Entegris’ Strong Fourth-Quarter Caps Record Year

  • Record fourth-quarter revenue of $350.6 million grew 14 percent from prior year
  • GAAP loss per diluted share of $0.20 reflected the one-time impacts of U.S. tax reform; and non-GAAP earnings per diluted share of $0.42 grew 75 percent from prior year
  • Fiscal 2017 revenue of $1.34 billion increased 14 percent
  • Fiscal 2017 GAAP earnings per diluted share were $0.59; and non-GAAP earnings per diluted share reached $1.44

BILLERICA, Mass.--()--Entegris, Inc. (NasdaqGS: ENTG), a leader in specialty chemicals and advanced materials solutions for the microelectronics industry, today reported its financial results for the Company’s fourth quarter and fiscal year ended December 31, 2017.

The Company reported sales of $1.3 billion for fiscal 2017, an increase of 14 percent from the prior year. Net income for the year was $85.1 million, or $0.59 per diluted share, which included amortization of intangible assets of $44.0 million, asset impairment charges of $13.2 million, $2.7 million of severance expenses, $20.7 million related to the refinancing of senior notes, and $66.7 million related to the effects of the Tax Cuts and Jobs Act. In the prior year, net income was $97.1 million, or $0.68 per diluted share, which included amortization of intangible assets of $44.3 million, asset impairment charges of $5.8 million, and $2.4 million of severance expenses. Non-GAAP net income for fiscal 2017 was $206.3 million, or $1.44 per diluted share, which increased from $132.8 million, or $0.94 per diluted share, in the prior year.

Fourth-quarter sales were $350.6 million, an increase of 14 percent from the same quarter last year and 1 percent higher sequentially. Fourth-quarter net loss was $28.3 million, or $0.20 per diluted share, which included amortization of intangible assets of $11.0 million, $20.7 million related to the refinancing of senior notes, and $66.7 million related to the effects of the Tax Cuts and Jobs Act. Non-GAAP net income was $59.7 million, or $0.42 per diluted share, which compared to $34.3 million, or $0.24 per diluted share, in the same quarter a year ago. In the fourth quarter of 2017, the Company generated cash from operations less capital expenditures, or free cash flow, of $60.1 million.

Bertrand Loy, president and chief executive officer, said: “The fourth quarter marked our fifth consecutive record quarter, capping the most successful year in Entegris’ 51-year history. We grew fiscal 2017 sales 14 percent to $1.3 billion, achieving growth across all three divisions, driven by demand for our solutions in advanced memory, logic, and mainstream semiconductor production. We were very pleased with the quality of execution by the Entegris teams around the world. We delivered on our commitment to grow our bottom line at twice the rate of our top line, increasing our adjusted EBITDA by 35 percent to a record high of $357 million, or 26.6 percent of sales for the year. This strong cash flow is allowing us to create significant value through a balanced capital allocation strategy consisting of internal growth investments, strategic acquisitions, and returning available cash to shareholders through dividends and share repurchases.

Mr. Loy added: "As we look ahead, we have great conviction that the semiconductor industry is in the midst of a multi-year period of growth driven by broadening demand related to artificial intelligence, automotive, industrial, and other new applications. Our value proposition, which is built on a broad array of solutions, is enabling us to expand our served markets and will allow us to continue to outpace our markets."

Quarterly Financial Results Summary
(in thousands, except per share data)

                   
GAAP Results    

Q4-2017

   

Q4-2016

   

Q3-2017

Net sales     $350,562     $308,502     $345,591
Operating income     $71,152     $44,905     $60,655
Operating margin     20.3 %     14.6 %     17.6 %
Net (loss) income     $(28,341)     $26,098     $40,902
Diluted (loss) earnings per share (EPS)     $(0.20)     $0.18     $0.28
Non-GAAP Results
Non-GAAP adjusted operating income     $82,172     $55,843     $81,077
Adjusted operating margin     23.4 %     18.1 %     23.5 %
Non-GAAP net income     $59,694     $34,294     $56,989
Non-GAAP EPS     $0.42     $0.24     $0.40
           

First-Quarter Outlook

For the first quarter ending March 31, 2018, the Company expects sales of $355 million to $365 million, net income of $49 million to $56 million, and net income per diluted share between $0.34 and $0.39. On a non-GAAP basis, EPS is expected to range from $0.39 to $0.44 per diluted share, which reflects net income on a non-GAAP basis in the range of $56 million to $63 million, which is adjusted for expected amortization expense of approximately $11 million or $0.05 per share.

