EX-99.1 2 dex991.htm HISTORICAL FINANCIAL INFORMATION Historical Financial Information
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