MIRA INFORM REPORT

 

 

Report Date :

11.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ENTEGRIS INC  

 

 

Registered Office :

129 Concord Road, Billerica, MA 01821

 

 

Country :

United States 

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

17.03.2005

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

Subject is a global developer, manufacturer and supplier of products and materials used in processing and manufacturing in the semiconductor and other high-technology industries

 

 

No. of Employees :

2,700

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

Fairly Large

 

Status :

Good

Payment Behaviour :

Regular

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

United States 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 


 

united StaTes ECONOMIC OVERVIEW

 

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that will extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops to 6.5% from the December rate of 7.8%, or until inflation rises above 2.5%. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits - including significant budget shortages for state governments.

 

Source : CIA

 


Company name & address

 

Entegris Inc 

129 Concord Road

Billerica, MA 01821

United States

Tel:                   978-436-6500

Fax:                  978-436-6735

Toll Free:          (800) 394-4083

 Web:               www.entegris.com

           

 

synthesis

 

Employees:                 2,700

Company Type:            Public Parent

Corporate Family:          25 Companies

Traded:                         NASDAQ:         ENTG

Incorporation Date:        17-Mar-2005

Auditor:                                   KPMG LLP

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2012

Reporting Currency:       US Dollar

Annual Sales:               715.9  1

Net Income:                  68.8

Total Assets:                811.5  2

Market Value:               1,418.5 (27-Sep-2013)

 

Business Description     

 

Entegris, Inc. is a global developer, manufacturer and supplier of products and materials used in processing and manufacturing in the semiconductor and other high-technology industries. For the semiconductor industry, the Company’s products maintain the purity and integrity of critical materials used by the semiconductor manufacturing process. For other high-technology applications, its products and materials are used to manufacture flat panel displays, light emitting diodes, high-purity chemicals, photoresists, fuel cells, solar cells, gas lasers, optical and magnetic storage devices, fiber optic cables and critical components for aerospace, glass manufacturing and biomedical applications. It designs, manufactures and markets its products through three business segments: contamination control solutions segment, microenvironments segment and specialty materials segment. In April 2013, it acquired Jetalon Solutions Inc. For the 26 weeks ended 29 June 2013, Entegris Inc revenues decreased 6% to $342.6M. Net income decreased 8% to $36.2M. Revenues reflect Contamination Control Solutions segment decrease of 7% to $114.6M, Entegris Speciality Materials segment decrease of 17% to $17M. Net income also reflects Contamination Control Solutions segment income decrease of 18% to $28.6M, Entegris Speciality Materials segment income decrease of 57% to $1.9M.


Industry

Industry           Rubber and Plastic Product Manufacturing

ANZSIC 2006:   1919 - Other Polymer Product Manufacturing

ISIC Rev 4:        2220 - Manufacture of plastics products

NACE Rev 2:     2229 - Manufacture of other plastic products

NAICS 2012:     333413 - Industrial and Commercial Fan and Blower and Air Purification Equipment

Manufacturing

UK SIC 2007:    2229 - Manufacture of other plastic products

US SIC 1987:    3089 - Plastics Products, Not Elsewhere Classified

 

           

Key Executives

(Emails Available)       

 

Name

Title

Bertrand Loy

President and Chief Executive Officer

Gregory B. Graves

Chief Financial Officer, Executive Vice President, Treasurer

Peter W. Walcott

Senior Vice President, General Counsel, Secretary

John J. Murphy

Senior Vice President - Human Resources

Steve Cantor

Director of Investor Relations

 

 

Significant Developments  

 

 

Topic

#*

Most Recent Headline

Date

Negative Earnings Pre-Announcement

4

Entegris Inc Issues Q3 2013 Guidance Below Analysts' Estimates

23-Jul-2013

Officer Changes

1

Entegris Inc Announces Management Change-Form 8-K

24-Oct-2012

Strategic Combinations

1

Entegris Inc Partners with SEMATECH to Advance Surface Conditioning and Wafer Cleaning Technology for Semiconductor Device Manufacturing

16-Sep-2013

Positive Earnings Pre-Announcement

1

Entegris Inc Updates On Q2 2013 Revenue Guidance; Raises Q2 2013 EPS Guidance-Conference Call

17-May-2013

 

* number of significant developments within the last 12 months             

 

 

Financial Summary    

 

 

As of 29-Jun-2013

Key Ratios

Company

Industry

Current Ratio (MRQ)

6.10

3.90

Quick Ratio (MRQ)

5.05

3.02

Debt to Equity (MRQ)

0.0000

0.21

Sales 5 Year Growth

2.71

11.04

Net Profit Margin (TTM) %

9.42

19.30

Return on Assets (TTM) %

8.18

15.21

Return on Equity (TTM) %

9.57

21.72

 

 

Stock Snapshot  

 

 

Traded: NASDAQ: ENTG

 

As of 27-Sep-2013

   Financials in: USD

Recent Price

10.20

 

EPS

0.50

52 Week High

10.64

 

Price/Sales

1.98

52 Week Low

7.50

 

Price/Earnings

19.85

Avg. Volume (mil)

0.87

 

Price/Book

2.03

Market Value (mil)

1,418.45

 

Beta

3.72

 

Price % Change

Rel S&P 500%

4 Week

8.51%

4.74%

13 Week

8.68%

3.19%

52 Week

22.89%

5.12%

Year to Date

11.11%

-6.33%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = USD 1

2 - Balance Sheet Item Exchange Rate: USD 1 = USD 1

 

Corporate Overview

 

Location

129 Concord Road

Billerica, MA, 01821

Middlesex County

United States

Tel:                   978-436-6500

Fax:                  978-436-6735

Toll Free Tel:     (800) 394-4083

Web:                www.entegris.com

           

Quote Symbol - Exchange

ENTG - NASDAQ

Sales USD(mil):             715.9

Assets USD(mil):           811.5

Employees:                  2,700

Fiscal Year End:            31-Dec-2012

Industry:                       Fabricated Plastic and Rubber

Incorporation Date:        17-Mar-2005

Company Type:             Public Parent

Quoted Status:              Quoted

 

President and Chief Executive Officer:

Bertrand Loy

 

Industry Codes

 

ANZSIC 2006 Codes:

1919     -          Other Polymer Product Manufacturing

1916     -          Paint and Coatings Manufacturing

2499     -          Other Machinery and Equipment Manufacturing Not Elsewhere Classified

2299     -          Other Fabricated Metal Product Manufacturing Not Elsewhere Classified

2439     -          Other Electrical Equipment Manufacturing

2419     -          Other Professional and Scientific Equipment Manufacturing

2469     -          Other Specialised Machinery and Equipment Manufacturing

 

ISIC Rev 4 Codes:

2220     -          Manufacture of plastics products

2022     -          Manufacture of paints, varnishes and similar coatings, printing ink and mastics

2651     -          Manufacture of measuring, testing, navigating and control equipment

2819     -          Manufacture of other general-purpose machinery

2790     -          Manufacture of other electrical equipment

2813     -          Manufacture of other pumps, compressors, taps and valves

 

NACE Rev 2 Codes:

2229     -          Manufacture of other plastic products

2030     -          Manufacture of paints, varnishes and similar coatings, printing ink and mastics

2829     -          Manufacture of other general-purpose machinery n.e.c.

2651     -          Manufacture of instruments and appliances for measuring, testing and navigation

2790     -          Manufacture of other electrical equipment

2814     -          Manufacture of other taps and valves

2825     -          Manufacture of non-domestic cooling and ventilation equipment

 

NAICS 2012 Codes:

333413  -          Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing

333318  -          Other Commercial and Service Industry Machinery Manufacturing

335991  -          Carbon and Graphite Product Manufacturing

334513  -          Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling

Industrial Process Variables

333249  -          Other Industrial Machinery Manufacturing

325510  -          Paint and Coating Manufacturing

332911  -          Industrial Valve Manufacturing

 

US SIC 1987:

3089     -          Plastics Products, Not Elsewhere Classified

2851     -          Paints, Varnishes, Lacquers, Enamels, and Allied Products

3491     -          Industrial Valves

3624     -          Carbon and Graphite Products

3823     -          Industrial Instruments for Measurement, Display, and Control of Process Variables; and Related Products

3589     -          Service Industry Machinery, Not Elsewhere Classified

3559     -          Special Industry Machinery, Not Elsewhere Classified

3564     -          Industrial and Commercial Fans and Blowers and Air Purification Equipment

 

UK SIC 2007:

2229     -          Manufacture of other plastic products

20301   -          Manufacture of paints, varnishes and similar coatings, mastics and sealants

2829     -          Manufacture of other general-purpose machinery n.e.c.

2651     -          Manufacture of instruments and appliances for measuring, testing and navigation

2814     -          Manufacture of other taps and valves

2790     -          Manufacture of other electrical equipment

2825     -          Manufacture of non-domestic cooling and ventilation equipment

 

Business Description

Entegris, Inc., incorporated on March 17, 2005, is a global developer, manufacturer and supplier of products and materials used in processing and manufacturing in the semiconductor and other high-technology industries. For the semiconductor industry, the Company’s products maintain the purity and integrity of critical materials used by the semiconductor manufacturing process. For other high-technology applications, its products and materials are used to manufacture flat panel displays, light emitting diodes (LEDs), high-purity chemicals, photoresists, fuel cells, solar cells, gas lasers, optical and magnetic storage devices, fiber optic cables and critical components for aerospace, glass manufacturing and biomedical applications. It designs, manufactures and markets its products through three business segments: contamination control solutions segment, which offers a range of products that purify, monitor and deliver critical liquids and gases to the semiconductor manufacturing process and similar manufacturing processes; microenvironments segment, which offers products to preserve the integrity of wafers, reticles and electronic components at various stages of transport, processing and storage, and specialty materials segment, which offers materials, components and services to a range of customers in the semiconductor industry and in adjacent and unrelated industries. In April 2013, it acquired Jetalon Solutions Inc.

 

The Company sells its products through a direct sales force and through selected distributors. It offers a product portfolio, which includes more than 17,000 standard and customized products. Its products include both unit driven and capital expense driven products. Unit-driven and consumable products are consumed or exhausted during the manufacturing process. Its unit-driven and consumable product class includes membrane-based liquid filters and housings, metal-based gas filters, resin-based gas purifiers, wafer shippers, disk-shipping containers and test assembly and packaging products and consumable graphite and silicon carbide components used in plasma etch, ion implant and chemical vapor deposition (CVD) processes in semiconductor manufacturing.

 

The Company’s wafer and reticle carriers are high-purity micro-environments, which carry wafers between each of the process steps, protecting them from damage and contamination during these transport operations. Its fluid handling components assure the delivery of pure liquid chemicals to each of these process steps. Once the front-end manufacturing process is completed, finished wafers are transferred to back-end manufacturers or assemblers. The back-end semiconductor manufacturing process consists of test, assembly and packaging of finished wafers into integrated circuits. Its wafer shippers, wafer and reticle carriers and integrated circuit trays facilitate the storage, transport, processing and protection of wafers through these front-end and back-end manufacturing steps.

 

Contamination Control Solutions

 

Liquid processing occurs during multiple manufacturing steps, including photolithography, deposition, planarization and surface etching and cleaning. The fluids that are used include various mixtures of acids, bases, solvents, slurries and photochemicals, which in turn are used over a range of operating conditions, including temperatures from 5 degrees Celsius up to 180 degrees Celsius. Specially designed filters remove sub-micron sized particles and bubbles from the different fluid streams that are used in the manufacturing process. Some of its filters are constructed with ultra-high molecular weight polyethylene flat sheet membranes. Its hold-up volume disposable filters, with flat sheet membranes, use its Connectology technology to allow filter changes in less than a minute. It offers chemical delivery products that allow the delivery of chemicals from the chemical manufacturer to the point-of-use in the semiconductor fab. These products are made from perfluoroalkoxy (PFA), a fluoropolymer resin. Both semiconductor manufacturers and semiconductor original equipment manufacturers (OEMs) use its chemical delivery products and systems. Its product line provides the customers with a single-source provider for their chemical storage and management needs throughout the manufacturing process.

 

The Company’s chemical delivery products include valves, fittings, tubing, pipe, chemical containers, custom fabricated products and associated connection systems for high-purity chemical applications. Its photochemical filtration and dispense systems integrate its patented two-stage, filter device and valve control technologies. Its two-stage technology permits the filtering and dispenses functions to operate independently so that filtering and dispensing of photochemicals can occur at different rates. It offers a range of filters designed to connect with these systems. Its digital valve control technology improves chemical uniformity on wafers and improves ease of optimized system operation. In addition, its integrated high-precision liquid dispense systems enable uniform application of photoresists for the spin-coating process, where uniformity is measured in units of Angstroms, a tiny fraction of the thickness of a human hair.

 

The Company offers a range of measurement and control products for high-purity and corrosive applications. For electronic measurement and control of liquids, it provides a range of pressure and flow measurement and control products, as well as all-plastic capacitance sensors for leak detection, valve position, chemical level and other measurements. It also offers mechanical gauge pressure measurement products. In addition, it offers a range of consumable polyvinyl alcohol (PVA) roller brush products to clean the wafer following the chemical mechanical planarization process. Its Planarcore PVA roller brush is molded on the core to allow easy installation that reduces tool downtime and a dimensionally stable product that provides consistent wafer-to-wafer cleaning performance.

 

The Company’s Wafergard, ChamberGard and Waferpure particle and molecular filtration products purify the gas entering the process chamber in order to eliminate system and wafer problems due to particulate, atmospheric and chemical contaminants. These filters are able to retain all particles 0.003 microns and larger. Its metal filters, such as stainless steel and nickel filters, reduce outgassing. Its Waferpure and Aeronex Gatekeeper purifiers chemically react with and absorb contaminants, such as oxygen and water, to prevent contamination, and its ChamberGard vent diffusers reduce particle contamination and processing cycle times. It offers a range of gas purification products to meet the stringent requirements of semiconductor processing. Its Aeronex Gas Purification Systems contain dual-resin beds, providing a continuous supply of purified gas without process interruption. Its product line also includes filter housings and hybrid media chemical air filters which purify air entering tool enclosures and remove airborne molecular contaminants.

 

Microenvironments

 

The Company’s microenvironment products fall into three sub-categories, wafer and reticle handling products, wafer shipping products and data storage products. It is a global producer of wafer and reticle handling products. It offers a range of products that hold and position wafers as they travel between each piece of equipment used in the automated semiconductor manufacturing process. These specialized carriers provide precise wafer positioning, wafer protection and reliable and predictable cassette interfaces in automated fabs. It provides standard and customized products, which meet a customers’ wafer handling needs, provides standard unified pods (FOUPs), wafer transport and process carriers, standard mechanical interface (SMIF) pods and work-in-process boxes. It offers wafer carriers in a range of materials, including advanced polymeric materials, and in sizes ranging from 100 millimeters through 300 millimeters, as well as for experimental 450 millimeters wafers. It is also a global provider of mask and reticle handling products, including reticle SMIF pods for the protection of contamination-sensitive lithography reticles. Through its Clarilite -branded product offerings, it is providing its customers with contamination control solutions.