Segment Results

The Company reports its results in the following segments:

Specialty Chemicals and Engineered Materials (SCEM): SCEM provides high-performance and high-purity process chemistries, gases and materials, as well as safe and efficient delivery systems to support semiconductor and other advanced manufacturing processes.

Microcontamination Control (MC): MC solutions purify critical liquid chemistries and gases used in semiconductor manufacturing processes and other high-technology industries.

Advanced Materials Handling (AMH): AMH develops solutions to monitor, protect, transport, and deliver critical liquid chemistries and substrates for a broad set of applications in the semiconductor industry and other high-technology industries.

Fourth-Quarter Results Conference Call Details

Entegris will hold a conference call to discuss its results for the fourth quarter on Tuesday, February 6, 2018, at 9:00 a.m. Eastern Time. Participants should dial 1-800-281-7973 or 1-323-794-2093, referencing confirmation code 4357050. Participants are asked to dial in 5 to 10 minutes prior to the start of the call. For a replay of the call, please Click Here using passcode 4357050. The replay will be available starting at 12:00 p.m. ET on Tuesday, February 6 until Thursday, March 22 at 12:00 p.m. A live and on-demand webcast of the call can also be accessed from the investor relations section of Entegris’ website at www.entegris.com.

Management’s slide presentation concerning the results for the fourth quarter and fiscal year, which may be referred to during the call, will be posted on the investor relations section of www.entegris.com Tuesday morning.

ABOUT ENTEGRIS

Entegris is a leader in specialty chemicals and advanced materials solutions for the microelectronics industry 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, Israel, Japan, Malaysia, Singapore, South Korea and Taiwan. Additional information can be found at www.entegris.com.

Non-GAAP Information

The Company’s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States (GAAP). Adjusted EBITDA, Adjusted Gross Profit, Adjusted Segment Profit, and Adjusted Operating Income together with related measures thereof, and non-GAAP EPS, are considered “Non-GAAP financial measures” under the rules and regulations of the Securities and Exchange Commission. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The Company uses these non-GAAP financial measures for financial and operational decision-making, as a means to evaluate period-to-period comparisons, as well as comparisons to our competitors' operating results. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of our recurring business operating results, such as amortization, depreciation and discrete cash charges that are infrequent in nature. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing and understanding our results and performance and when planning, forecasting, and analyzing future periods. We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze our business. The reconciliations of GAAP Net Income to Adjusted Operating Income and Adjusted EBITDA, GAAP Gross Profit to Adjusted Gross Profit, GAAP Segment Profit to Adjusted Operating Income, and GAAP to Non-GAAP Earnings per Share are included elsewhere in this release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements related to future period guidance; future sales, net income, net income per diluted share, non-GAAP EPS, non-GAAP net income, expenses and other financial metrics; our performance relative to our markets; market and technology trends; the development of new products and the success of their introductions; Company's capital allocation strategy, which may be modified at any time for any reason, including share repurchases, dividends, debt repayments and potential acquisitions; the effect of the Tax Cuts and Jobs Act on our capital allocation strategy; the impact of the acquisitions we have made and commercial partnerships we have established; our ability to execute on our strategies; and other matters. These statements involve risks and uncertainties, and actual results may differ. These risks and uncertainties include, but are not limited to, weakening of global and/or regional economic conditions, generally or specifically in the semiconductor industry, which could decrease the demand for our products and solutions; our ability to meet rapid demand shifts; our ability to continue technological innovation and introduce new products to meet our customers' rapidly changing requirements; our concentrated customer base; our ability to identify, effect and integrate acquisitions, joint ventures or other transactions; our ability to protect and enforce intellectual property rights; operational, political and legal risks of our international operations; our dependence on sole source and limited source suppliers; the increasing complexity of certain manufacturing processes; raw material shortages and price increases; changes in government regulations of the countries in which we operate; fluctuation of currency exchange rates; fluctuations in the market price of Entegris’ stock; the level of, and obligations associated with, our indebtedness; and other risk factors and additional information described in our filings with the Securities and Exchange Commission, including under the heading “Risks Factors" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed on February 17, 2017, and in our other periodic filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Entegris, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
         
