821 | — | 17,821 | (3,977 | ) | 21,798 | |||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.13 | (0.00 | ) | 0.13 | (0.03 | ) | 0.16 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.13 | — | 0.13 | (0.03 | ) | 0.16 | |||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.13 | (0.00 | ) | 0.13 | (0.03 | ) | 0.16 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.13 | — | 0.13 | (0.03 | ) | 0.16 | |||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 135,538 | 135,538 | 135,538 | 135,538 | 135,538 | ||||||||||
Diluted | 138,921 | 138,921 | 138,921 | 138,921 | 138,921 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended December 31, 2006
(Unaudited)
(In thousands, except per share data) | As previously reported | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 169,081 | 1,781 | 167,300 | — | 167,300 | ||||||||||
Cost of sales | 99,260 | 1,392 | 97,868 | 342 | 97,526 | ||||||||||
Gross profit | 69,821 | 389 | 69,432 | (342 | ) | 69,774 | |||||||||
Selling, general and administrative expenses | 42,055 | 278 | 41,777 | 5,297 | 36,480 | ||||||||||
Engineering, research and development expenses | 9,595 | 191 | 9,404 | 9,404 | |||||||||||
Operating profit (loss) | 18,171 | (80 | ) | 18,251 | (5,639 | ) | 23,890 | ||||||||
Interest income, net | 2,439 | — | 2,439 | 2,439 | |||||||||||
Other income (expense), net | (638 | ) | — | (638 | ) | (638 | ) | ||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 19,972 | (80 | ) | 20,052 | (5,639 | ) | 25,691 | ||||||||
Income tax expense (benefit) | 3,920 | �� | (30 | ) | 3,950 | (851 | ) | 4,801 | |||||||
Equity in net (earnings) loss of affiliates | (243 | ) | — | (243 | ) | (243 | ) | ||||||||
Income (loss) from continuing operations | 16,295 | (50 | ) | 16,345 | (4,788 | ) | 21,133 | ||||||||
Income (loss) from operations of discontinued businesses, net of taxes | (196 | ) | 50 | (246 | ) | (246 | ) | ||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | — | — | — | |||||||||||
Income (loss) from discontinued operations, net of taxes | (196 | ) | 50 | (246 | ) | — | (246 | ) | |||||||
Net income (loss) | 16,099 | — | 16,099 | (4,788 | ) | 20,887 | |||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.12 | (0.00 | ) | 0.13 | (0.04 | ) | 0.16 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.12 | — | 0.12 | (0.04 | ) | 0.16 | |||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.12 | (0.00 | ) | 0.12 | (0.04 | ) | 0.16 | ||||||||
Discontinued operations | (0.00 | ) | 0.00 | (0.00 | ) | — | (0.00 | ) | |||||||
Net income (loss) | 0.12 | — | 0.12 | (0.04 | ) | 0.16 | |||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 130,594 | 130,594 | 130,594 | 130,594 | 130,594 | ||||||||||
Diluted | 134,024 | 134,024 | 134,024 | 134,024 | 134,024 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended March 31, 2007
(Unaudited)
(In thousands, except per share data) | As previously reported | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 161,076 | 1,505 | 159,571 | — | 159,571 | ||||||||||
Cost of sales | 92,277 | 1,213 | 91,064 | 442 | 90,622 | ||||||||||
Gross profit | 68,799 | 292 | 68,507 | (442 | ) | 68,949 | |||||||||
Selling, general and administrative expenses | 46,194 | 250 | 45,944 | 6,046 | 39,898 | ||||||||||
Engineering, research and development expenses | 10,754 | 220 | 10,534 | 10,534 | |||||||||||
Operating profit (loss) | 11,851 | (178 | ) | 12,029 | (6,488 | ) | 18,517 | ||||||||
Interest income, net | 2,818 | — | 2,818 | 2,818 | |||||||||||
Other income (expense), net | (25 | ) | — | (25 | ) | (25 | ) | ||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 14,644 | (178 | ) | 14,822 | (6,488 | ) | 21,310 | ||||||||
Income tax expense (benefit) | 4,286 | (57 | ) | 4,343 | (2,076 | ) | 6,419 | ||||||||
Equity in net (earnings) loss of affiliates | (25 | ) | — | (25 | ) | (25 | ) | ||||||||
Income (loss) from continuing operations | 10,383 | (121 | ) | 10,504 | (4,412 | ) | 14,916 | ||||||||
Income (loss) from operations of discontinued businesses, net of taxes | — | 121 | (121 | ) | (121 | ) | |||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | — | — | — | |||||||||||
Income (loss) from discontinued operations, net of taxes | — | 121 | (121 | ) | — | (121 | ) | ||||||||
Net income (loss) | 10,383 | — | 10,383 | (4,412 | ) | 14,795 | |||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.08 | (0.00 | ) | 0.08 | (0.03 | ) | 0.11 | ||||||||
Discontinued operations | — | 0.00 | (0.00 | ) | — | (0.00 | ) | ||||||||
Net income (loss) | 0.08 | — | 0.08 | (0.03 | ) | 0.11 | |||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.08 | (0.00 | ) | 0.08 | (0.03 | ) | 0.11 | ||||||||
Discontinued operations | — | 0.00 | (0.00 | ) | — | (0.00 | ) | ||||||||
Net income (loss) | 0.08 | — | 0.08 | (0.03 | ) | 0.11 | |||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 132,194 | 132,194 | 132,194 | 132,194 | 132,194 | ||||||||||
Diluted | 135,233 | 135,233 | 135,233 | 135,233 | 135,233 |
Entegris, Inc.