 

The Company is a global provider of shipping products that preserve the raw silicon wafers as they are transported from wafer manufacturers to semiconductor manufacturers or finished wafers shipped to back end processors. Its Ultrapak and Crystalpak products, which is supplied to wafer manufacturers in a range of sizes covering 100, 125, 150 and 200 millimeters wafers. It also offers full-pitch, front-opening shipping box (FOSB), for the transportation and automated interface of 300 millimeters wafers. It offers a complete shipping system, including both wafer shipping containers, as well as secondary packaging that provides another level of protection for wafers. It offers a Single Wafer Shipper and a Multi-Application Carrier. It offers outsourcing programs for wafer and device transportation and protection for both wafer manufacturing and wafer handling products. Its Wafercare and DeviceCare services include product cleaning, certified re-use services for shipping products, on-site and off-site product maintenance and optimization, and end-of-life recycling for its wafer, device and disk-handling products. Re-use services can be customized depending on the customer’s needs to provide product cleaning, logistics, recovery, certification and supply solutions for its products.

 

The Company provides products and solutions to manage two sectors in the data storage market: magnetic disks and the read/write heads used to read and write higher density disks. It offers products that protect and maintain the integrity of these components during their processing, storage and shipment. Its product offerings for magnetic hard disk drives include process carriers, boxes, packages, tools and shippers for aluminum and other disk substrates. Its optical hard disk drive products include stamper cases, process carriers, boxes and glass master carriers. Its read/write head products include transport trays, carriers, handles, boxes, individual disk substrate packages and accessories. It offers chip and matrix trays, as well as carriers for bare die handling and integrated circuits. Its materials management products are available in a range of sizes with various feature sets. Its standard trays offer dimensional stability and permanent electrostatic discharge protection. Its trays also offer a number of features, including custom designs to minimize die movement and contact; shelves and pedestals to minimize direct die contact, special pocket features to handle various surface finishes to eliminate die sticking, and other features for automated or manual die placement and removal. In addition, it supports its product line with a range of accessories to address specific needs such as static control, cleaning, chip washing and other related requirements.

 

Specialty Materials

 

The Company’s specialty materials products fall into two sub-categories: Poco Graphite Products and Specialty Coating Products. These products all provide materials science enabling solutions in the form of materials, components or services that provide corrosion, high temperature, wear and chemical resistance, electrical and thermal conductivity, and biocompatibility to a wide range of customers both within the semiconductor industry and in adjacent and unrelated industries. These products are made from specialized graphite or silicon carbide. Its Poco Graphite products sold to the semiconductor industry are used for components for semiconductor manufacturing equipment at various stages of the semiconductor manufacturing process, including CVD, where its expendable graphite chamber liners and shower heads are critical components used in the CVD chamber; dry or plasma etch, where its consumable graphite components deliver, baffle and confine the process gases during the etch process, and ion implant, where its consumable graphite components are elements of ion implantation equipment. In addition, its Poco Graphite is used as precision consumable electrodes for electrical discharge machining, a non-contact precision thermoelectric machining process for hard and exotic metals and other materials. Poco Graphite also manufactures a number of graphite hot glass contact materials for use in the manufacture of glass containers. Poco Graphite manufactures a number of graphite consumable products for various industrial applications, including bushings and thrust washers for aerospace applications, substrates for industrial print heads, components for scan heads in industrial optical applications, cathodes for fuel cells and materials to manufacturers of artificial heart valves for human implantation.

 

The Company offers a range of specialty coatings for critical components used in semiconductor and other high-technology manufacturing operations. These components, often in complex geometries, are coated by means of a plasma-assisted CVD process to provide corrosion and abrasion resistance and desired conductivity and hydrophobicity properties. It also provides complex assemblies such as electrostatic chucks for ion implant equipment, where its coatings prevent contamination of the process. Its coatings are also used in other high-technology applications such as aerospace optical components.

 

The Company competes with Pall Corporation, Saint-Gobain, Parker, Gemu, Donaldson, Iwaki Co., Ltd., SAES Puregas, Mott Metallurgical Corporation, Miraial, Dainichi, Shin-Etsu Polymer, e.PAK Resources Pte. Ltd, ITW/Camtex, Peak International, 3M, Mersen, Tokai Carbon and Toyo Tanso.

 

More Business Descriptions

Entegris, Inc. is a global developer, manufacturer and supplier of products and materials used in processing and manufacturing in the semiconductor and other high-technology industries. For the semiconductor industry, the Company’s products maintain the purity and integrity of critical materials used by the semiconductor manufacturing process. For other high-technology applications, its products and materials are used to manufacture flat panel displays, light emitting diodes, high-purity chemicals, photoresists, fuel cells, solar cells, gas lasers, optical and magnetic storage devices, fiber optic cables and critical components for aerospace, glass manufacturing and biomedical applications. It designs, manufactures and markets its products through three business segments: contamination control solutions segment, microenvironments segment and specialty materials segment. In April 2013, it acquired Jetalon Solutions Inc. For the 26 weeks ended 29 June 2013, Entegris Inc revenues decreased 6% to $342.6M. Net income decreased 8% to $36.2M. Revenues reflect Contamination Control Solutions segment decrease of 7% to $114.6M, Entegris Speciality Materials segment decrease of 17% to $17M. Net income also reflects Contamination Control Solutions segment income decrease of 18% to $28.6M, Entegris Speciality Materials segment income decrease of 57% to $1.9M.

 

Semiconductor & Disk Drive Materials Transport & Protection Services

 

Establishments primarily engaged in manufacturing special industry machinery, not elsewhere classified, such as smelting and refining equipment, cement making, clayworking, cotton ginning, glass making, hat making, incandescent lamp making, leather working, paint making, rubber working, cigar and cigarette making, tobacco working, shoe making, and stone working machinery, and industrial sewing machines, and automotive maintenance machinery and equipment.

 

Entegris, Inc. (Entegris) is a semiconductor and related equipment manufacturer. The company develops, manufactures, and supplies products and materials used in microelectronics and other high-technology industries. It operates through its subsidiaries in the US, Japan, Delaware, the Netherlands, the UK, Israel, India, France, South Korea, China, Malaysia, Singapore, Taiwan and Germany. The company operates through its reportable business segment such as, Contamination Control Solutions (CCS), Microenvironments (ME), and Specialty Materials (SMD). Its Contamination Control Solutions segment offers liquid filtration products, components and systems, chemical mechanical planarization products, and gas filtration products that purify, monitor, and deliver liquids and gases used in the semiconductor manufacturing process. Liquid processing occurs during multiple manufacturing steps including photolithography, deposition, planarization and surface etching and cleaning. It offers chemical delivery products, which include valves, fittings, tubing, pipe, chemical containers, custom fabricated products and associated connection systems for high-purity chemical applications. The company’s gas filtration product line includes filter housings and hybrid media chemical air filters which purify air entering tool enclosures and remove airborne molecular contaminants. For the fiscal year ended 2012, the Contamination Control Solutions segment generated segment profit of USD 116.36m, indicating a decrease of 17% as compared to 2011. This segment contributed 70% of total segment profit. Entegris’s Microenvironment products are sub-categories into wafer and reticle handling products, wafer shipping products and data storage products. Its wafer and reticle handling products hold and position wafers as they travel between each piece of equipment used in the automated semiconductor manufacturing process. The company offers shipping products that preserve the integrity of raw silicon wafers as they are transported from wafer manufacturers to semiconductor manufacturers or finished wafers shipped to back end processors. It provides products and solutions to manage two critical sectors in the data storage market, which include magnetic hard disk drives and optical hard disk. For the fiscal year ended 2012, the Microenvironment segment generated segment profit of USD 37.22m, indicating an increases of 24% as compared to 2011. This segment contributed 22% of total segment profit. The company’s Specialty Materials products are classified into two sub-categories such as, Poco Graphite Products and Specialty Coating Products. Its Poco Graphite products are made-up of specialized graphite or silicon carbide. Entegris offers variety of high-performance specialty coatings for critical components used in semiconductor and other high-technology manufacturing operations. For the fiscal year ended 2012, the Specialty Materials segment generated segment profit of USD 12.23m, indicating a decrease of 33% as compared to 2011. This segment contributed 8% of total segment profit. It has research and development and manufacturing facilities in the US; sales, research and development and manufacturing facilities in Japan, South Korea, Taiwan and Malaysia; and sales and service facilities in Europe and Asia.The company also maintains worldwide network of sales, service, repair or cleaning centers in the US, Germany, France, Israel, Japan, Malaysia, Taiwan, Singapore, China and South Korea. Entegris geographically operates in locations such as, Japan, Germany, Taiwan, Singapore, South Korea, China, the US and others. The net sales contributed by each location include 31% in North America, Japan 19%, Asia Pacific 38% and Europe contributes net sales of 12% in the year 2012. The company has manufacturing facility in 20,000 square feet of leased space in Hsinchu, Taiwan, which is used by its Contamination Control Solutions Division. It also provides lab services to customers in Taiwan and across Asia. The company serves its customers through research and development, customer service, analytical labs and manufacturing facilities in Asia-Pacific, North America, and Europe. Its customers include Samsung America Inc., ST Micro, Taiwan Semiconductor Manufacturing Co. Ltd. and UMC Group, OEM companies such as, ASML and Tokyo Electron and leading wafer growing companies such as, MEMC, Siltronic AG and SUMCO Oregon Corp.

 

Entegris, Inc. (Entegris) is a semiconductor and related equipment manufacturer. The company develops, manufactures, and supplies products and materials used in microelectronics and other high-technology industries. It designs, manufactures and markets its products through three business segments such as, Contamination Control Solutions, Microenvironments, and Specialty Materials. Entegirs offers products such as wafer shippers, wafer transport and process carriers, pods, and work-in-process boxes. The company provides various components for glass manufacturing, aerospace and biomedical applications. It also offers flat panel displays, high-purity chemicals, photoresists, solar cells, gas lasers, optical and magnetic storage devices, fiber optic cables and fuel cells. The company operates through its subsidiaries in the US, Japan, Delaware, the Netherlands, the UK, Israel, India, France, South Korea, China, Malaysia, Singapore, Taiwan and Germany. Entegris is headquartered in Billerica, Massachusetts, the US.The company reported revenues of (U.S. Dollars) USD 715.90 million during the fiscal year ended December 2012, a decrease of 4.45% from 2011. The operating profit of the company was USD 99.44 million during the fiscal year 2012, a decrease of 21.62% from 2011. The net profit of the company was USD 68.83 million during the fiscal year 2012, a decrease of 44.43% from 2011.

 

The global organization of Entegris serves its customers locally with products and services that purify protect and transport critical materials. As the leader in materials integrity management Entegris serves primarily the semiconductor industry with involvement in other high-technology industries such as data storage and fuel cell.

 

Entegris is one of the world's leaders in materials integrity management, which includes purifying, protecting and transporting critical materials used in high-tech products, processes and services. The company delivers technology, product and service solutions to the semiconductor and other high-tech industries. The company is ISO 9001 certified and has manufacturing, customer service or research facilities in the United States, China, France, Germany, Japan, Malaysia, Singapore, South Korea and Taiwan. Since 1966, Entegris has been recognized for its materials science and value-added engineering experience. The company has leveraged its leadership in materials integrity management to become a key strategic supplier to many dynamic markets, specifically semiconductor, data storage, life sciences and fuel cell. Entegris' products and services are used to protect and transport silicon wafers, devices, disks, read/write head trays, ultrapure or corrosive chemical, hydrogen sources, pharmaceuticals and electronic components. Founded in 1966, Entegris is headquartered in Chaska, Minn.

 

Product Codes

Product Code

Product Description

AUT-MH-PC

Bulk containers

MAN-EP-CZ

Wafer carriers

MAN-EP-CZ

LCD wafer carriers

MAN-EP-CZ

Microelectronics carriers

PHO-DI-A

Two-channel LED displays

SUB-CM-S

Fittings

SUB-ME-A

Chemical-handling pipes

SUB-ME-B

Needle valves

SUB-ME-B

Solenoid valves

TAM-CA-B

Pressure transducers

TAM-DE

Fluid level measurement equipment

TAM-ME-I

Loop-powered LCD devices

TAM-ME-MP

Pressure measuring equipment

TAM-PV-M

Flow controls

TAM-PV-P

Pressure controllers

 

 

 

Brand/Trade Names

Solopak - Containers

Ez Can Recycler - Trash compactors - household

Coolcase - Computers

Ez Bins - Containers

Ez Sort - Cabinets

Ez Tote - Tool boxes

Emtrak - Sporting goods

Capsil - Plastics

 

Financial Data

Financials in:

USD(mil)

 

Revenue:

715.9

Net Income:

68.8

Assets:

811.5

Long Term Debt:

0.0

 

Total Liabilities:

116.7

 

Working Capital:

0.4

 

 

 

Date of Financial Data:

31-Dec-2012

 

1 Year Growth

-4.5%

-44.4%

12.0%

 

Market Data

Quote Symbol:

ENTG

Exchange:

NASDAQ

Currency:

USD

Stock Price:

10.2

Stock Price Date:

09-27-2013

52 Week Price Change %:

22.9

Market Value (mil):

1,418,454.0

 

SEDOL:

2599700

ISIN:

US29362U1043

 

Equity and Dept Distribution:

Common Stock $.01 Par, 04/11, 400M auth., 134,347,103 o/s. Insiders control approx. 1.86%, Initial Public Offering 7/11/00, 13M shares (8.6M by the Company) @ $11 by Merrill Lynch & Co. FY end changed from 27 August 2005 to 31 December 2005.

 

Key Corporate Relationships

Auditor:

KPMG LLP

 

Auditor:

KPMG LLP

 

 

 

 

 

 

 

Additional Information

ABI Number:

501824965

 

 

 

 

 

 

 

Credit Report as of 03/01/2013

 

Location

129 Concord Rd
Billerica, MA 01821-4600
United States

 

County:

Middlesex

MSA:

Boston, MA

 

Phone:

978-436-6500

Fax:

978-436-6735

Toll Free:

800-394-4083

URL:

http://entegris.com

 

ABI©:

501824965

 

Annual Sales:

$749,259,000 (USD)

Employees:

2,700

 

Facility Size(ft2):

40,000+

 

Business Type:

Public

Location Type:

Headquarter

 

Ticker:

ENTG

Exchange:

NASDAQ

Primary Line of Business:

SIC:

3559-34 - Semiconductor Manufacturing Equip (Mfrs)

NAICS:

333298 - All Other Industrial Machinery Mfg

Secondary Lines of Business:

SICs:

2899-05 - Chemicals-Manufacturers

 

3089-03 - Closures-Industrial-Protective (Mfrs)

 

3498-98 - Fabricated Pipe & Pipe Fittings (Mfrs)

 

3825-98 - Instrs-Measuring/Testing Elec (Mfrs)

 

3841-04 - Physicians & Surgeons Equip & Supls-Mfrs

 

5063-49 - Semiconductor-Mfrs' Equip/Supls (Whls)

 

7218-05 - Clean Room Facilities

 

8742-13 - Marketing Programs & Services

NAICS:

334515 - Electricity & Signal Testing Instruments

 

326199 - All Other Plastics Prod Mfg

 

332996 - Fabricated Pipe & Pipe Fitting Mfg

 

812332 - Industrial Launderers

 

423610 - Electric Equip & Wiring Merchant Whols

 

339112 - Surgical & Medical Instrument Mfg

 

541613 - Marketing Consulting Svcs

 

325998 - Other Misc Chemical Prod Mfg

 

Corporate Family

Corporate Structure News:

 

Entegris Inc

Entegris Inc 
Total Corporate Family Members: 25 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

Entegris Inc

Parent

Billerica, MA

United States

Rubber and Plastic Product Manufacturing

715.9

2,700

Entegris Inc

Branch

Chaska, MN

United States

Residential and Commercial Building Construction

278.4

1,000

Poco Graphite Inc.

