ATMI Inc. in Danbury nearly doubled its fourth-quarter earnings, helped by an investment gain and tax benefits, The Associated Press reports.
The provider of specialty materials to semiconductor makers reported on Wednesday that its net income rose to $13.8 million, or 43 cents per share, for the period ended Dec. 31. It recorded earnings of $7 million, or 22 cents per share, a year earlier.
Taking out 24 cents per share related to one-time items, earnings were 19 cents per share.
Analysts surveyed by FactSet expected higher net income of 24 cents per share.
Revenue increased 13 percent to $96 million from $84.6 million, benefiting from new cleans products.
This beat Wall Street’s forecast for revenue of $92.4 million.
For the year, earnings were $39.5 million, or $1.24 per share. This compares with a loss of $6.7 million, or 21 cents per share, in the previous year.
Adjusted earnings were 93 cents per share when excluding 31 cents per share for one-time items.
Annual revenue rose 44 percent to $367.3 million from $254.7 million.
