Entegris beats by $0.01, beats on revs; guides Q4 EPS below consensus, revs below consensus; Bertrand Loy, currently COO will succeed Gideon Argov as President and CEO
6:10 AM ET 10/24/12 | Briefing.com
Reports Q3 (Sep) earnings of $0.16 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.15; revenues rose 6.6% year/year to $184.4 mln vs the $181.69 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.10-0.12 vs. $0.13 Capital IQ Consensus Estimate; sees Q4 revs of $160-170 mln vs. $177.14 mln Capital IQ Consensus Estimate. "We are pleased with our third-quarter performance. Although trends in the semiconductor industry softened in the quarter as expected, there was strong demand for our advanced filtration and wafer handling solutions as we continue to benefit from the industry's ramp of 28 nanometer and next-generation semiconductor fab processes. We also achieved our target operating model and generated strong cash flow during the quarter."
Co also announced that Bertrand Loy, currently chief operating officer will succeed Gideon Argov as president and CEO as part of a management succession and transition plan. Effective November 1, 2012, Bertrand Loy will be promoted to president and elected to the Entegris Board of Directors. Gideon Argov will continue to serve as chief executive officer and director of Entegris until November 27, 2012 when Mr. Loy will assume the position of chief executive officer.