Subsidiary

Decatur, TX

United States

Electrical Equipment and Appliances Manufacturing

 

330

Poco Graphite SARL

Subsidiary

Limonest

France

Non-Metallic Mineral Product Manufacturing

8.4

14

Entegris Inc

Branch

Colorado Springs, CO

United States

Rubber and Plastic Product Manufacturing

50.1

200

Entegris Japan Holding K.K.

Subsidiary

Yamagata

Japan

Holding Companies

 

200

Entegris Singapore Pte. Ltd.

Subsidiary

Singapore

Singapore

Rubber and Plastic Product Manufacturing

 

100

Entegris SAS

Subsidiary

Moirans

France

Semiconductor and Other Electronic Component Manufacturing

5.3

80

Entegris Cleaning Process Sas

Subsidiary

Montpellier

France

Laundry Services

7.6

74

Entegris Inc

Branch

Minneapolis, MN

United States

Residential and Commercial Building Construction

13.9

50

Entegris Inc

Branch

Bedford, MA

United States

Machinery and Equipment Manufacturing

13.2

50

Entegris GmbH

Subsidiary

Dresden, Sachsen

Germany

Semiconductor and Other Electronic Component Manufacturing

60.3

48

Electrol Specialties, Inc.

Subsidiary

South Beloit, IL

United States

Metal Products Manufacturing

16.8

41

Entegris Inc

Branch

Burlington, MA

United States

Rubber and Plastic Product Manufacturing

7.9

30

Entegris Taiwan

Subsidiary

Taipei

Taiwan

Computer System Design Services

 

28

Entegris Inc

Branch

San Diego, CA

United States

Construction Machinery Manufacturing

8.9

19

Entegris Inc

Branch

Chaska, MN

United States

Residential and Commercial Building Construction

3.3

12

Entegris Inc

Branch

Austin, TX

United States

Residential and Commercial Building Construction

4.1

6

Jetalon Solutions Inc

Subsidiary

Pleasant Hill, CA

United States

Consulting Services

1.3

6

Entegris Inc

Branch

Phoenix, AZ

United States

Residential and Commercial Building Construction

0.7

1

Nihon Entegris K.K.

Subsidiary

Tokyo

Japan

Semiconductor and Other Electronic Component Manufacturing

 

 

Entegris International Holdings B.V.

Subsidiary

Rotterdam, Zuid-Holland

Netherlands

Electronics Wholesale

 

 

Entegris Malaysia Sdn. Bhd.

Subsidiary

Kulim, Kedah Darul Aman

Malaysia

Semiconductor and Other Electronic Component Manufacturing

 

 

Mykrolis Corp

Subsidiary

 

 

 

 

 

Entegris Inc

Subsidiary

Franklin, MA

United States

Residential and Commercial Building Construction

6.6

25

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

3M Co

St. Paul, Minnesota, United States

87,677

Public

Amtech Systems, Inc.

Tempe, Arizona, United States

350

Public

Dainichi Co., Ltd.

Niigata-Shi, Japan

454

Public

Donaldson Company, Inc.

Minneapolis, Minnesota, United States

12,400

Public

Flowserve Corporation

Irving, Texas, United States

17,000

Public

Gudeng Precision Industrial

New Taipei, Taiwan

379

Public

Illinois Tool Works Inc.

Glenview, Illinois, United States

60,000

Public

Mersen SA

Courbevoie, France

6,800

Public

Miraial Co., Ltd.

Toshima-Ku, Japan

557

Public

Mott Corp

Farmington, Connecticut, United States

180

Private

Pall Corporation

Port Washington, New York, United States

9,800

Public

PARKER CORPORATION

Chuo-Ku, Japan

1,279

Public

Parker-Hannifin Corporation

Cleveland, Ohio, United States

58,150

Public

Roper Industries, Inc.

Sarasota, Florida, United States

9,475

Public

Shin-Etsu Chemical Co Ltd

Chiyoda-Ku, Japan

17,712

Public

Shin-Etsu Polymer Co., Ltd.

Chiyoda-Ku, Japan

3,547

Public

Tokai Carbon Co Ltd

Minato-Ku, Japan

1,872

Public

TOYO TANSO CO., LTD.

Osaka-Shi, Japan

2,026

Public

 


EXECUTivE REPORT

 

Board of Directors

 

Name

Title

Function

 

Paul L. H. Olson

 

Independent Chairman of the Board

Chairman

 

Biography:

Mr. Paul L. H. Olson Ph.D., is Independent Chairman of the Board of Entegris Inc. He served as lead director of Entegris Minnesota and as Chairman of the Governance Committee of the Entegris Minnesota board of directors from March 2003 until the Merger with the Company and as a the Chairman of the Governance and Nominating Committee of the Company’s Board of Directors until 2011. Mr. Olson served as the Chief Executive Officer and a director of nuBridges, Inc., a software business headquartered in Atlanta, Georgia from 2008 until its merger with Liaison Technologies, Inc. in 2011; he continues to serve on the board of directors of Liaison Technologies, Inc., serving as chairman of its compensation committee and as a member of its audit committee. He served as Executive Vice President of Bethel University from 2002 to 2008. Prior to 2000, Mr. Olson was a founding executive of Sterling Commerce, Inc., an electronic commerce software company. Prior to his role with Sterling Commerce, he held executive positions with Sterling Software, Inc. and Michigan National Corp. Mr. Olson is a member of the board of directors of several private companies and non-profit organizations, including WMC Industries, Inc.(where he is lead director) and Macalester College (where he serves on the infrastructure and audit committees) ; Mr. Olson also serves as an advisor to Thoma Bravo Equity Partners. Mr. Olson holds a BA degree from Macalester College, an MBA from the University of St. Thomas and a doctorate degree from the University of Pennsylvania.

 

Age: 62

 

Education:

University of Pennsylvania, PHD 
University of St. Thomas, MBA 
Macalester College, BA 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Michael A. Bradley

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Michael A. Bradley is Independent Director of Entegris Inc. He served as a director of Mykrolis and as Chairman of the Audit & Finance Committee of the Mykrolis Board of Directors from 2001 until the Merger. Mr. Bradley has been a director of the Company since the Merger. He served as Chairman of the Audit & Finance Committee of the Company’s Board of Directors from the date of the Merger until June 14, 2006 and as a member of that committee until May 2008 when he joined the Management Development & Compensation Committee of the Company’s board of directors. Since 2004 he has been the Chief Executive Officer and a director of Teradyne, Inc., a global supplier of automatic test systems and equipment for semiconductor, military/aerospace, data storage and automotive applications. Prior to that he served as President of Teradyne, Inc. since May of 2003 and as President, Semiconductor Test Division of Teradyne since April of 2001. Mr. Bradley served as the Chief Financial Officer of Teradyne, Inc. from 1999 until 2001 and as a Vice President of Teradyne since 1992. Prior to that, Mr. Bradley held various finance, marketing, sales and management positions with Teradyne and worked in the audit practice group of the public accounting firm of Coopers and Lybrand. Mr. Bradley has served as a director of Avnet, Inc. (global distributor of electronic components and computer products) since November of 2012 and of the Massachusetts High Technology Council. He received his A.B. degree from Amherst College and an M.B.A. from the Harvard Business School.

 

Age: 64

 

Education:

Amherst College, AB 
Harvard University, MBA 

 

Marvin D. Burkett

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Marvin D. Burkett is Independent Director of Entegris Inc. He has served as the Chief Financial Officer and Chief Administrative Officer of Nvidia Corporation (high performance semiconductor based graphics products) from 2001 until his retirement in 2009. Mr. Burkett also served Advanced Micro Devices, Inc. (manufacturer of semiconductors) from 1972 until 1998, first as corporate controller and then as the Chief Financial Officer and Chief Administrative Officer. Prior to that he worked at the Semiconductor Division of Raytheon Company. Mr. Burkett served as a member of the board of directors and Chairman of the Audit Committee of Netlogic Microsystems, Inc. (design, development and sale of high speed integrated circuits for advanced mobile wireless applications) until early 2012 when that company was sold, of Intermolecular, Inc. (research and development for the semiconductor and clean energy industries) and of Audience, Inc. (advanced voice processors for mobile devices), since September 2010, where he serves as Chairman of the audit committee and as a member of the compensation committee. Mr. Burkett has also served as a member of the board of directors of each of the following private companies in the semiconductor industry: G2 Holdings Corporation, since January 2011, where he also serves as Chairman of the audit committee. Mr. Burkett holds a B.S. degree and an M.B.A. from the University of Arizona.

 

Age: 70

 

Education:

University of Arizona, MBA 
University of Arizona, BS 

 

R. Nicholas Burns

 

Independent Director

Director/Board Member

 

 

Biography:

Ambassador R. Nicholas Burns is Independent Director of Entegris Inc. He is currently a Professor of The Practice of Diplomacy and International Politics, Kennedy School, Harvard University. Ambassador Burns served in the United States Foreign Service for twenty-seven years until his retirement in April 2008. He served as Under Secretary of State for Political Affairs from 2005 to 2008. From 2001-2005 he was U.S. Ambassador to NATO. Prior to that from 1997 to 2001 he was U.S. Ambassador to Greece. He is Director of the Aspen Strategy Group, Senior Counselor at the Cohen Group and serves on the Advisory Board for Veracity Worldwide. He is on the Board of Directors of the Rockefeller Brothers Fund, The Atlantic Council and a number of other non-profit organizations.

 

Age: 57

 

Education:

Johns Hopkins University, MA (International Relations)
Boston College, BA (History)

 

Michael C Carns

 

Board Member

Director/Board Member

 

 

Biography:

Michael P. C. Carns served on the Mykrolis board of directors from 2001 until the time of the Entegris merger. He chaired the management development and compensation committee since 2004. Mr. Carns is a retired general after 35 years of service with the U.S. Air Force including service as vice chief of staff for the Air Force and as director of the Joint Staff of the Joint Chiefs of Staff. He is currently an independent business consultant after serving as president and executive director of the Center for International Political Economy.

 

Education:

Harvard University, masters (Business Administration)
U.S. Air Force Academy, BS 
U.S. Air Force Academy, member 

 

Daniel W. Christman

 

Independent Director

Director/Board Member

 

 

Biography:

General Daniel W. Christman is Independent Director of Entegris Inc. He served as a director of Mykrolis and as a member of the Audit & Finance Committee of the Mykrolis Board of Directors from 2001 until the Merger. From February of 2003 through 2004 he was designated as the Presiding Director of the Mykrolis Board of Directors. Since the Merger he served as a director of the Company and as a member of the Audit & Finance Committee until 2011; he served as Chairman of the Audit and Finance Committee from 2009 until 2011. In 2001 he retired in the grade of Lieutenant General after a career in the United States Army that spanned more than 36 years. Immediately prior to his retirement, General Christman served as the Superintendent of the United States Military Academy at West Point since 1996. From 1994 until 1996, General Christman served as Assistant to the Chairman of the Joint Chiefs of Staff of the United States. General Christman’s key command positions have also included the U.S. Army’s Engineer School in the early 1990’s, and the U.S. Army Corps of Engineer District in Savannah, Georgia. General Christman also served in President Ford’s administration as a member of the National Security Council staff, where he shared responsibility for strategic arms control. He currently serves as a director of Teradyne, Inc., a global supplier of automatic test systems and equipment for semiconductor, military/aerospace, data storage and automotive applications. General Christman is a graduate of the United States Military Academy at West Point, where he also was an Assistant Professor of Economics. General Christman holds an MPA degree in public affairs and an MSE degree in civil engineering from Princeton University and a Juris Doctor degree from The George Washington University Law School.

 

Age: 69

 

Education:

George Washington University, JD 
Princeton University, MS (Civil Engineering)
Princeton University, MPA (Public Affairs)

 

James E Dauwalter

 

Board Member

Director/Board Member

 

 

Biography:

James E. Dauwalter Director. Mr. Dauwalter has served as a director of the Company since July 31 2009. Mr. Dauwalter served as a director of VeraSun Energy Corporation from April 2008 to May 2009. He served as a director of US BioEnergy from July 2006 until April 2008 and served as chairman of the board from November 2007 until April 2008. Mr. Dauwalter also served from August 2005 until May 2008 as the chairman of the board of directors of Entegris Inc. a materials integrity management company. Prior to his appointment as chairman of Entegris in August 2005 he served as the chief executive officer of Entegris since January 2001. Mr. Dauwalter joined Entegris in 1972 and held a variety of positions prior to his first executive appointment in March 2000 as chief operating officer. Mr. Dauwalter was also instrumental in founding Metron Technology B.V. a supplier of semiconductor products in Europe and served on their board of directors from their date of formation until May 2008 and served on the boards of several subsidiaries and affiliates of Fluoroware Inc. a predecessor company to Entegris Inc. Mr. Dauwalter holds a bachelors degree in business management from Bemidji State University.

 

Roger D. McDaniel

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Roger D. McDaniel is Independent Director of Entegris Inc. He served as the independent Chairman of the Board of the Company from 2008 until 2011 and served as the Chairman of the Audit & Finance Committee of the Company’s Board of Directors from June 14, 2006 until May 6, 2009. Prior to the Merger, he served as a director of Entegris Minnesota and as a member of the Compensation and Stock Option and Audit Committees of the Entegris Minnesota Board of Directors from August 1999 until the Merger. Prior to that time, Mr. McDaniel was a director of Fluoroware, Inc. since August 1997. Mr. McDaniel, currently retired, was President and Chief Executive Officer of IPEC, Inc., a manufacturer of chemical-mechanical planarization (CMP) equipment for the semiconductor industry, from 1997 to 1999. From 1989 to August 1996, Mr. McDaniel was the Chief Executive Officer of MEMC Electronic Materials, Inc., a silicon wafer producer, and was also a director of MEMC from April 1989 to March 1997. Mr. McDaniel is a director of Veeco Instruments, Inc. (process equipment for the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips). He is also a past director and Chairman of the Semiconductor Equipment and Materials International (SEMI) organization.

 

Age: 74

 

Orporate G Overnance

 

Board Member

Director/Board Member

 

 

Biography:

At their first meeting following the Merger on August 10 2005 our Board of Directors adopted a code of business ethics The Entegris Code of Business Ethics applicable to all of our executives directors and employees as well as a set of corporate governance guidelines. The Entegris Code of Business Ethics the Governance Guidelines and the charters for our Audit & Finance Committee Governance & Nominating Committee and our Management Development & Compensation Committee all appear on our website at http://www.Entegris.com under Investor Relations-Governance. The Governance Guidelines and committee charters are also available in print to any shareholder that requests a copy. Copies may be obtained by contacting Peter W. Walcott our Senior Vice President Secretary and General Counsel through our corporate headquarters.

