Entegris (ENTG) 8-K Entegris Reports Sales of $148 million and EPS of $0.04

Exhibit 99.1

Entegris Reports Sales of $148 million and EPS of $0.04

for Second Quarter of Fiscal 2008

The Company to Restate First-Quarter Gross Margin and EPS Upward

CHASKA (Minneapolis), Minn., July 29, 2008 –Entegris, Inc. (Nasdaq: ENTG) today reported its financial results for the fiscal second quarter ended June 28, 2008. Second-quarter sales were $147.9 million, versus $153.5 million for the same period a year ago and $148.2 million for the first quarter of fiscal 2008.

Second-quarter net income was $4.9 million, or $0.04 per diluted share, which included amortization expense of $4.6 million, or $0.04 per diluted share. These results compared to net income of $14.8 million, or $0.11 per diluted share, for the second quarter a year ago and to restated net income of $2.9 million, or $0.02 per diluted share reported for the first quarter of 2008.

Sales for the six months ended June 28, 2008 were $296.2 million. First-half net income was $7.8 million, or $0.07 per diluted share, on a restated basis. Amortization expense for the first half of 2008 was $9.6 million, or $0.08 per diluted share.

Gideon Argov, president and chief executive officer, said: “Despite a challenging industry environment, we held second-quarter sales even with the first quarter while achieving improvements in our operating results and generating $31 million of cash from operations. Second-quarter sales to semiconductor-related customers reflected higher sales to chip makers which offset lower OEM spending on capital-driven products such as photochemical pumps and fluid handling components.”

Argov continued: “Looking forward, we remain focused on reducing our costs, achieving traction with our new products, and furthering our materials science strategy to build a diversified materials-based business as demonstrated by our recent agreement to acquire Poco Graphite.”

Outlook

For its fiscal third quarter ending September 27, 2008, the Company currently expects sales to be $140 million to $146 million. Net income per diluted share is expected to range from $0.03 to $0.05. The Company expects third-quarter amortization expense to be $4.3 million, or $0.04 per diluted share.

First Quarter Restatement

Entegris announced that it will file a Form 10-Q/A with the Securities and Exchange Commission to restate its financial results for the first quarter of fiscal year 2008, which ended March 29, 2008. The restatement, which does not affect revenue or cash flows, is expected to result in an upward correction to gross margin of approximately $2.5 million and an upward correction to net income of $1.7 million. The Company expects to file its restated financial statements concurrent with its filing of the Form 10-Q for the second quarter of fiscal 2008 on or about August 7, 2008.

Second-Quarter Results Conference Call Details

Entegris will hold a conference call to discuss its results for the second quarter on Tuesday, July 29, 2008, at 10:00 a.m. Eastern Time. Participants should dial 1-888-219-1420 (for domestic callers) or 1-913-312-1420 (for callers outside the U.S.). A replay of the call can be accessed at 1-719-457-0820 using passcode 8327674. A webcast of the call can also be accessed from the investor relations section of Entegris’ website at www.entegris.com.

ABOUT ENTEGRIS

Entegris is a leading provider of a wide range of products for purifying, protecting and transporting critical materials used in processing and manufacturing in the semiconductor and other high-tech industries. Entegris is ISO 9001 certified and has manufacturing, customer service and/or research facilities in the United States, China, France, Germany, India, Israel, Japan, Malaysia, Singapore, South Korea and Taiwan. Additional information can be found at www.entegris.com.

Forward-Looking Statements

Certain information contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current management expectations only as of the date of this press release, and involve substantial risks and uncertainties that could cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements. Statements that include such words as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “may,” “will,” “should” or the negative thereof and similar expressions as they relate to Entegris or our management are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These risks include, but are not limited to, fluctuations in the market price of Entegris’ stock, Entegris’ future operating results, other acquisition and investment opportunities available to Entegris, general business and market conditions and other factors. Additional information concerning these and other risk factors may be found in previous financial press releases issued by Entegris and Entegris’ periodic public filings with the Securities and Exchange Commission, including discussions appearing under the headings “Risks Relating to our Business and Industry,” “Manufacturing Risks,” “International Risks,” and “Risks Related to Securities Markets and Ownership of Our Securities” in Item 1A of our Annual Report on Form 10–K for the fiscal year ended December 31, 2007, as well as other matters and important factors disclosed previously and from time to time in the filings of Entegris with the U.S. Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update publicly any forward-looking statements contained herein.

