CORRECTED - CORRECTED-UPDATE 1-ATMI sees Q2 results below expectations; shar
(Corrects first paragraph to say 52-week, not 52-month) (Recasts, adds details, share movement)
July 14 (Reuters) - Semiconductor material supplier ATMI Inc ATMI.O guided second-quarter results below Wall Street expectations on delayed shipments and weak sales to the memory chips market, sending its shares down 18 percent to their 52-week low.
The company, which makes materials used to deliver toxic gases used by the semiconductor industry, also lowered its earnings and revenue outlook for the full year.
The company expects second-quarter earnings of 30 cents a share on sales of about $89 million.
Analysts were expecting the company to earn 33 cents a share on revenue of $98.9 million for the quarter, according to Reuters Estimates.
ATMI said the weak revenue outlook reflects a delay in the shipment of some products to China because of security procedures related to the upcoming Olympic Games.
The ongoing weakness in the memory chip market has also affected sales, the company said in a statement.
Memory chip makers, including world No.1 Samsung Electronics Co Ltd (005930.KS: Cotización), are finally emerging from a prolonged slump caused by oversupply and sluggish demand. But they are still under pressure to increase output at lower costs and spend more on cutting-edge technologies.
For 2008, the company now expects profit of $1.25 to $1.40 a share and revenue of between $375 million and $400 million, down from its earlier projection of earnings of $1.32 to $1.48 a share and revenue of $400 million to $420 million. Continuación...