 

Brian F. Sullivan

 

Independent Director

Director/Board Member

 

 

Biography:

Mr. Brian F. Sullivan is Independent Director of Entegris Inc. He served as a director of Entegris Minnesota and as a member of its Compensation and Stock Option Committee from December 2003 until the Merger with the Company; and served as a member of the Management Development & Compensation Committee of the Company from the Merger until May 2008 at which time he joined the Audit & Finance Committee. Mr. Sullivan is currently Chairman and CEO of Celcuity LLC, a biotechnology company he co-founded in 2012. Mr. Sullivan was Chairman and CEO of SterilMed, Inc from 2002 until he retired from that company in 2011 in conjunction with its sale to Johnson & Johnson. Mr. Sullivan co-founded Recovery Engineering, Inc. in 1986, and was Chairman and Chief Executive Officer until it was sold in 1999 to Proctor & Gamble Co. Mr. Sullivan served as a member of the board of directors of Virtual Radiologic Corporation from 2008 until that company was sold in 2010, and serves as a director of several private companies and non-profit organizations. Mr. Sullivan holds an A.B. degree from Harvard University.

 

Age: 51

 

Education:

Harvard University, AB 

 

John D Villas

 

Board Member

Director/Board Member

 

 

Biography:

John Villas is Senior Vice President and Chief Financial Officer; Treasurer for Entegris the same position he served in with the company prior to its merger with Mykrolis. Villas joined Entegris in 1984 and previously held the controller corporate controller and financial vice president positions. He is a graduate of the University of Minnesota and is a member of the American Institute of CPAs and the Minnesota Society of CPAs.

 

 

 

 

Executives

 

Name

Title

Function

 

Bertrand Loy

 

President and Chief Executive Officer

Chief Executive Officer

 

Biography:

Mr. Bertrand Loy serves as President, Chief Executive Officer, Director of Entegris, Inc., since November 28, 2012. He has served as the company Chief Executive Officer since November 28, 2012 and as President and a director since November 1, 2012. Prior to his promotion, Mr. Loy served as the company Executive Vice President and Chief Operating Officer since 2008. From the effectiveness of the Merger until July 2008, he served as the company Executive Vice President and Chief Administrative Officer. He served as the Vice President and Chief Financial Officer of Mykrolis from January 2001 until the Merger. Prior to that, Mr. Loy served as the Chief Information Officer of Millipore Corporation from April 1999 until December 2000. From 1995 until 1999, he served as the Division Controller for Millipore’s Laboratory Water Division. From 1989 until 1995, Mr. Loy served Sandoz Pharmaceuticals (now Novartis) in a variety of financial, audit and controller positions located in Europe, Central America and Japan. Mr. Loy serves as a director of BTU International, Inc., (supplier of advanced thermal processing equipment) and of the Massachusetts High Technology Council.

 

Age: 47

 

Education:

Ecole Superieure des Sciences Economiques et Commerciales, M (Business Administration)

 

Compensation/Salary:$426,087

Compensation Currency: USD

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Todd Edlund

 

General Manager Contamination Control Solutions Division

Division Head Executive

 

 

Biography:

Todd Edlund has been Vice President and General Manager of our Contamination Control Solutions Division since December 2007. He served as the Vice President and General Manager of our Liquid Systems Business Unit from 2005 to 2007 and prior to that as Entegris Minnesotas Vice President of Sales for semiconductor markets from 2003 to 2005. Prior to 2003 Mr. Edlund held a variety of positions with our predecessor companies since 1995.

 

Age: 50

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Bill Shaner

General Manager Microenvironments

Division Head Executive

 

 

Biography:

William Shaner has been our Vice President and General Manager Microenvironments Division since 2007. He has served in a variety of sales marketing business development and engineering roles since joining Entegris in 1995.

 

Education:

Colorado State University, Bachelor (Industrial Engineering And Technology)
University of Colorado, MBA (Finance And Marketing)

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Corey Johnson

Operations Technology Manager

Operations Executive

 

 

Michael Bolko

Corporate Environmental Manager

Environment/Safety Executive

 

 

Eric Moschet

Director Ehs&S

Environment/Safety Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Mindy King

Communications Department-Administrative

Administration Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Linda Mercier

Retirement Plan Administrator

Administration Executive

 

 

Tracy Spaude

 

Information Technology Administrator

Administration Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Colleen Wanamaker

Office Manager

Administration Executive

 

 

Peter W. Walcott

Senior Vice President, General Counsel, Secretary

Company Secretary

 

 

Biography:

Mr. Peter W. Walcott is Senior Vice President, General Counsel, Secretary of Entegris, Inc. He served as the Vice President, Secretary and General Counsel of Mykrolis since October 2000. Mr. Walcott served as the Assistant General Counsel of Millipore Corporation from 1981 until March 2001.

 

Age: 66

 

Compensation/Salary:$287,836

Compensation Currency: USD

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Lori Cameron

Manager, Payroll & Financial Benefits

Finance Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Ann Fossell

Retirement Benefits Finance

Finance Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Gregory B. Graves

Chief Financial Officer, Executive Vice President, Treasurer

Finance Executive

 

 

Biography:

Mr. Gregory B. Graves serves as Executive Vice President, Chief Financial Officer, Treasurer of Entegris Inc. He has served as Executive Vice President and Chief Financial Officer since July 2008. Prior to that he served as Senior Vice President and Chief Financial Officer since April 2007. Prior to April 2007, he served as Senior Vice President, Strategic Planning & Business Development since the effectiveness of the merger with Mykrolis. Mr. Graves served as the Chief Business Development Officer of Entegris Minnesota since September 2002 and from September 2003 until August 2004 he also served as Senior Vice President of Finance. Prior to joining Entegris Minnesota, Mr. Graves held positions in investment banking and corporate development, including at U.S. Bancorp Piper Jaffray from June 1998 to August 2002 and at Dain Rauscher from October 1996 to May 1998. Mr. Graves was a director of Therma-Wave, Inc., a public company engaged in the production of process control metrology products from 2005 until it was acquired by KLA Tencor Corporation in mid-2007.

 

Age: 52

 

Education:

University of Virginia, MBA 
University of Alabama, M (Accounting)
University of Alabama, BS 

 

Compensation/Salary:$342,829

Compensation Currency: USD

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Rich Hegstrand

Director, Ccs Finance

Finance Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Mark Milbrandt

Sap Finance Business Analyst

Finance Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Lisa Brueggemeier

Consolidations Accountant

Accounting Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Jim Hunnicutt

Internal Audit Director

Accounting Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Liz Mccrea

Senior Accountant

Accounting Executive

 

 

Treven Morehouse

 

Senior Internal Auditor

Accounting Executive

 

 

Michael D Sauer

 

Chief Accounting Officer

Accounting Executive

 

 

Biography:

Mr. Sauer is the chief accounting officer, the controller and the vice president of the company since 2012. Prior to this, he served as the Corporate Controller since 2008. From the effectiveness of the merger with Mykrolis until April 2008, Mr. Sauer served as director of Treasury and Risk Management. Mr. Sauer joined Fluoroware, Inc., a predecessor to Entegris Minnesota in 1988 and held a variety of finance and accounting positions until 2001 when he became the director of Business Development for Entegris Minnesota, the successor to Fluoroware, serving in that position until the merger with Mykrolis.as

 

Age: 47

 

Pamela Giefer

 

Senior Tax Analyst

Corporate Tax Executive

 

 

Dave Van Sant

Manager, Tax

Corporate Tax Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Jim Geller

Vice President Human Resources

Human Resources Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Scott Ingerowski

Human Resources Manager

Human Resources Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Cindy Leeman

Human Resource Manager

Human Resources Executive

 

 

John J. Murphy

 

Senior Vice President - Human Resources

Human Resources Executive

 

 

Biography:

Mr. John J. Murphy serves as Senior Vice President - Human Resources of Entegris Inc. He served as the Senior Vice President Human Resources of HNTB, an engineering and architectural services firm, from February 2004 until October 2005 and as Corporate Vice President, Human Resources of Cadence Design Systems, Inc. from May of 2000 through October 2003. Prior to that Mr. Murphy held senior human resources positions with L.M. Ericsson Telephone Company and with General Electric Company.

 

Age: 60

 

Education:

Pennsylvania State University, bachelor's (Accounting)
University of Colorado, MBA 

 

Compensation/Salary:$258,622

Compensation Currency: USD

 

Sheryl Buesgens

Director Organizational Development and Training

Training Executive

 

 

John Bauchle

Global Customer Service Manager

Customer Service Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Tad Hauck

Global Customer Service Manager

Customer Service Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Vicky Mesenbring

Global Customer Service Manager

Customer Service Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Nancy Battcher

Sales Manager

Sales Executive

 

 

Eric Folkins

Director, Global Sales Support

International Sales Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Shad Haddox

Global Account Manager, Intel

International Sales Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Gregory C Morris

Vice President Global Sales

International Sales Executive

 

 

Biography:

Gregory C. Morris has been Vice President General Manager Global Field Operations since 2008. Prior to that time Mr. Morris was our North American Regional Sales Director since 2007 and the head of our Finished Electronics Products group from 2005 until 2007. Mr. Morris was President of the Entegris Minnesota Data Storage Business Unit from 2003-2005. From 2000 to 2003 Mr. Morris acted as General Manager of a wholly-owned subsidiary of Entegris Minnesota. Prior to 2000 Mr. Morris held a variety of positions with our predecessor companies since 1992.

 

Age: 55

 

Education:

Alfred University

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Erin Adkins

Global Marketing Manager

International Executive

 

 

Anna Anderson

Global Manager Corporate Communications

International Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Rick Defronzo

Import Export Compliance Manager

International Executive

 

 

Scott Moroney

 

Global Communications Manager

International Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Chintan Patel

Global Product, Market Manager Tehnology Development

International Executive

 

 

Greg Bores

Industrial Design Manager

Marketing Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

David Halbmaier

Marketing Manager

Marketing Executive

 

 

Richard Lindblom

Direct Marketing Manager

Marketing Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Walter Plante

Marketing Director For Liquid Microcontamination Control Business Unit

Marketing Executive

 

 

Joseph Smith

 

Marketing Executive

Marketing Executive

 

 

Education:

New Jersey Institute of Technology, BS (Mechanical Engineering)
Boston University, MS 

 

Steve Cantor

 

Director of Investor Relations

Investor Relations Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Ricky Blount

 

Network Engineering, Systems Manager

Information Executive

 

 

Joel Brohmer

Information Technology Systems Support

Information Executive

 

 

Brian Ellsworth

Programmer

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Julie Fahey

Information Technology Sap

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Mike Fazio

Information Technology Director

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Paul Girard

Manager Information Technology Development

Information Executive

 

 

Manny Gonzales

Technology Director

Information Executive

 

 

Christopher Harvey

Information Technology Manager

Information Executive

 

 

John Peters

Manager, Engineering Systems

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Janet Pink

Information Technology Project Manager

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Don Pmp

Director, Enterprise Business Systems

Information Executive

 

 

Tejaswi Rampure

Manager, Enterprise Business Systems

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Gerard Sigwanz

Network Engineer 3

Information Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Deeann Wood

Manager of Information Systems

Information Executive

 

 

Colleen Hartsoe

Web Designer

Network Management Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Murali Bandreddi

Manufacturing Engineering Manager

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Sanjiv Bhatt

Principal Engineer

Engineering/Technical Executive

 

 

Brent Bjorneberg

Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

John Burns

Director of Engineering

Engineering/Technical Executive

 

 

Mark Caulfield

Applications Engineering Manager

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Armindo Costa

Manufacturing Engineer

Engineering/Technical Executive

 

 

Mauro Dellemonache

 

Engineering/Technical

Engineering/Technical Executive

 

 

Julio Diaz

Manufacturing Engineer

Engineering/Technical Executive

 

 

Larry Dressen

Fuel Cell Program Engineer

Engineering/Technical Executive

 

 

Chuck Extrand

Principal Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Iraj Gashgaee

Engineering

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

John Gaudreau

Product Development Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Vinay Goel

Vice President, Ccs Technology

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

James Gosselin

 

Engineering/Technical

Engineering/Technical Executive

 

 

Jeff King

Mechanical Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

John Leys

Engineer

Engineering/Technical Executive

 

 

Bo Liu

Test Engineer

Engineering/Technical Executive

 

 

John Lystad

Mechanical Engineer

Engineering/Technical Executive

 

 

Thomas Mancino

Project Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Matt Nicholas

Packaging Engineer

Engineering/Technical Executive

 

 

Karl Niermeyer

Engineering/Technical

Engineering/Technical Executive

 

 

Chris Reddy

Director of Engineering

Engineering/Technical Executive

 

 

Clay Reed

Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Troy Scoggins

Technology and Development Director

Engineering/Technical Executive

 

 

Bala Sudalayandi

Manufacturing Engineer

Engineering/Technical Executive

 

 

Stephen Sumner

Director of Technology Development

Engineering/Technical Executive

 

 

Hugo Vargas

Project Manager-Design Engineering

Engineering/Technical Executive

 

 

Huaping Wang

Manager Technology Charac

Engineering/Technical Executive

 

 

Tom Whalen

Manufacturing Engineer

Engineering/Technical Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Paul White

Engineering/Technical

Engineering/Technical Executive

 

 

Garry Anderson

Product Marketing M

Product Management Executive

 

 

Poshin Lee

Director of Product Development

Product Management Executive

 

 

Gilbert Parry

Product Manager

Product Management Executive

 

 

Stenio Pereira

Product Marketing Manager

Product Management Executive

 

 

Tom Robb

New Product Development Group

Product Management Executive

 

 

Jitze Stienstra

Vice President

Product Management Executive

 

 

Helen Thuringer

Product Manager

Product Management Executive

 

 

Keith Midcap

Sap Business Analyst

Business Development Executive

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Stuart Tison

Vice President Business Development

Business Development Executive

 

 

Cheryl Triplett

Logistics Planning Analyst

Planning Executive

 

 

Teresa Defronzo

Compliance Manager

Legal Executive

 

 

Bernie Shambour

Manufacturing Manager

Manufacturing Executive

 

 

Dan Mcknight

Director of Logistics

Logistics Executive

 

 

Paul Sweeney

Senior Planner and Buyer

Merchandise Management Executive

 

 

Brian Waletski

Senior Buyer

Merchandise Management Executive

 

 

Greg Helgeson

 

Plant Manager

Facilities Executive

 

 

David Lambert

Material Manager Purchasing

Purchasing Executive

 

 

Frank Vullo

 

Procurement Manager

Purchasing Executive

 

 

Yassin Ahmed

Team Lead

Other

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Jean Fielding

Senior Manager

Other

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Timothy Gallagher

Contacttitle

Other

 

 

Dario Guerrero

Onsite Service Manager

Other

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Daryle Hillsgrove

Ehs Director

Other

 

 

Allen Judd

Director Ip

Other

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Gary F Klingl

Management Consultant

Other

 

 

Biography:

Gary F. Klingl was elected to the Entegris board of directors in September 2000. He is a seasoned senior executive with a wealth of experience in international manufacturing facilities and marketing including 35 years with Pillsbury. Mr. Klingl was president of the companys $1.3 billion Green Giant sales division as well as vice president of operations for Pillsbury and vice president and business unit manager for Green Giant. Klingl is currently a consultant with a variety of non-profit and profit organizations.