Three months ended
December 31, 2017     December 31, 2016     September 30, 2017
Net sales $350,562     $308,502     $345,591
Cost of sales 186,883     176,702     190,184
Gross profit 163,679 131,800 155,407
Selling, general and administrative expenses 55,018 48,734 57,699
Engineering, research and development expenses 26,489 27,223 26,002
Amortization of intangible assets 11,020     10,938     11,051
Operating income 71,152 44,905 60,655
Interest expense, net 7,533 8,983 7,599
Other expense, net 21,696     1,303     2,906
Income before income tax expense 41,923 34,619 50,150
Income tax expense 70,264     8,521     9,248
Net (loss) income $(28,341)     $26,098     $40,902
 
 
Basic net (loss) income per common share: $(0.20) $0.18 $0.29
Diluted net (loss) income per common share: $(0.20) $0.18 $0.28
 
Weighted average shares outstanding:
Basic 141,329 141,315 141,684
Diluted 141,329 142,631 143,594
 
 
Entegris, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
           
Twelve months ended
December 31, 2017     December 31, 2016  
Net sales $1,342,532   $1,175,270
Cost of sales 733,547     666,579  
Gross profit 608,985 508,691
Selling, general and administrative expenses 216,194 201,901
Engineering, research and development expenses 106,951 106,991
Amortization of intangible assets 44,023     44,263  
Operating income 241,817 155,536
Interest expense, net 31,628 36,528
Other expense (income), net 25,458     (991 )
Income before income tax expense 184,731 119,999
Income tax expense 99,665     22,852  
Net income $85,066     $97,147  
 
 
Basic net income per common share: $0.60 $0.69
Diluted net income per common share: $0.59 $0.68
 
Weighted average shares outstanding:
Basic 141,553 141,093
Diluted 143,518 142,050
 
 
Entegris, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
       
December 31, 2017 December 31, 2016
ASSETS
Cash and cash equivalents $625,408 $406,389
Accounts receivable, net 183,434 165,675
Inventories 198,089 183,529
Deferred tax charges and refundable income taxes 18,012 20,140
Other current assets 32,665 24,398
Total current assets 1,057,608 800,131
 
Property, plant and equipment, net 359,523 321,562
 
Goodwill 359,688 345,269
Intangible assets 182,430 217,548
Deferred tax assets - non-current 9,103 8,022
Other assets 7,820 7,000
Total assets $1,976,172 $1,699,532
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Long-term debt, current maturities $100,000 $100,000
Accounts payable 68,762 61,617
Accrued liabilities 99,374 83,530
Income tax payable 22,835 16,424
Total current liabilities 290,971 261,571
 
Long-term debt, excluding current maturities 574,380 484,677
Other liabilities 117,803 54,066
Shareholders’ equity 993,018 899,218
Total liabilities and shareholders’ equity $1,976,172 $1,699,532
 
 
Entegris, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
       
Three months ended     Twelve months ended
December 31, 2017     December 31, 2016     December 31, 2017     December 31, 2016
Operating activities:        
Net (loss) income

$(28,341

)

