Wednesday, December 18, 2002
ATI reported a profit of $5.0 million, or 2 cents per share in the current quarter ended Nov. 30 as compared to a loss of $10.3 million a year earlier. The positive results are mainly due to the increase in new product sales.
However the adjusted earnings, excluding goodwill amortization expenses, fell to $7.0 million, or 3 cents per share, from $10.4 million, or 4 cents per share, the year before. That comes in at the low end of ATI's estimate of adjusted earnings between 3 cents and 5 cents per share.
Revenue of $322 million rose 28.8 percent from $250 million. The mean estimate from 14 analysts polled by Thomson First Call was adjusted earnings of 4 cents per share and the average revenue estimate from 7 analysts was $264.7 million.
The company said it expected second-quarter revenue to decline by 10 percent compared with the first quarter and adjusted earnings would be about the same as the first quarter.
ATI had also forecast an improvement from its 30.1 percent gross margin, predicting the margin could move to between 32 percent and 35 percent. Gross margins actually fell to 27.3 percent.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