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Ben Lee

Vice President of Liquid Filtration Bu

Other

 

 

Jurgen Lobert

Director Analytical Services

Other

 

 

Social: http://www.linkedin.com/img/icon/icon_company_insider_in_12x12.gif

Paul Magoon

Director

Other

 

 

Joe Moriarty

Product Manager Me Business Unit

Other

 

 

Matt Moseman

 

Product Manager Me Business Unit

Other

 

 

Jean Marc Pandraud

 

Senior Advisor

Other

 

 

Biography:

Jean-Marc Pandraud is Entegris Executive Vice President and Chief Operating Officer. He served as president and chief operating officer for Mykrolis from January 2001 until the close of the merger with Entegris. He served as vice president and general manager of the Microelectronics Divisions of Millipore from 1999 until 2001 and before that was the companys vice president and general manager of the Laboratory Water Division from 1994 to 1999 and regional manager of Latin American operations from 1997 to 1999. Mr. Pandraud was managing director of Millipores French subsidiary and European general manager for the Millipore Analytical Division from 1988 to 1994. Mr. Pandraud holds a BS degree in Chemistry and Chemical Engineering as well as an advanced degree in Polymer Science from Insa de Lyon France. He is also a graduate of the Advanced Management Program at the Harvard Business School.

 

Dolan Rossi

Product Manager Microelectronics Business Unit

Other

 

 

Eric Sewell

 

Senior Vice President

Other

 

 

Education:

Georgia Institute of Technology, BS 
University of South Florida, MBA 

 

Wiley Wilkinson

Director Sensor Controls

Other

 

 

 

 

Significant Developments

 

Entegris Inc Partners with SEMATECH to Advance Surface Conditioning and Wafer Cleaning Technology for Semiconductor Device Manufacturing Sep 16, 2013

 

Entegris Inc and SEMATECH announced they have partnered to move forward the development of advanced nanoscale particle removal processes and cleaning technologies for wafers and devices. This collaboration will address some of the profound changes taking place in the semiconductor industry that are impacting fundamental aspects of process and equipment design-such as integration of new materials and process technology for sub-20 nm node manufacturing, lithography requirements and the progression to 450 mm wafers. One key issue relates to the preparation of critical surfaces through the entire semiconductor manufacturing process. Entegris will work with experts from SEMATECH`s Nanodefect Center to develop new technologies and solutions to reduce nano-scale particle contamination during wafer processing.

 

Entegris Inc Issues Q3 2013 Guidance Below Analysts' Estimates Jul 23, 2013

 

Entegris Inc announced that for third quarter of 2013, it expects sales to be approximately $165 million to $180 million, and earnings per share (EPS) to a range between $0.10 and $0.13 per share. On a non-GAAP basis, EPS is expected to range from $0.11 to $0.14 per share, which reflects net income on a non-GAAP basis in the range of $15 million to $20 million, which is adjusted for expected amortization expense of $2.4 million or $0.01 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $188 million and EPS of $0.15 and net income of $22 million for third quarter of 2013.

 

Entegris Inc Updates On Q2 2013 Revenue Guidance; Raises Q2 2013 EPS Guidance-Conference Call May 17, 2013

 

Entegris Inc announced that for the second quarter of 2013, it expects $170 million of revenue and a $0.11 to $0.13 EPS. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $170 million and EPS of $0.11 for the second quarter of 2013.

 

Entegris Inc Issues Q2 2013 Guidance Below Analysts' Estimates Apr 23, 2013

 

Entegris Inc announced that for the second quarter of 2013, it expects sales to be flat to up 5%sequentially, or approximately $165 million to $173 million, and EPS to range between $0.09 to $0.11 per share. On a non-GAAP basis, EPS is expected to range from $0.10 to $0.12 per share, which reflects net income on a non-GAAP basis in the range of $14 million to $17 million, which is adjusted for expected amortization expense of $2.6 million or $0.01 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $176 million, net income of $18 million and EPS of $0.13 for the second quarter of 2013.

 

Entegris Inc Issues Q1 2013 Guidance; Earnings Guidance Below Analysts' Estimates Jan 31, 2013

 

Entegris Inc announced that for the first quarter of 2013, it expects sales to be $160 million to $170 million and EPS to range between $0.07 and $0.10. On a non-GAAP basis, EPS is expected to range from $0.08 to $0.11, which reflects Non-GAAP net income in the range of $11 million to $15 million, adjusted for expected amortization expense of $2.3 million or $0.01 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $167 million, net income of $17 million and EPS of $0.12 for the first quarter of 2013.

 

Entegris Inc Announces Management Change-Form 8-K Oct 24, 2012

 

Entegris Inc reported in its Form 8-K that on October 22, 2012, the registrant's Board of Directors (Board) accepted the resignation of Gideon Argov as President, effective October 31, 2012, and as Chief Executive Officer (CEO) and Director, effective November 27, 2012. On October 22, 2012, the Board also elected Bertrand Loy as President and a Director of the registrant, effective November 1, 2012, and as Chief Executive Officer (CEO) to succeed Mr. Argov effective November 28, 2012.

 

Entegris Inc Issues Q4 2012 Guidance Below Analysts' Estimates Oct 24, 2012

 

Entegris, Inc. announced that for the fourth quarter of 2012, it expects revenue of $160 to $170 million and EPS to range between $0.09 and $0.11. On a non-GAAP basis, EPS is expected to range from $0.10 to $0.12, which reflects net income adjusted for expected amortization expense of $2.3 million or $0.01 per share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $177 million and EPS of $0.13 for the fourth quarter of 2012.

 

 

Annual Income Statement

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)         

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

UpdateType/Date

Updated Normal
31-Dec-2012

Updated Normal
31-Dec-2011

Updated Normal
31-Dec-2010

Updated Normal
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Net Sales

715.9

749.3

688.4

398.6

554.7

Revenue

715.9

749.3

688.4

398.6

554.7

Total Revenue

715.9

749.3

688.4

398.6

554.7

 

 

 

 

 

 

    Cost of Revenue

408.5

423.3

377.8

260.8

343.2

Cost of Revenue, Total

408.5

423.3

377.8

260.8

343.2

Gross Profit

307.4

325.9

310.6

137.8

211.5

 

 

 

 

 

 

    Selling/General/Administrative Expense

147.4

140.8

147.1

117.0

147.5

Total Selling/General/Administrative Expenses

147.4

140.8

147.1

117.0

147.5

Research & Development

50.9

48.0

43.9

35.0

40.1

    Amortization of Intangibles

9.6

10.2

13.2

19.2

19.6

Depreciation/Amortization

9.6

10.2

13.2

19.2

19.6

    Restructuring Charge

-

0.0

0.0

15.5

10.4

    Impairment-Assets Held for Use

-

-

0.0

0.0

473.8

Unusual Expense (Income)

-

0.0

0.0

15.5

484.2

Total Operating Expense

616.5

622.4

582.0

447.6

1,034.6

 

 

 

 

 

 

Operating Income

99.4

126.9

106.4

-48.9

-479.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.3

-0.9

-3.6

-9.4

-2.8

    Interest Expense, Net Non-Operating

-0.3

-0.9

-3.6

-9.4

-2.8

        Interest Income - Non-Operating

0.3

0.2

0.1

0.2

1.8

        Investment Income - Non-Operating

-

-

-1.4

-2.3

-15.5

    Interest/Investment Income - Non-Operating

0.3

0.2

-1.4

-2.1

-13.7

Interest Income (Expense) - Net Non-Operating Total

0.0

-0.7

-5.0

-11.5

-16.6

    Other Non-Operating Income (Expense)

0.2

1.7

0.0

0.5

0.1

Other, Net

0.2

1.7

0.0

0.5

0.1

Income Before Tax

99.7

128.0

101.5

-59.9

-496.4

 

 

 

 

 

 

Total Income Tax

30.9

4.2

15.0

-3.0

19.2

Income After Tax

68.8

123.7

86.5

-56.9

-515.6

 

 

 

 

 

 

    Minority Interest

0.0

-0.4

-0.8

0.0

0.0

    Equity In Affiliates

0.0

0.5

-1.4

-0.9

-0.3

Net Income Before Extraord Items

68.8

123.8

84.4

-57.7

-515.9

    Discontinued Operations

-

-

0.0

0.0

-1.1

Total Extraord Items

-

-

0.0

0.0

-1.1

Net Income

68.8

123.8

84.4

-57.7

-517.0

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

68.8

123.8

84.4

-57.7

-515.9

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

68.8

123.8

84.4

-57.7

-517.0

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

137.3

134.7

131.7

117.3

112.7

Basic EPS Excl Extraord Items

0.50

0.92

0.64

-0.49

-4.58

Basic/Primary EPS Incl Extraord Items

0.50

0.92

0.64

-0.49

-4.59

Dilution Adjustment

-

-

-

0.0

0.0

Diluted Net Income

68.8

123.8

84.4

-57.7

-517.0

Diluted Weighted Average Shares

138.4

136.2

133.2

117.3

112.7

Diluted EPS Excl Extraord Items

0.50

0.91

0.63

-0.49

-4.58

Diluted EPS Incl Extraord Items

0.50

0.91

0.63

-0.49

-4.59

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Interest Expense, Supplemental

0.3

0.9

3.6

9.4

2.8

Depreciation, Supplemental

28.0

26.8

28.0

30.9

26.8

Total Special Items

0.0

-0.7

0.0

15.5

484.2

Normalized Income Before Tax

99.7

127.2

101.5

-44.4

-12.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

5.4

169.5

Inc Tax Ex Impact of Sp Items

30.9

4.2

15.0

2.4

188.7

Normalized Income After Tax

68.8

123.0

86.5

-46.8

-200.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

68.8

123.1

84.4

-47.7

-201.2

 

 

 

 

 

 

Basic Normalized EPS

0.50

0.91

0.64

-0.41

-1.79

Diluted Normalized EPS

0.50

0.90

0.63

-0.41

-1.79

Amort of Intangibles, Supplemental

9.6

10.2

13.2

19.2

19.6

Rental Expenses

9.4

10.6

11.9

15.0

12.3

Research & Development Exp, Supplemental

50.9

48.0

43.9

35.0

40.1

Normalized EBIT

99.4

126.2

106.4

-33.5

4.3

Normalized EBITDA

137.1

163.2

147.6

16.7

50.7

    Current Tax - Domestic

5.8

2.4

2.6

-1.1

-0.1

    Current Tax - Foreign

11.2

17.8

15.3

-0.4

4.3

    Current Tax - Local

0.7

1.3

0.7

0.1

-0.6

Current Tax - Total

17.6

21.5

18.5

-1.3

3.6

    Deferred Tax - Domestic

11.2

-19.9

0.0

0.0

11.1

    Deferred Tax - Foreign

1.9

3.2

-3.5

-1.7

6.4

    Deferred Tax - Local

0.2

-0.6

0.0

0.0

-1.9

Deferred Tax - Total

13.2

-17.3

-3.5

-1.7

15.7

Income Tax - Total

30.9

4.2

15.0

-3.0

19.2

Interest Cost - Foreign

0.2

0.3

0.3

0.4

0.3

Service Cost - Foreign

0.1

1.3

1.7

1.5

1.4

Prior Service Cost - Foreign

0.0

0.1

0.2

0.2

0.1

Expected Return on Assets - Foreign

0.0

-0.1

-0.1

-0.1

-0.1

Actuarial Gains and Losses - Foreign

0.0

0.1

0.2

0.2

0.1

Curtailments & Settlements - Foreign

0.0

-0.7

0.0

-0.1

0.0

Transition Costs - Foreign

0.0

0.0

0.0

0.0

0.0

Other Pension, Net - Foreign

0.0

0.0

0.0

0.0

-

Foreign Pension Plan Expense

0.3

1.0

2.3

2.1

1.9

Defined Contribution Expense - Domestic

3.0

3.2

2.5

0.4

3.0

Total Pension Expense

3.3

4.2

4.8

2.5

4.9

Discount Rate - Foreign

1.80%

1.38%

1.36%

1.74%

1.77%

Expected Rate of Return - Foreign

2.84%

5.14%

5.26%

6.38%

6.55%

Compensation Rate - Foreign

1.14%

1.52%

1.53%

1.49%

1.58%

Total Plan Interest Cost

0.2

0.3

0.3

0.4

0.3

Total Plan Service Cost

0.1

1.3

1.7

1.5

1.4

Total Plan Expected Return

0.0

-0.1

-0.1

-0.1

-0.1

Total Plan Other Expense

0.0

0.0

0.0

0.0

-

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Cash & Equivalents

330.4

273.6

134.0

68.7

115.0

    Short Term Investments

20.0

-

-

-

-

Cash and Short Term Investments

350.4

273.6

134.0

68.7

115.0

        Accounts Receivable - Trade, Gross

86.7

95.9

107.8

82.9

59.3

        Provision for Doubtful Accounts

-2.3

-1.0

-1.1

-1.7

-1.3

    Trade Accounts Receivable - Net

84.4

94.9

106.7

81.2

58.0

    Notes Receivable - Short Term

9.6

12.4

18.0

9.9

12.5

Total Receivables, Net

94.0

107.2

124.7

91.1

70.5

    Inventories - Finished Goods

60.7

54.7

60.5

50.5

60.0

    Inventories - Work In Progress

10.2

12.3

13.4

11.1

16.5

    Inventories - Raw Materials

28.2

27.0

27.2

21.6

25.7

Total Inventory

99.1

93.9

101.0

83.2

102.2

    Deferred Income Tax - Current Asset

20.2

15.8

11.5

11.1

14.7

    Discontinued Operations - Current Asset

6.0

6.0

8.2

6.0

2.5

    Other Current Assets

9.6

6.4

7.7

7.3

8.3

Other Current Assets, Total

35.8

28.2

27.4

24.4

25.4

Total Current Assets

579.3

503.0

387.1

267.5

313.1

 

 

 

 

 

 

        Buildings

85.2

75.6

73.8

70.1

79.0

        Land/Improvements

11.1

11.5

11.2

10.7

12.6

        Machinery/Equipment

297.5

282.1

261.4

250.2

276.7

        Construction in Progress

26.6

-

-

-

-

    Property/Plant/Equipment - Gross

420.3

369.2

346.4

331.0

368.3

    Accumulated Depreciation

-263.3

-238.7

-219.7

-195.6

-208.5

Property/Plant/Equipment - Net

157.0

130.6

126.7

135.4

159.7

    Intangibles - Gross

166.4

166.5

173.9

174.1

171.4

    Accumulated Intangible Amortization

-119.2

-110.0

-108.9

-95.6

-78.3

Intangibles, Net

47.2

56.5

65.1

78.5

93.1

    LT Investments - Other

-

3.8

7.0

7.0

14.0

Long Term Investments

-

3.8

7.0

7.0

14.0

    Deferred Income Tax - Long Term Asset

17.2

25.1

10.9

9.7

13.3

    Other Long Term Assets

10.8

5.7

4.6

6.6

4.5

Other Long Term Assets, Total

28.0

30.8

15.5

16.3

17.8

Total Assets

811.5

724.7

601.4

504.7

597.8

 

 

 

 

 

 

Accounts Payable

36.3

30.6

34.6

23.6

21.8

Accrued Expenses

51.3

47.8

59.5

27.3

36.1

Notes Payable/Short Term Debt

0.0

0.0

0.0

8.0

0.0

Current Portion - Long Term Debt/Capital Leases

-

-

0.0

11.3

13.2

    Income Taxes Payable

5.7

14.1

13.5

3.8

8.3

Other Current liabilities, Total

5.7

14.1

13.5

3.8

8.3

Total Current Liabilities

93.3

92.6

107.6

73.9

79.4

 

 

 

 

 

 

    Long Term Debt

0.0

-

0.0

52.5

150.5

Total Long Term Debt

0.0

0.0

0.0

52.5

150.5

Total Debt

0.0

0.0

0.0

71.8

163.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

6.4

4.0

5.0

6.6

7.2

Deferred Income Tax

6.4

4.0

5.0

6.6

7.2

Minority Interest

-

0.0

4.4

3.5

0.0

    Pension Benefits - Underfunded

17.1

19.9

24.8

22.1

24.6

Other Liabilities, Total

17.1

19.9

24.8

22.1

24.6

Total Liabilities

116.7

116.4

141.8

158.5

261.7

 

 

 

 

 

 

    Common Stock

1.4

1.4

1.3

1.3

1.1

Common Stock

1.4

1.4

1.3

1.3

1.1

Additional Paid-In Capital

809.5

788.7

765.9

751.4

685.0

Retained Earnings (Accumulated Deficit)

-157.0

-225.8

-349.6

-434.0

-376.2

    Other Comprehensive Income

40.9

44.0

42.0

27.5

26.3

Other Equity, Total

40.9

44.0

42.0

27.5

26.3

Total Equity

694.8

608.2

459.6

346.2

336.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

811.5

724.7

601.4

504.7

597.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

138.5

135.8

132.9

130.0

113.1

Total Common Shares Outstanding

138.5

135.8

132.9

130.0

113.1

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

2,700

2,600

2,600

2,400

2,829

Number of Common Shareholders

1,339

1,369

1,371

1,380

1,320

Accumulated Intangible Amort, Suppl.