GAAP to Non-GAAP Reconciliation of
Statement of Operations
For the Three Months Ended June 30, 2007
(Unaudited)
(In thousands, except per share data) | U.S. GAAP Before Reflecting Cleaning Equipment as Discontinued Operations | Reclass Cleaning Equipment as Discontinued Operations | U.S. GAAP as reported | Less Adjustments to GAAP | Non-GAAP | ||||||||||
Net sales | 155,533 | 2,025 | 153,508 | — | 153,508 | ||||||||||
Cost of sales | 89,551 | 1,537 | 88,014 | (15 | ) | 88,029 | |||||||||
Gross profit | 65,982 | 488 | 65,494 | 15 | 65,479 | ||||||||||
Selling, general and administrative expenses | 46,982 | 2,665 | 44,317 | 4,614 | 39,703 | ||||||||||
Engineering, research and development expenses | 9,932 | 253 | 9,679 | 9,679 | |||||||||||
Operating profit (loss) | 9,068 | (2,430 | ) | 11,498 | (4,599 | ) | 16,097 | ||||||||
Interest income, net | 2,559 | — | 2,559 | 2,559 | |||||||||||
Other income (expense), net | 6,074 | — | 6,074 | 6,068 | 6 | ||||||||||
Income (loss) before income taxes and equity in (earnings) loss of affiliates | 17,701 | (2,430 | ) | 20,131 | 1,469 | 18,662 | |||||||||
Income tax expense (benefit) | 3,004 | (1,457 | ) | 4,461 | 810 | 3,651 | |||||||||
Equity in net (earnings) loss of affiliates | (80 | ) | — | (80 | ) | (80 | ) | ||||||||
Income (loss) from continuing operations | 14,777 | (973 | ) | 15,750 | 659 | 15,091 | |||||||||
Income (loss) from operations of discontinued businesses, net of taxes | — | 4 | (4 | ) | (4 | ) | |||||||||
Impairment loss on assets of discontinued businesses, net of taxes | — | 969 | (969 | ) | (969 | ) | |||||||||
Income (loss) from discontinued operations, net of taxes | — | 973 | (973 | ) | — | (973 | ) | ||||||||
Net income (loss) | 14,777 | — | 14,777 | 659 | 14,118 | ||||||||||
Basic earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.11 | (0.01 | ) | 0.12 | 0.01 | 0.12 | |||||||||
Discontinued operations | — | 0.01 | (0.01 | ) | — | (0.01 | ) | ||||||||
Net income (loss) | 0.11 | — | 0.11 | 0.01 | 0.11 | ||||||||||
Diluted earnings (loss) per common share: | |||||||||||||||
Continuing operations | 0.11 | (0.01 | ) | 0.12 | 0.00 | 0.11 | |||||||||
Discontinued operations | — | 0.01 | (0.01 | ) | — | (0.01 | ) | ||||||||
Net income (loss) | 0.11 | — | 0.11 | 0.00 | 0.11 | ||||||||||
Weighted shares outstanding | |||||||||||||||
Basic | 129,225 | 129,225 | 129,225 | 129,225 | 129,225 | ||||||||||
Diluted | 132,293 | 132,293 | 132,293 | 132,293 | 132,293 |