$26,098 $85,066 $97,147
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation 15,035 14,303 58,208 55,623
Amortization 11,020 10,938 44,023 44,263
Stock-based compensation expense 3,849 3,373 15,306 13,436
Provision for deferred income taxes 1,841 (15,770 ) 2,095 (16,284 )
Loss on extinguishment of debt 20,687 20,687
Other 4,267 3,326 28,295 22,993
Changes in operating assets and liabilities:
Trade accounts and notes receivable (56 ) (3,046 ) (15,401 ) (25,298 )
Inventories (5,330 ) (2,575 ) (20,214 ) (19,871 )
Accounts payable and accrued liabilities 8,377 4,777 15,975 31,294
Income taxes payable and refundable income taxes 62,385 14,592 64,049 3,408
Other     (7,993 )     1,063       (4,716 )     844  
Net cash provided by operating activities     85,741       57,079       293,373       207,555  
Investing activities:
Acquisition of property and equipment (25,658 ) (19,992 ) (93,597 ) (65,260 )
Acquisition of business (20,000 )
Other     68       94       1,142       (1,426 )
Net cash used in investing activities     (25,590 )     (19,898 )     (112,455 )     (66,686 )
Financing activities:
Payments on long-term debt (385,000 ) (25,000 ) (460,000 ) (75,000 )
Proceeds from long-term borrowings 550,000 550,000
Payments for debt extinguishment costs (16,200 ) (16,200 )
Issuance of common stock 1,984 1,952 5,566 4,844
Taxes paid related to net share settlement of equity awards (480 ) (702 ) (5,887 ) (4,018 )
Repurchase and retirement of common stock (10,000 ) (4,000 ) (28,000 ) (7,573 )
Dividend payments (9,896 ) (9,896 )
Other     (7,062 )     (493 )     (8,332 )      
Net cash provided by (used in) financing activities     123,346       (28,243 )     27,251       (81,747 )
Effect of exchange rate changes on cash     6,714       (14,326 )     10,850       (2,558 )
Increase (decrease) in cash and cash equivalents 190,211 (5,388 ) 219,019 56,564
Cash and cash equivalents at beginning of period     435,197       411,777       406,389       349,825  
Cash and cash equivalents at end of period     $625,408       $406,389       $625,408       $406,389  
 
 
Entegris, Inc. and Subsidiaries
Segment Information
(In thousands)
(Unaudited)
       
Three months ended     Twelve months ended
Net sales     December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Specialty Chemicals and Engineered Materials $125,339     $110,945     $124,522 $485,470     $428,328
Microcontamination Control 115,650 98,717 116,113 436,225 362,658
Advanced Materials Handling 109,573     98,840     104,956     420,837     384,284
Total net sales $350,562     $308,502     $345,591     $1,342,532     $1,175,270
    Three months ended     Twelve months ended
Segment profit     December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Specialty Chemicals and Engineered Materials $35,898     $25,919     $34,647     $132,859     $96,060
Microcontamination Control 44,666 31,719 43,984 160,715 110,042
Advanced Materials Handling 23,240     16,644     16,882     77,971     73,452
Total segment profit 103,804 74,282 95,513 371,545 279,554
Amortization of intangibles 11,020 10,938 11,051 44,023 44,263
Unallocated expenses 21,632     18,439     23,807     85,705     79,755
Total operating income $71,152     $44,905     $60,655     $241,817     $155,536
 
 

Entegris, Inc. and Subsidiaries

Reconciliation of GAAP Gross Profit to Adjusted Gross Profit

(In thousands)

       

(Unaudited)

 
Three months ended     Twelve months ended
      December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Net sales     $350,562     $308,502     $345,591     $1,342,532     $1,175,270
Gross profit-GAAP $163,679     $131,800     $155,407 $608,985     $508,691
Adjustments to gross profit:
 
Severance related to organizational realignment 740 740 431
Impairment of equipment         3,364     5,330     5,826
Adjusted gross profit $163,679     $131,800     $159,511     $615,055     $514,948
 
Gross margin - as a % of net sales 46.7% 42.7% 45.0% 45.4% 43.3%
 
Adjusted gross margin - as a % of net sales     46.7%     42.7%     46.2%     45.8%     43.8%
 