119.2

110.0

108.9

95.6

78.3

Total Long Term Debt, Supplemental

-

-

-

63.7

163.7

Long Term Debt Maturing within 1 Year

-

-

-

11.3

13.2

Long Term Debt Maturing in Year 2

-

-

-

52.5

11.5

Long Term Debt Maturing in Year 3

-

-

-

0.0

0.0

Long Term Debt Maturing in Year 4

-

-

-

0.0

0.0

Long Term Debt Maturing in Year 5

-

-

-

0.0

139.0

Long Term Debt Maturing in 2-3 Years

-

-

-

52.5

11.5

Long Term Debt Maturing in 4-5 Years

-

-

-

0.0

139.0

Long Term Debt Matur. in Year 6 & Beyond

-

-

-

0.0

0.0

Total Operating Leases, Supplemental

25.8

15.6

15.8

18.1

26.3

Operating Lease Payments Due in Year 1

8.3

6.7

5.9

7.5

8.6

Operating Lease Payments Due in Year 2

4.4

5.3

4.9

4.0

6.5

Operating Lease Payments Due in Year 3

4.1

2.2

3.6

3.3

3.4

Operating Lease Payments Due in Year 4

3.2

0.9

1.2

2.7

3.0

Operating Lease Payments Due in Year 5

2.6

0.5

0.2

0.7

2.8

Operating Lease Pymts. Due in 2-3 Years

8.4

7.5

8.5

7.3

9.9

Operating Lease Pymts. Due in 4-5 Years

5.8

1.4

1.4

3.3

5.8

Oper. Lse. Pymts. Due in Year 6 & Beyond

3.3

0.0

0.0

0.0

2.1

Pension Obligation - Foreign

12.6

16.4

26.5

21.8

22.2

Plan Assets - Foreign

0.4

0.4

6.0

4.7

4.7

Funded Status - Foreign

-12.2

-16.0

-20.5

-17.1

-17.5

Accumulated Obligation - Foreign

11.3

15.3

23.1

19.1

20.2

Total Funded Status

-12.2

-16.0

-20.5

-17.1

-17.5

Discount Rate - Foreign

1.19%

1.40%

1.29%

1.40%

1.66%

Compensation Rate - Foreign

4.18%

4.22%

5.23%

5.21%

6.56%

Intangible Assets - Foreign

12.2

16.0

20.2

17.1

17.5

Accrued Liabilities - Foreign

-

0.0

-0.2

0.0

-

Other Assets, Net - Foreign

1.1

0.8

3.2

2.3

2.0

Net Assets Recognized on Balance Sheet

13.3

16.8

23.1

19.4

19.5

Equity % - Foreign

-

51.00%

51.00%

52.00%

45.00%

Debt Securities % - Foreign

-

39.00%

39.00%

44.00%

40.00%

Other Investments % - Foreign

-

10.00%

10.00%

4.00%

15.00%

Total Plan Obligations

12.6

16.4

26.5

21.8

22.2

Total Plan Assets

0.4

0.4

6.0

4.7

4.7

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

Net Income/Starting Line

68.8

124.2

85.1

-57.8

-517.0

    Depreciation

28.0

26.8

28.0

30.9

26.8

Depreciation/Depletion

28.0

26.8

28.0

30.9

26.8

    Amortization of Intangibles

9.6

10.2

13.2

19.2

19.6

Amortization

9.6

10.2

13.2

19.2

19.6

Deferred Taxes

11.9

-19.4

-3.0

-1.7

15.7

    Discontinued Operations

-

-

-

0.0

-0.8

    Unusual Items

0.0

0.0

2.2

2.2

486.8

    Equity in Net Earnings (Loss)

-

-

-

0.9

0.3

    Other Non-Cash Items

11.8

8.1

8.1

19.8

21.2

Non-Cash Items

11.8

8.1

10.3

22.8

507.6

    Accounts Receivable

10.6

19.3

-26.8

-19.2

53.4

    Inventories

-6.1

3.6

-14.3

10.7

1.9

    Other Assets

-3.0

1.3

-0.3

1.7

1.2

    Payable/Accrued

6.3

-15.1

34.9

-1.6

-35.5

    Taxes Payable

-11.0

-0.4

13.2

0.5

-18.9

    Other Operating Cash Flow

-11.8

-1.4

0.5

-1.4

9.7

Changes in Working Capital

-15.0

7.3

7.3

-9.3

11.8

Cash from Operating Activities

115.2

157.3

140.9

4.2

64.4

 

 

 

 

 

 

    Purchase of Fixed Assets

-49.9

-30.3

-16.8

-13.2

-27.0

Capital Expenditures

-49.9

-30.3

-16.8

-13.2

-27.0

    Acquisition of Business

-

-

-

0.5

-162.9

    Sale of Fixed Assets

-

-

-

2.3

-

    Sale/Maturity of Investment

8.0

2.0

0.0

0.0

0.0

    Purchase of Investments

-28.0

-2.0

0.0

0.0

-11.0

    Other Investing Cash Flow

-2.5

1.9

4.8

0.5

1.6

Other Investing Cash Flow Items, Total

-22.5

1.8

4.8

3.3

-172.2

Cash from Investing Activities

-72.5

-28.4

-12.0

-9.8

-199.2

 

 

 

 

 

 

    Other Financing Cash Flow

3.5

-0.8

0.0

-3.6

-0.6

Financing Cash Flow Items

3.5

-0.8

0.0

-3.6

-0.6

        Sale/Issuance of Common

7.4

11.7

6.8

57.9

3.1

        Repurchase/Retirement of Common

-

-

-

0.0

-28.9

    Common Stock, Net

7.4

11.7

6.8

57.9

-25.8

Issuance (Retirement) of Stock, Net

7.4

11.7

6.8

57.9

-25.8

        Long Term Debt Issued

0.0

0.0

186.6

704.7

173.8

        Long Term Debt Reduction

0.0

0.0

-259.2

-799.6

-64.7

    Long Term Debt, Net

0.0

0.0

-72.5

-95.0

109.1

Issuance (Retirement) of Debt, Net

0.0

0.0

-72.5

-95.0

109.1

Cash from Financing Activities

10.9

10.9

-65.7

-40.7

82.7

 

 

 

 

 

 

Foreign Exchange Effects

3.2

-0.1

2.1

0.0

6.5

Net Change in Cash

56.8

139.6

65.3

-46.3

-45.6

 

 

 

 

 

 

Net Cash - Beginning Balance

273.6

134.0

68.7

115.0

160.7

Net Cash - Ending Balance

330.4

273.6

134.0

68.7

115.0

Cash Interest Paid

0.3

0.2

-

7.5

2.8

Cash Taxes Paid

29.7

22.0

-

-2.8

23.3

 

 

Annual Income Statement

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)         

 

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Net sales

715.9

749.3

688.4

398.6

554.7

Total Revenue

715.9

749.3

688.4

398.6

554.7

 

 

 

 

 

 

    Cost of sales

408.5

423.3

377.8

260.8

343.2

    Selling, general and administrative expe

147.4

140.8

147.1

117.0

147.5

    Engineering, research and development ex

50.9

48.0

43.9

35.0

40.1

    Amortization of intangible assets

9.6

10.2

13.2

19.2

19.6

    Impairment of goodwill

-

-

0.0

0.0

473.8

    Restructuring Charges(1)

-

0.0

0.0

15.5

10.4

Total Operating Expense

616.5

622.4

582.0

447.6

1,034.6

 

 

 

 

 

 

    Interest Income

0.3

0.2

0.1

0.2

1.8

    Interest Expense

-0.3

-0.9

-3.6

-9.4

-2.8

    Foreign Currency Reimbursements

-

-

-2.3

-1.3

-4.4

    Sale of Equity Investments

-

-

0.9

0.0

0.0

    Impairment Loss on Equity Investments

-

-

0.0

-1.0

-11.1

    Other income, net

0.2

1.7

0.0

0.5

0.1

Net Income Before Taxes

99.7

128.0

101.5

-59.9

-496.4

 

 

 

 

 

 

Income tax expense

30.9

4.2

15.0

-3.0

19.2

Net Income After Taxes

68.8

123.7

86.5

-56.9

-515.6

 

 

 

 

 

 

    Minority Interests

0.0

-

-

-

-

    net income attributable to the noncontro

0.0

-0.4

-0.8

0.0

0.0

    Equity in net income of affiliates

0.0

0.5

-1.4

-0.9

-0.3

Net Income Before Extra. Items

68.8

123.8

84.4

-57.7

-515.9

    Discontinued operations

-

-

-

-

0.0

    Loss from operations of discontinued bus

-

-

0.0

0.0

-1.1

    Impairment loss on assets of discontinue

-

-

-

0.0

0.0

Net income

68.8

123.8

84.4

-57.7

-517.0

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

68.8

123.8

84.4

-57.7

-515.9

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

68.8

123.8

84.4

-57.7

-517.0

 

 

 

 

 

 

Basic

137.3

134.7

131.7

117.3

112.7

Basic EPS Excluding ExtraOrdinary Items

0.50

0.92

0.64

-0.49

-4.58

Basic EPS Including ExtraOrdinary Items

0.50

0.92

0.64

-0.49

-4.59

Dilution Adjustment

-

-

-

0.0

0.0

Diluted Net Income

68.8

123.8

84.4

-57.7

-517.0

Diluted

138.4

136.2

133.2

117.3

112.7

Diluted EPS Excluding ExtraOrd Items

0.50

0.91

0.63

-0.49

-4.58

Diluted EPS Including ExtraOrd Items

0.50

0.91

0.63

-0.49

-4.59

DPS-Ordinary Shares

0.00

0.00

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Taxes

99.7

127.2

101.5

-44.4

-12.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

30.9

4.2

15.0

2.4

188.7

Normalized Income After Taxes

68.8

123.0

86.5

-46.8

-200.9

 

 

 

 

 

 

Normalized Inc. Avail to Com.

68.8

123.1

84.4

-47.7

-201.2

 

 

 

 

 

 

Basic Normalized EPS

0.50

0.91

0.64

-0.41

-1.79

Diluted Normalized EPS

0.50

0.90

0.63

-0.41

-1.79

Engineering, research and development ex

50.9

48.0

43.9

35.0

40.1

Interest Expense

0.3

0.9

3.6

9.4

2.8

BC - Depreciation of Intangible Assets

9.6

-

-

-

-

Amort of Intangibles

-

10.2

13.2

19.2

19.6

Depreciation

28.0

26.8

28.0

30.9

26.8

Rental Expense

9.4

10.6

11.9

15.0

12.3

    Federal

5.8

2.4

2.6

-1.1

-0.1

    State

0.7

1.3

0.7

0.1

-0.6

    Foreign

11.2

17.8

15.3

-0.4

4.3

Current Tax - Total

17.6

21.5

18.5

-1.3

3.6

    Federal

11.2

-19.9

0.0

0.0

11.1

    State

0.2

-0.6

0.0

0.0

-1.9

    Foreign

1.9

3.2

-3.5

-1.7

6.4

Deferred Tax - Total

13.2

-17.3

-3.5

-1.7

15.7

Income Tax - Total

30.9

4.2

15.0

-3.0

19.2

Service Cost - Japan

0.1

1.3

1.7

1.5

1.4

Interest Cost - Japan

0.2

0.3

0.3

0.4

0.3

Expected Return on Assets - Japan

0.0

-0.1

-0.1

-0.1

-0.1

Amort. of Prior Service Cost - Japan

0.0

0.1

0.2

0.2

0.1

Amort. of Transition Oblig. - Japan

0.0

0.0

0.0

0.0

0.0

Amortization of plan loss

0.0

0.0

0.2

0.2

0.1

Actuarial Gains and Losses - Foreign

0.0

0.0

0.0

0.0

-

Acquisition

0.0

0.0

0.0

0.0

-

Curtailments

0.0

-0.7

0.0

-0.1

0.0

Foreign Pension Plan Expense

0.3

1.0

2.3

2.1

1.9

401(k) Savings & Profit Sharing Plan

3.0

3.2

2.5

0.4

3.0

Total Pension Expense

3.3

4.2

4.8

2.5

4.9

Discount Rate - Japan

1.80%

1.38%

1.36%

1.74%

1.77%

Expected Rate of Return - Japan

2.84%

5.14%

5.26%

6.38%

6.55%

Compensation Rate - Japan

1.14%

1.52%

1.53%

1.49%

1.58%

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

UpdateType/Date

Updated Normal 
31-Dec-2012

Updated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2009

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

    Cash and cash equivalents

330.4

273.6

134.0

68.7

115.0

    Short-term investments

20.0

-

-

-

-

    Accounts Receivable

86.7

95.9

107.8

82.9

59.3

    Notes Receivable

9.6

12.4

18.0

9.9

12.5

    Doubtful Accounts

-2.3

-1.0

-1.1

-1.7

-1.3

    Raw Materials

27.7

26.4

26.6

21.0

24.9

    Work in Progress

10.2

12.3

13.4

11.1

16.5

    Finished Goods

60.7

54.7

60.5

50.5

60.0

    Supplies

0.5

0.6

0.7

0.6

0.8

    Deferred tax assets, deferred tax charge

20.2

15.8

11.5

11.1

14.7

    Assets Held for Sale

6.0

6.0

8.2

6.0

2.5

    Other current assets

9.6

6.4

7.7

7.3

8.3

Total current assets

579.3

503.0

387.1

267.5

313.1

 

 

 

 

 

 

