| Key Figures (US$ million) | ||
|---|---|---|
| First quarter ended | ||
| 28.3.2020 | 30.3.2019 | |
| Net Sales | 412.3 | 391.0 |
| Of Which: | ||
| Microcontamination Control | 159.3 | 157.7 |
| Cost of Goods Sold | 226.8 | 213.7 |
| Gross Profit | 185.5 | 177.4 |
| Selling, General & Admin Expenses | 58.9 | 82.3 |
| R&D Expenses | 29.6 | 29.0 |
| Operating Income | 80.7 | 47.5 |
| Of Which: | ||
| Microcontamination Control | 50.2 | 47.3 |
| Income before Taxes | 60.6 | 38.1 |
| Net Income | 61.0 | 32.7 |
Source: Entegris Q1 2020 results.
COMMENT.
Microelectronics materials specialist Entegris has posted first quarter fiscal 2020 net sales of US$412.3 million, up 5.4% on a year earlier.
The company's profitability was also up significantly on the fiscal 2019 figure with operating income increasing 69.9% to US$80.7 million and the net result surging 86.5% to US$61.0 million.
Revenues were up in all three of Entegris' reporting segments, albeit the growth came primarily from its Speciality Chemicals & Engineered Materials (SCEM) division where they rose 15.8% on the comparator period to reach US$144.2 million.
Sales in its Micro-contamination Control segment finished 1.0% higher at US$159.3 million with growth in liquid filtration, gas filtration and the contribution of its Anow acquisition more than offsetting declines in gas purification.
Operating profit was up in two out of three of the company's segments, again led by the SCEM division where they climbed 34% to US$32.7 million driven by higher volume and better expense control.
The Microcontamination Control division saw its segment profit climb 6.1% on the year prior to US$50.2 million, while the Advanced Materials Handling segment suffered an 8.0% reverse to US$20.6 million.
“In light of the significant challenges from Covid-19, I'm pleased with our first quarter results,” Bertrand Loy, Entegris' president and CEO, said.
“Despite major supply-chain shutdowns across many industries, our manufacturing operations were only modestly impacted by Covid-19, as a direct result of the extraordinary efforts of our Entegris teams and extended supply chain partners around the world.”
Loy added that while demand for the company's products were likely be impacted by the ongoing effects of the Covid-19 pandemic on the global economy, Entegris remained optimistic about the long-term prospects of the industry and its own future.