       

Entegris, Inc. and Subsidiaries

Reconciliation of GAAP Segment Profit to Adjusted Operating Income

(In thousands)

(Unaudited)

 
Three months ended     Twelve months ended
Segment profit-GAAP     December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Specialty Chemicals and Engineered Materials $35,898     $25,919     $34,647 $132,859     $96,060
Microcontamination Control 44,666 31,719 43,984 160,715 110,042
Advanced Materials Handling 23,240     16,644     16,882     77,971     73,452
Total segment profit 103,804 74,282 95,513 371,545 279,554
Amortization of intangible assets 11,020 10,938 11,051 44,023 44,263
Unallocated expenses 21,632     18,439     23,807     85,705     79,755
Total operating income $71,152     $44,905     $60,655     $241,817     $155,536
 
Segment profit margin-GAAP
Specialty Chemicals and Engineered Materials 28.6% 23.4% 27.8% 27.4% 22.4%
Microcontamination Control 38.6% 32.1% 37.9% 36.8% 30.3%
Advanced Materials Handling 21.2% 16.8% 16.1% 18.5% 19.1%
    Three months ended     Twelve months ended
Adjusted segment profit     December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Specialty Chemicals and Engineered Materials 1 $35,898     $25,919     $34,661     $132,873     $96,759
Microcontamination Control 2 44,666 31,719 44,180 162,354 110,779
Advanced Materials Handling 3 23,240     16,644     22,103     85,478     80,247
Total adjusted segment profit 103,804 74,282 100,944 380,705 287,785

Amortization of intangible assets 4

Unallocated expenses 5

21,632     18,439     19,867     81,765     79,755
Total adjusted operating income $82,172     $55,843     $81,077     $298,940     $208,030
 
Adjusted segment profit margin
Specialty Chemicals and Engineered Materials 28.6% 23.4% 27.8% 27.4% 22.6%
Microcontamination Control 38.6% 32.1% 38.0% 37.2% 30.5%
Advanced Materials Handling 21.2% 16.8% 21.1% 20.3% 20.9%

1 Adjusted segment profit for Specialty Chemicals and Engineered Materials for the three months ended September 30, 2017, and the twelve months ended December 31, 2017 and December 31, 2016 excludes charges for severance related to organizational realignment of $14, $14 and $699, respectively.
2 Adjusted segment profit for Microcontamination Control excludes charges for impairment of equipment and severance related to organizational realignment of $196 for the three months ended September 30, 2017. Adjusted segment profit for Microcontamination Control excludes impairment of equipment and charges for severance related to organizational realignment of $1,639 and $737 for the twelve months ended December 31, 2017 and 2016, respectively.
3 Adjusted segment profit for Advanced Material Handling excludes charges for impairment of equipment and severance related to organizational realignment of $5,221 for the three months ended September 30, 2017. Adjusted segment profit for Advanced Material Handling excludes charges for impairment of equipment and severance related to organizational realignment of $7,507 and $6,795 for the twelve months ended December 31, 2017 and 2016, respectively.
4 Adjusted amortization of intangible assets excludes amortization expense of $11,020, $10,938, and $11,051 for the three months ended December 31, 2017, December 31, 2016, and September 30, 2017, respectively, and $44,023 and $44,263 for the twelve months ended December 31, 2017 and December 31, 2016, respectively.
5 Adjusted unallocated expenses excludes charges for impairment of intangibles and severance related to organizational realignment of $3,940 for the three months ended September 30, 2017 and the twelve months ended December 31, 2017.