    Land

11.1

11.5

11.2

10.7

12.6

    Building/Improvment

85.2

75.6

73.8

70.1

79.0

    Manufacturing Equipment

151.6

148.5

135.6

132.3

138.5

    Molds

80.0

72.5

68.9

62.8

82.1

    Office Furniture/Equipment

66.0

61.1

56.9

55.1

56.1

    Depreciation

-263.3

-238.7

-219.7

-195.6

-208.5

    Investments

-

3.8

7.0

7.0

14.0

    Patents

19.1

19.0

19.1

19.0

17.9

    Developed Technology

76.4

76.6

75.0

75.0

75.0

    Trademarks and Trade Names

12.7

12.6

17.3

17.2

15.5

    Customer Relationships

56.7

56.6

56.6

56.9

55.4

    Employment and Noncompete Agreements

1.5

1.6

1.7

1.7

3.5

    Other

-

-

4.3

4.3

4.2

    Amortization

-119.2

-110.0

-108.9

-95.6

-78.3

    Deferred tax assets and other noncurrent

17.2

25.1

10.9

9.7

13.3

    Other assets

10.8

5.7

4.6

6.6

4.5

    Construction in Progress, Gross

26.6

-

-

-

-

Total Assets

811.5

724.7

601.4

504.7

597.8

 

 

 

 

 

 

    Current Portion of Debt

-

-

0.0

11.3

13.2

    Short-term borrowings

-

-

0.0

8.0

0.0

    Accounts Payable

36.3

30.6

34.6

23.6

21.8

    Accrued payroll and related benefits

29.4

30.9

41.4

14.0

19.6

    Accrued Employee Benefits

-

-

-

2.1

1.9

    Accrued Taxes

-

-

-

2.5

0.8

    Accrued Interest

-

-

-

0.2

0.1

    Accrued Warranty

-

-

-

0.9

1.1

    Other accrued liabilities

21.9

17.0

18.1

10.1

13.5

    Deferred tax liabilities and income taxe

5.7

14.1

13.5

1.2

7.4

Total Current Liabilities

93.3

92.6

107.6

73.9

79.4

 

 

 

 

 

 

    Commitments and contingent liabilities

0.0

-

0.0

52.5

150.5

Total Long Term Debt

0.0

-

0.0

52.5

150.5

 

 

 

 

 

 

    Pension benefit obligations and other li

17.1

19.9

24.8

22.1

24.6

    Deferred tax liabilities and other noncu

6.4

4.0

5.0

6.6

7.2

    Minority Interest

-

0.0

4.4

3.5

0.0

Total Liabilities

116.7

116.4

141.8

158.5

261.7

 

 

 

 

 

 

    Common stock

1.4

1.4

1.3

1.3

1.1

    Additional paid-in capital

809.5

788.7

765.9

751.4

685.0

    Retained deficit

-157.0

-225.8

-349.6

-434.0

-376.2

    Accumulated other comprehensive income

40.9

44.0

42.0

27.5

26.3

Total Equity

694.8

608.2

459.6

346.2

336.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

811.5

724.7

601.4

504.7

597.8

 

 

 

 

 

 

    S/O-Ordinary Shares

138.5

135.8

132.9

130.0

113.1

Total Common Shares Outstanding

138.5

135.8

132.9

130.0

113.1

T/S-Ordinary Shares

0.0

0.0

0.0

0.0

0.0

Accumulated Intangible Amortization

119.2

110.0

108.9

95.6

78.3

Full-Time Employees

2,700

2,600

2,600

2,400

2,829

Number of Common Shareholders

1,339

1,369

1,371

1,380

1,320

Long Term Debt Due Within 1 Year

-

-

-

11.3

13.2

Long Term Debt Due Within 2 Years

-

-

-

52.5

11.5

Long Term Debt Due Within 3 Years

-

-

-

0.0

0.0

Long Term Debt Due Within 4 Years

-

-

-

0.0

0.0

Long Term Debt Due Within 5 Years

-

-

-

0.0

139.0

Long Term Debt Due thereafter

-

-

-

0.0

0.0

Total Long Term Debt, Supplemental

-

-

-

63.7

163.7

Operating Lease Due Within 1 Year

8.3

6.7

5.9

7.5

8.6

Operating Lease Due Within 2 Year

4.4

5.3

4.9

4.0

6.5

Operating Lease Due Within 3 Years

4.1

2.2

3.6

3.3

3.4

Operating Lease Due Within 4 Years

3.2

0.9

1.2

2.7

3.0

Operating Lease Due Within 5 Years

2.6

0.5

0.2

0.7

2.8

Operating Lease Due thereafter

3.3

0.0

0.0

0.0

2.1

Total Operating Leases, Supplemental

25.8

15.6

15.8

18.1

26.3

Projected Benefit Obligation - Japan

12.6

16.4

26.5

21.8

22.2

FV of Plan Assets - Japan

0.4

0.4

6.0

4.7

4.7

Funded Status - Japan

-12.2

-16.0

-20.5

-17.1

-17.5

Accumulated Benefit Obligation - Japan

11.3

15.3

23.1

19.1

20.2

Total Funded Status

-12.2

-16.0

-20.5

-17.1

-17.5

Discount Rate - Japan

1.19%

1.40%

1.29%

1.40%

1.66%

Compensation Rate - Japan

4.18%

4.22%

5.23%

5.21%

6.56%

Current Liability - Japan

-

0.0

-0.2

0.0

-

Non-Current Liability - Japan

12.2

16.0

20.2

17.1

17.5

AOCI-Net Actuarial Loss - Japan

1.0

0.6

3.8

2.6

2.0

AOCI-Prior Service Cost - Japan

0.3

0.3

1.2

1.2

1.3

AOCI-Transition Obligation - Japan

0.0

0.0

0.0

0.0

0.0

Deferred Income Taxes - Japan

-0.2

-0.2

-1.8

-1.5

-1.3

Net Assets Recognized on Balance Sheet

13.3

16.8

23.1

19.4

19.5

Equity securities

-

51.00%

51.00%

52.00%

45.00%

Fixed Income Securities

-

39.00%

39.00%

44.00%

40.00%

Other

-

10.00%

10.00%

4.00%

15.00%

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

52 Weeks

52 Weeks

UpdateType/Date

Updated Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Reclassified Normal 
31-Dec-2012

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Filed Currency

USD

USD

USD

USD

USD

Exchange Rate (Period Average)

1

1

1

1

1

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

KPMG LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

 

 

 

 

 

 

Net Income

68.8

124.2

85.1

-57.8

-517.0

    Depreciation

28.0

26.8

28.0

30.9

26.8

    Loss (income) from discontinued operatio

-

-

-

0.0

1.1

    Amortization

9.6

10.2

13.2

19.2

19.6

    Stock Based Compensation

-

-

-

8.1

7.0

    Impairment of goodwill

-

-

-

0.0

473.8

    Impairment of equity Investments

0.0

0.0

2.2

1.0

11.7

    Deferred tax valuation allowance

0.4

-41.0

-13.6

16.6

42.1

    Provision for deferred income taxes

11.6

21.7

10.6

-18.3

-26.4

    Charge for excess and obsolete inventory

4.0

3.2

1.0

4.9

0.0

    Excess tax benefit from share-based comp

-3.8

-0.7

-0.1

0.0

0.0

    Amortization of debt issuance costs

0.0

0.7

1.7

2.1

0.0

    Net income attributable to noncontrollin

0.0

-0.4

-0.8

0.0

0.0

    Other

1.7

-2.2

-1.3

-

-

    Impairment of Property & Equipment

-

-

-

1.2

1.4

    Impairment of intangibles

-

-

-

0.0

0.0

    Doubtful Accounts

-

-

-

0.3

0.7

    Charge for Fair Value Mark-up of Invent.

-

-

-

4.6

13.5

    Equity in net loss (earnings) of affilia

-

-

-

0.9

0.3

    Gain on Sale of Property & Equipment

-

-

-

0.0

-0.1

    Loss recognized as a result of remeasuri

-

-

-

-0.2

0.0

    Gain on Sale of Equity Investments

-

-

-

0.0

0.0

    Share-based compensation expense

9.9

7.5

7.6

-

-

    Trade accounts receivable and notes rece

10.6

19.3

-26.8

-19.2

53.4

    Inventories

-6.1

3.6

-14.3

10.7

1.9

    Accounts payable and accrued liabilities

6.3

-15.1

34.9

-1.6

-35.5

    Other current assets

-3.0

1.3

-0.3

1.7

1.2

    Income taxes payable and refundable inco

-11.0

-0.4

13.2

0.5

-18.9

    Other

-11.8

-1.4

0.5

-1.4

9.7

    Disc. Ops.

-

-

-

0.0

-1.9

Cash from Operating Activities

115.2

157.3

140.9

4.2

64.4

 

 

 

 

 

 

    Acquisition of property and equipment

-49.9

-30.3

-16.8

-13.2

-27.0

    Acquisition of Businesses

-

-

-

0.5

-162.9

    Other

-2.5

1.9

4.8

0.5

0.9

    Purchase of equity investments

-

-

-

0.0

-11.0

    Proceeds from sale of assets held for sa

-

-

-

2.3

-

    Proceeds from maturities of short-term i

8.0

2.0

0.0

0.0

0.0

    Other(1)

-

-

-

0.0

0.0

    Proceeds from Sale of Equity Investments

-

-

-

0.0

0.0

    Purchase of short-term investments

-28.0

-2.0

0.0

0.0

0.0

    Net cash provided by investing activitie

-

-

-

0.0

0.7

Cash from Investing Activities

-72.5

-28.4

-12.0

-9.8

-199.2

 

 

 

 

 

 

    Principal payments on short-term borrowi

0.0

0.0

-259.2

-799.6

-64.7

    Proceeds from short-term borrowings and

0.0

0.0

186.6

704.7

173.8

    Proceeds from stock offering

-

-

-

56.6

0.0

    Repurchase and retirement of common stoc

-

-

-

0.0

-28.9

    Excess tax benefit from employee stock p

-

-

-

0.0

0.0

    Payments for debt issuance costs

-

-

-

-3.6

-0.6

    Other

3.5

-0.8

0.0

-

-

    Issuance of common stock

7.4

11.7

6.8

1.3

3.1

Cash from Financing Activities

10.9

10.9

-65.7

-40.7

82.7

 

 

 

 

 

 

Effect of exchange rate changes on cash

3.2

-0.1

2.1

0.0

6.5

Increase in cash and cash equivalents

56.8

139.6

65.3

-46.3

-45.6

 

 

 

 

 

 

Cash and cash equivalents at beginning o

273.6

134.0

68.7

115.0

160.7

Cash and cash equivalents at end of peri

330.4

273.6

134.0

68.7

115.0

    Cash Interest Paid

0.3

0.2

-

7.5

2.8

    Cash Taxes Paid

29.7

22.0

-

-2.8

23.3

 

 

Financial Health

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)         

Key Indicators USD (mil)

 

Quarter
Ending
29-Jun-2013

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2012

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue 

177.5

-5.68%

715.9

-4.45%

21.55%

2.71%

Research & Development 

13.4

5.51%

50.9

6.17%

13.28%

5.10%

Operating Income 

26.4

-16.53%

99.4

-21.62%

-

17.86%

Income Available to Common Excl Extraord Items 

19.8

-8.73%

68.8

-44.43%

-

8.23%

Basic EPS Excl Extraord Items 

0.14

-10.01%

0.50

-45.48%

-

6.10%

Capital Expenditures 

34.1

13.33%

49.9

64.96%

55.96%

13.15%

Cash from Operating Activities 

42.3

-2.88%

115.2

-26.78%

201.71%

-2.88%

Free Cash Flow 

8.1

-39.32%

65.2

-48.64%

-

-9.31%

Total Assets 

831.9

8.22%

811.5

11.99%

17.16%

-4.75%

Total Liabilities 

115.7

-0.94%

116.7

0.27%

-9.69%

-8.59%

Total Long Term Debt 

0.0

-

0.0

-

-

-

Employees 

-

-

2700

3.85%

4.00%

-0.59%

Total Common Shares Outstanding 

139.2

1.28%

138.5

1.94%

2.11%

3.72%

Market Cap 

1,306.2

11.30%

1,271.0

7.26%

22.79%

5.01%

Key Ratios

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Profitability

Gross Margin 

42.94%

43.50%

45.12%

34.57%

38.13%

Operating Margin 

13.89%

16.93%

15.46%

-12.27%

-86.52%

Pretax Margin 

13.93%

17.08%

14.74%

-15.02%

-89.49%

Net Profit Margin 

9.61%

16.53%

12.25%

-14.48%

-93.00%

Financial Strength

Current Ratio 

6.21

5.43

3.60

3.62

3.95

Long Term Debt/Equity 

0.00

0.00

0.00

0.15

0.45

Total Debt/Equity 

0.00

0.00

0.00

0.21

0.49

Management Effectiveness

Return on Assets 

8.96%

18.66%

15.64%

-10.32%

-63.15%

Return on Equity 

10.56%

23.20%

20.94%

-16.92%

-86.82%

Efficiency

Receivables Turnover 

7.12

6.46

6.38

4.93

6.08

Inventory Turnover 

4.23

4.34

4.10

2.81

3.92

Asset Turnover 

0.93

1.13

1.24

0.72

0.68

Market Valuation USD (mil)

P/E (TTM) 

21.70

.

Enterprise Value 

1,075.0

Price/Sales (TTM) 

2.04

.

Enterprise Value/Revenue (TTM)

1.55

Price/Book (MRQ) 

1.98

.

Enterprise Value/EBITDA (TTM)

8.26

Market Cap as of 27-Sep-2013

1,418.5

.