Entegris, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

	Three months ended									Six months ended
	June 28, 2008			March 29, 2008 Restated			June 30, 2007			June 28, 2008			June 30, 2007
Net sales	$	147,947		$	148,227		$	153,508		$	296,174		$	313,079
Cost of sales		88,060			84,239			88,014			172,299			179,078
Gross profit		59,887			63,988			65,494			123,875			134,001
Selling, general and administrative expenses		37,105			43,322			39,830			80,427			81,274
Engineering, research and development expenses		10,362			10,501			9,679			20,863			20,213
Amortization of intangible assets		4,552			5,087			4,487			9,639			8,986
Operating income		7,868			5,078			11,498			12,946			23,528
Interest expense (income), net		81			(13	)		(2,559	)		68			(5,376	)
Other expense (income), net		249			627			(6,074	)		876			(6,050	)
Income before income taxes		7,538			4,464			20,131			12,002			34,954
Income tax expense		2,021			1,394			4,461			3,415			8,814
Equity in net earnings of affiliates		(8	)		(138	)		(80	)		(146	)		(104	)
Income from continuing operations		5,525			3,208			15,750			8,733			26,244
Loss from discontinued operations, net of taxes		(592	)		(343	)		(973	)		(935	)		(1,084	)
Net income	$	4,933		$	2,865		$	14,777		$	7,798		$	25,160
Basic income (loss) per common share:
Continuing operations:	$	0.05		$	0.03		$	0.12		$	0.08		$	0.20
Discontinued operations	$	(0.01	)	$	0.00		$	(0.01	)	$	(0.01	)	$	(0.01	)
Net income per common share	$	0.04		$	0.03		$	0.11		$	0.07		$	0.19
Diluted income (loss) per common share:
Continuing operations:	$	0.05		$	0.03		$	0.12		$	0.08		$	0.20
Discontinued operations	$	(0.01	)	$	0.00		$	(0.01	)	$	(0.01	)	$	(0.01	)
Net income per common share	$	0.04		$	0.02		$	0.11		$	0.07		$	0.19
Weighted average shares outstanding:
Basic		112,870			114,159			129,225			113,515			130,709
Diluted		113,581			114,956			132,293			114,268			133,763

Entegris, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

	June 28, 2008		December 31, 2007
ASSETS
Cash, cash equivalents and short-term investments	$	132,408	$	160,655
Accounts receivable		107,592		112,053
Inventories		70,886		73,120
Deferred tax assets and deferred tax charges		23,389		23,238
Other current assets and assets held for sale		14,153		13,555
Total current assets		348,428		382,621
Property, plant and equipment, net		119,072		121,157
Intangible assets		473,614		478,495
Deferred tax asset – non-current		35,849		35,323
Other assets		28,432		17,645
Total assets	$	1,005,395	$	1,035,241
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current maturities of long-term debt	$	11,491	$	9,310
Short-term borrowings		4,691		17,802
Accounts payable		28,060		24,260
Accrued liabilities		55,067		61,884
Income tax payable		1,623		12,493
Total current liabilities		100,932		125,749
Long-term debt, less current maturities		14,737		20,373
Other liabilities		36,158		36,810
Shareholders’ equity		853,568		852,309
Total liabilities and shareholders’ equity	$	1,005,395	$	1,035,241

Entegris, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

	Three months ended
	June 28, 2008			June 30, 2007
Operating activities:
Net income	$	4,933		$	14,777
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Loss from discontinued operations		592			973
Depreciation		6,084			6,375
Amortization		4,552			4,487
Share-based compensation expense		2,323			2,701
Gain on sale of equity investments		—			(6,068	)
Other		443			(1,037	)
Changes in operating assets and liabilities, excluding effects of acquisitions:
Trade accounts receivable and notes receivable		5,511			11,219
Inventories		5,046			6,802
Accounts payable and accrued liabilities		1,648			5,185
Income taxes payable		817			3,349
Other		(1,155	)		28
Net cash provided by operating activities		30,794			48,791
Investing activities:
Acquisition of property and equipment		(5,226	)		(7,202	)
Purchase of equity investments		(2,982	)		(4,440	)
Proceeds from sale of equity investments		—			6,568
Proceeds from sale or maturities of short-term investments, net of purchases		—			171,587
Other		829			940
Net cash (used in) provided by investing activities		(7,379	)		167,453
Financing activities:
Principal payments on short-term borrowings and long-term debt		(14,523	)		(95	)
Proceeds from short-term borrowings		—			25,000
Issuance of common stock		466			15,898
Repurchase and retirement of common stock		(12,308	)		(251,404	)
Other		(13	)		1,117

Net cash used in financing activities		(26,378	)		(209,484	)
Discontinued operations:
Net cash provided by (used in) discontinued operations		651			(289	)
Effect of exchange rate changes on cash and cash equivalents		(4,173	)		(2,294	)
(Decrease) increase in cash and cash equivalents		(6,485	)		4,177
Cash and cash equivalents at beginning of period		138,893			132,358
Cash and cash equivalents at end of period	$	132,408		$	136,535

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