       

Entegris, Inc. and Subsidiaries

Reconciliation of GAAP Net Income to Adjusted Operating Income and Adjusted EBITDA

(In thousands)

(Unaudited)

 
Three months ended     Twelve months ended
December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
Net sales $350,562     $308,502     $345,591     $1,342,532     $1,175,270
Net (loss) income $(28,341)     $26,098     $40,902 $85,066     $97,147
Adjustments to net (loss) income:
Income tax expense 70,264 8,521 9,248 99,665 22,852
Interest expense, net 7,533 8,983 7,599 31,628 36,528
Other expense (income), net 21,696     1,303     2,906     25,458     (991)
GAAP - Operating income 71,152 44,905 60,655 241,817 155,536
 
Severance 2,141 2,700 2,405
 
Impairment of equipment and intangibles 1 7,230 10,400 5,826
Amortization of intangible assets 11,020     10,938     11,051     44,023     44,263
Adjusted operating income 82,172 55,843 81,077 298,940 208,030
Depreciation 15,035     14,303     14,785     58,208     55,623
Adjusted EBITDA $97,207     $70,146     $95,862     $357,148     $263,653
 
Adjusted operating margin 23.4% 18.1% 23.5% 22.3% 17.7%
Adjusted EBITDA - as a % of net sales     27.7%     22.7%     27.7%     26.6%     22.4%

1 Includes product line impairment charges of $3,364 classified as cost of sales for the three months ended September 30, 2017. Includes product line impairment charges of $5,330 and $5,826 classified as cost of sales for the twelve months ended December 31, 2017 and 2016, respectively.

Includes intangible impairment charge of $3,866 classified as selling general and administrative expense for both the three months ended September 30, 2017 and the twelve months ended December 31, 2017.

Includes product line impairment charge of $320 classified as selling general and administrative expense for the twelve months ended December 31, 2017.

Includes product line impairment charge of $884 classified as engineering, research and development expense for the twelve months ended December 31, 2017.

 

Entegris, Inc. and Subsidiaries

Reconciliation of GAAP Net (Loss) Income to Non-GAAP Earnings per Share

(In thousands, except per share data)

(Unaudited)

       
Three months ended     Twelve months ended
      December 31, 2017     December 31, 2016     September 30, 2017     December 31, 2017     December 31, 2016
GAAP net (loss) income $(28,341)     $26,098     $40,902 $85,066     $97,147
Adjustments to net (loss) income:
 
Severance 2,141 2,700 2,405
Impairment of equipment and intangibles 1 10,030 13,200 5,826
Loss on debt extinguishment 20,687 20,687
Net gain on sale of investments (156)
Amortization of intangible assets 11,020 10,938 11,051 44,023 44,263
Tax effect of adjustments to net income and discrete items (10,385) (2,742) (7,135) (26,046) (16,637)
Tax effect of Tax Cuts and Jobs Act 66,713             66,713    
Non-GAAP net income $59,694     $34,294     $56,989     $206,343     $132,848
 
Diluted (loss) earnings per common share $(0.20) $0.18 $0.28 $0.59 $0.68
Effect of adjustments to net income $0.61 $0.06 $0.11 $0.85 $0.25
 
Diluted non-GAAP earnings per common share     $0.42     $0.24     $0.40     $1.44     $0.94

1 Includes product line impairment charges of $3,364 classified as cost of sales for the three months ended September 30, 2017. Includes product line impairment charges of $5,330 and $5,826 classified as cost of sales for the twelve months ended December 31, 2017 and 2016, respectively.

Includes intangible impairment charge of $3,866 classified as selling general and administrative expense for both the three months ended September 30, 2017 and the twelve months ended December 31, 2017.

Includes product line impairment charge of $320 classified as selling general and administrative expense for the twelve months ended December 31, 2017.

Includes product line impairment charge of $884 classified as engineering, research and development expense for the twelve months ended December 31, 2017.

Includes product line impairment charge of $2,800 classified as other expense for the three months ended September 30, 2017 and the twelve months ended December 31, 2017.

Contacts

Entegris, Inc.
Steven Cantor, 978-436-6500
VP of Investor Relations
irelations@entegris.com

Release Summary

Fourth quarter earnings release

Contacts

Entegris, Inc.
Steven Cantor, 978-436-6500
VP of Investor Relations
irelations@entegris.com