 

 

 

 

Ratio Comparisons

 

Traded: NASDAQ: ENTG

Financials in: USD (actual units)

Industry: Semiconductors

As of 27-Sep-2013

Sector: Technology

 

Company

Industry

Sector

S&P 500

Valuation Ratios

P/E Excluding Extraordinary (TTM) 

21.70

19.99

22.09

19.68

P/E High Excluding Extraordinary - Last 5 Yrs 

18.46

36.86

42.91

32.79

P/E Low Excluding Extraordinary - Last 5 Yrs 

9.60

12.99

12.36

10.71

Beta 

3.72

1.28

1.19

1.00

Price/Revenue (TTM) 

2.04

3.44

4.07

2.57

Price/Book (MRQ) 

1.98

3.87

4.73

3.67

Price to Tangible Book (MRQ) 

2.12

4.36

6.85

5.21

Price to Cash Flow Per Share (TTM) 

13.65

15.83

17.48

14.22

Price to Free Cash Flow Per Share (TTM) 

23.65

26.54

23.00

26.26

 

 

 

 

 

Dividends

Dividend Yield 

-

2.44%

1.65%

2.26%

Dividend Per Share - 5 Yr Avg 

0.00

1.35

0.71

1.99

Dividend 5 Yr Growth 

-

21.22%

7.13%

0.08%

Payout Ratio (TTM) 

0.00%

18.90%

10.38%

25.98%

 

 

 

 

 

Growth Rates (%)

Revenue (MRQ) vs Qtr 1 Yr Ago 

-5.68%

32.22%

28.50%

15.58%

Revenue (TTM) vs TTM 1 Yr Ago 

-0.81%

40.54%

18.25%

17.69%

Revenue 5 Yr Growth 

2.71%

11.04%

16.94%

8.97%

EPS (MRQ) vs Qtr 1 Yr Ago 

-9.75%

50.47%

41.24%

19.49%

EPS (TTM) vs TTM 1 Yr Ago 

-36.53%

130.87%

49.53%

32.55%

EPS 5 Yr Growth 

6.25%

7.09%

20.44%

9.86%

Capital Spending 5 Yr Growth 

13.15%

-26.65%

9.78%

-2.04%

 

 

 

 

 

Financial Strength

Quick Ratio (MRQ) 

5.05

3.02

1.98

1.24

Current Ratio (MRQ) 

6.10

3.90

2.38

1.79

LT Debt/Equity (MRQ) 

0.00

0.19

0.31

0.64

Total Debt/Equity (MRQ) 

0.00

0.21

0.36

0.73

Interest Coverage (TTM) 

-

11.34

11.30

13.80

 

 

 

 

 

Profitability Ratios (%)

Gross Margin (TTM) 

42.18%

54.52%

55.32%

45.21%

Gross Margin - 5 Yr Avg 

41.63%

49.69%

53.24%

44.91%

EBITD Margin (TTM) 

18.72%

27.82%

25.78%

24.43%

EBITD Margin - 5 Yr Avg 

16.58%

18.02%

21.39%

22.84%

Operating Margin (TTM) 

12.62%

24.80%

22.29%

20.63%

Operating Margin - 5 Yr Avg 

-6.31%

13.57%

17.62%

18.28%

Pretax Margin (TTM) 

12.87%

24.89%

22.54%

17.95%

Pretax Margin - 5 Yr Avg 

-7.31%

14.88%

18.75%

17.10%

Net Profit Margin (TTM) 

9.42%

19.30%

17.35%

13.65%

Net Profit Margin - 5 Yr Avg 

-9.45%

10.91%

12.72%

12.10%

Effective Tax Rate (TTM) 

26.78%

21.71%

23.73%

28.45%

Effective Tax rate - 5 Yr Avg 

-

23.58%

24.82%

29.92%

 

 

 

 

 

Management Effectiveness (%)

Return on Assets (TTM) 

8.18%

15.21%

12.89%

8.54%

Return on Assets - 5 Yr Avg 

-8.76%

8.48%

10.70%

8.40%

Return on Investment (TTM) 

9.27%

15.22%

13.09%

7.90%

Return on Investment - 5 Yr Avg 

-10.19%

8.60%

11.50%

8.27%

Return on Equity (TTM) 

9.57%

21.72%

25.23%

19.72%

Return on Equity - 5 Yr Avg 

-11.75%

11.50%

21.05%

20.06%

 

 

 

 

 

Efficiency

Revenue/Employee (TTM) 

257,363.30

514,699.51

617,868.03

927,613.77

Net Income/Employee (TTM) 

24,248.52

106,063.20

132,630.14

116,121.92

Receivables Turnover (TTM) 

6.21

10.12

8.08

13.25

Inventory Turnover (TTM) 

4.00

5.67

19.61

14.53

Asset Turnover (TTM) 

0.87

0.82

0.75

0.93

 

 

Annual Ratios

 

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)         

 

 

 

31-Dec-2012

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

Financial Strength

Current Ratio 

6.21

5.43

3.60

3.62

3.95

Quick/Acid Test Ratio 

4.77

4.11

2.40

2.16

2.34

Working Capital 

486.1

410.4

279.5

193.5

233.8

Long Term Debt/Equity 

0.00

0.00

0.00

0.15

0.45

Total Debt/Equity 

0.00

0.00

0.00

0.21

0.49

Long Term Debt/Total Capital 

0.00

0.00

0.00

0.13

0.30

Total Debt/Total Capital 

0.00

0.00

0.00

0.17

0.33

Payout Ratio 

0.00%

0.00%

0.00%

0.00%

0.00%

Effective Tax Rate 

30.97%

3.30%

14.79%

-

-

Total Capital 

694.8

608.2

459.6

418.0

499.9

 

 

 

 

 

 

Efficiency

Asset Turnover 

0.93

1.13

1.24

0.72

0.68

Inventory Turnover 

4.23

4.34

4.10

2.81

3.92

Days In Inventory 

86.26

84.06

89.02

129.74

93.23

Receivables Turnover 

7.12

6.46

6.38

4.93

6.08

Days Receivables Outstanding 

51.30

56.50

57.22

74.01

60.07

Revenue/Employee 

265,149

288,177

264,775

166,102

196,076

Operating Income/Employee 

36,831

48,799

40,933

-20,387

-169,639

EBITDA/Employee 

50,760

63,055

56,779

500

-153,258

 

 

 

 

 

 

Profitability

Gross Margin 

42.94%

43.50%

45.12%

34.57%

38.13%

Operating Margin 

13.89%

16.93%

15.46%

-12.27%

-86.52%

EBITDA Margin 

19.14%

21.88%

21.44%

0.30%

-78.16%

EBIT Margin 

13.89%

16.93%

15.46%

-12.27%

-86.52%

Pretax Margin 

13.93%

17.08%

14.74%

-15.02%

-89.49%

Net Profit Margin 

9.61%

16.53%

12.25%

-14.48%

-93.00%

R&D Expense/Revenue 

7.12%

6.40%

6.38%

8.79%

7.23%

COGS/Revenue 

57.06%

56.50%

54.88%

65.43%

61.87%

SG&A Expense/Revenue 

20.59%

18.80%

21.36%

29.35%

26.60%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

8.96%

18.66%

15.64%

-10.32%

-63.15%

Return on Equity 

10.56%

23.20%

20.94%

-16.92%

-86.82%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share 

0.47

0.94

0.93

-0.07

0.33

Operating Cash Flow/Share  

0.83

1.16

1.06

0.03

0.57

 

Current Market Multiples

Market Cap/Earnings (TTM) 

21.68

Market Cap/Equity (MRQ) 

1.98

Market Cap/Revenue (TTM) 

2.04

Market Cap/EBIT (TTM) 

15.48

Market Cap/EBITDA (TTM) 

10.90

Enterprise Value/Earnings (TTM) 

16.43

Enterprise Value/Equity (MRQ) 

1.50

Enterprise Value/Revenue (TTM) 

1.55

Enterprise Value/EBIT (TTM) 

11.73

Enterprise Value/EBITDA (TTM) 

8.26

 

 

Stock Report

 

  

 

Stock Snapshot    

 

 

Traded: NASDAQ: ENTG

As of 27-Sep-2013    US Dollars

Recent Price

$10.20

 

EPS

$0.50

52 Week High

$10.64

 

Price/Sales

1.98

52 Week Low

$7.50

 

Price/Earnings

19.85

Avg. Volume (mil)

0.87

 

Price/Book

2.03

Market Value (mil)

$1,418.45

 

Beta

3.72

 

Price % Change

Rel S&P 500%

4 Week

8.51%

4.74%

13 Week

8.68%

3.19%

52 Week

22.89%

5.12%

Year to Date

11.11%

-6.33%

 

 

 

 

 

 

 

                        

Stock History    

 

Market Cap History

 

29-Jun-13

% Chg

30-Mar-13

% Chg

31-Dec-12

% Chg

29-Sep-12

% Chg

30-Jun-12

% Chg

Total Common Shares Outstanding

139

-0.2

139

0.7

138

0.7

138

0.1

137

0.1

Market Cap

1,306.2

-5.0

1,375.4

8.2

1,271.0

13.7

1,117.9

-4.7

1,173.5

-8.5

Yearly Price History

 

2013

% Chg

2012

% Chg

2011

% Chg

2010

% Chg

2009

% Chg

High Price

10.64

4.5

10.18

-3.8

10.58

37.0

7.73

34.3

5.75

-34.4

Low Price

8.89

19.3

7.45

24.2

6.00

66.2

3.61

622.0

0.50

-51.9

Year End Price

10.20

11.1

9.18

5.2

8.73

16.8

7.47

41.5

5.28

141.1

Monthly Price History

Price Ending Date

Open

High

Low

Close

Volume

 

27-Sep-13

9.52

10.23

9.39

10.20

15,812,318

 

30-Aug-13

9.60

9.64

8.97

9.40

17,010,808

 

31-Jul-13

9.45

10.64

9.25

9.53

22,226,418

 

28-Jun-13

10.43

10.52

9.33

9.39

14,089,921

 

31-May-13

9.47

10.46

9.05

10.42

11,707,233

 

30-Apr-13

9.83

9.88

8.89

9.48

13,243,394

 

28-Mar-13

9.52

10.18

9.37

9.86

11,397,696

 

28-Feb-13

9.94

10.00

9.39

9.51

12,210,720

 

31-Jan-13

9.43

10.09

8.96

9.86

25,007,511

 

31-Dec-12

9.06

9.35

8.70

9.18

13,558,686

 

30-Nov-12

8.20

9.16

7.85

8.96

11,789,542

 

31-Oct-12

8.21

8.49

7.50

8.20

12,863,234

 

28-Sep-12

8.78

9.35

8.09

8.13

11,875,588

 

 

Standard & Poor’s

United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative

Publication date: 05-Aug-2011 20:13:14 EST


 

·         We have also removed both the short- and long-term ratings from CreditWatch negative.

·         The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

·         More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

·         Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

·         The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

 

TORONTO (Standard & Poor's) Aug. 5, 2011--Standard & Poor's Ratings Services said today that it lowered its long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA'. Standard & Poor's also said that the outlook on the long-term rating is negative. At the same time, Standard & Poor's affirmed its 'A-1+' short-term rating on the U.S. In addition, Standard & Poor's removed both ratings from CreditWatch, where they were placed on July 14, 2011, with negative implications.

 

The transfer and convertibility (T&C) assessment of the U.S.--our assessment of the likelihood of official interference in the ability of U.S.-based public- and private-sector issuers to secure foreign exchange for

debt service--remains 'AAA'.

 

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

 

Our lowering of the rating was prompted by our view on the rising public debt burden and our perception of greater policymaking uncertainty, consistent with our criteria (see "Sovereign Government Rating Methodology and Assumptions ," June 30, 2011, especially Paragraphs 36-41). Nevertheless, we view the U.S. federal government's other economic, external, and monetary credit attributes, which form the basis for the sovereign rating, as broadly unchanged.

 

We have taken the ratings off CreditWatch because the Aug. 2 passage of the Budget Control Act Amendment of 2011 has removed any perceived immediate threat of payment default posed by delays to raising the government's debt ceiling. In addition, we believe that the act provides sufficient clarity to allow us to evaluate the likely course of U.S. fiscal policy for the next few years.

 

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements,

the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

 

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating and with 'AAA' rated sovereign peers (see Sovereign Government Rating Methodology and Assumptions," June 30, 2011, especially Paragraphs 36-41). In our view, the difficulty in framing a consensus on fiscal policy weakens the government's ability to manage public finances and diverts attention from the debate over how to achieve more balanced and dynamic economic growth in an era of fiscal stringency and private-sector deleveraging (ibid). A new political consensus might (or might not) emerge after the 2012 elections, but we believe that by then, the government debt burden will likely be higher, the needed medium-term fiscal adjustment potentially greater, and the inflection point on the U.S. population's demographics and other age-related spending drivers closer at hand (see "Global Aging 2011: In The U.S., Going Gray Will Likely Cost Even More Green, Now," June 21, 2011).

 

Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.

 

The act calls for as much as $2.4 trillion of reductions in expenditure growth over the 10 years through 2021. These cuts will be implemented in two steps: the $917 billion agreed to initially, followed by an additional $1.5 trillion that the newly formed Congressional Joint Select Committee on Deficit Reduction is supposed to recommend by November 2011. The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

 

The act further provides that if Congress does not enact the committee's recommendations, cuts of $1.2 trillion will be implemented over the same time period. The reductions would mainly affect outlays for civilian discretionary spending, defense, and Medicare. We understand that this fall-back mechanism is designed to encourage Congress to embrace a more balanced mix of expenditure savings, as the committee might recommend.

 

We note that in a letter to Congress on Aug. 1, 2011, the Congressional Budget Office (CBO) estimated total budgetary savings under the act to be at least $2.1 trillion over the next 10 years relative to its baseline assumptions. In updating our own fiscal projections, with certain modifications outlined below, we have relied on the CBO's latest "Alternate Fiscal Scenario" of June 2011, updated to include the CBO assumptions contained in its Aug. 1 letter to Congress. In general, the CBO's "Alternate Fiscal Scenario" assumes a continuation of recent Congressional action overriding existing law.

 

We view the act's measures as a step toward fiscal consolidation. However, this is within the framework of a legislative mechanism that leaves open the details of what is finally agreed to until the end of 2011, and Congress and the Administration could modify any agreement in the future. Even assuming that at least $2.1 trillion of the spending reductions the act envisages are implemented, we maintain our view that the U.S. net general government debt burden (all levels of government combined, excluding liquid financial assets) will likely continue to grow. Under our revised base case fiscal scenario--which we consider to be consistent with a 'AA+' long-term rating and a negative outlook--we now project that net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 79% in 2015 and 85% by 2021. Even the projected 2015 ratio of sovereign indebtedness is high in relation to those of peer credits and, as noted, would continue to rise under the act's revised policy settings.

 

Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

Our revised upside scenario--which, other things being equal, we view as consistent with the outlook on the 'AA+' long-term rating being revised to stable--retains these same macroeconomic assumptions. In addition, it incorporates $950 billion of new revenues on the assumption that the 2001 and 2003 tax cuts for high earners lapse from 2013 onwards, as the Administration is advocating. In this scenario, we project that the net general government debt would rise from an estimated 74% of GDP by the end of 2011 to 77% in 2015 and to 78% by 2021.

 

Our revised downside scenario--which, other things being equal, we view as being consistent with a possible further downgrade to a 'AA' long-term rating--features less-favorable macroeconomic assumptions, as outlined below and also assumes that the second round of spending cuts (at least $1.2 trillion) that the act calls for does not occur. This scenario also assumes somewhat higher nominal interest rates for U.S. Treasuries. We still believe that the role of the U.S. dollar as the key reserve currency confers a government funding advantage, one that could change only slowly over time, and that Fed policy might lean toward continued loose monetary policy at a time of fiscal tightening. Nonetheless, it is possible that interest rates could rise if investors re-price relative risks. As a result, our alternate scenario factors in a 50 basis point (bp)-75 bp rise in 10-year bond yields relative to the base and upside cases from 2013 onwards. In this scenario, we project the net public debt burden would rise from 74% of GDP in 2011 to 90% in 2015 and to 101% by 2021.

 

Our revised scenarios also take into account the significant negative revisions to historical GDP data that the Bureau of Economic Analysis announced on July 29. From our perspective, the effect of these revisions underscores two related points when evaluating the likely debt trajectory of the U.S. government. First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

 

When comparing the U.S. to sovereigns with 'AAA' long-term ratings that we view as relevant peers--Canada, France, Germany, and the U.K.--we also observe, based on our base case scenarios for each, that the trajectory of the U.S.'s net public debt is diverging from the others. Including the U.S., we estimate that these five sovereigns will have net general government debt to GDP ratios this year ranging from 34% (Canada) to 80% (the U.K.), with the U.S. debt burden at 74%. By 2015, we project that their net public debt to GDP ratios will range between 30% (lowest, Canada) and 83% (highest, France), with the U.S. debt burden at 79%. However, in contrast with the U.S., we project that the net public debt burdens of these other sovereigns will begin to decline, either before or by 2015.

 

Standard & Poor's transfer T&C assessment of the U.S. remains 'AAA'. Our T&C assessment reflects our view of the likelihood of the sovereign restricting other public and private issuers' access to foreign exchange needed to meet debt service. Although in our view the credit standing of the U.S. government has deteriorated modestly, we see little indication that official interference of this kind is entering onto the policy agenda of either Congress or the Administration. Consequently, we continue to view this risk as being highly remote.

 

The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.62.14

UK Pound

1

Rs.99.02

Euro

1

Rs.83.87

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.