- ATMI Inc. filed a quarterly report on Form 10-Q for the period ending March 31, 2009.
- As of March 31, 2009, ATMI had total assets of $426 million including $62 million in cash and $33 million in marketable securities. Total current assets were $205 million.
- For the quarter, ATMI reported total current liabilities of $25 million, including $12 million in accounts payable and $6 million in accrued salaries and benefits.
This document is IDEXX Laboratories' quarterly report on Form 10-Q for the period ending March 31, 2009. It provides financial statements including the condensed consolidated balance sheet and statements of operations and cash flows for the first quarter of 2009 compared to the same period in 2008. It also gives information on the company's business segments, risks, legal proceedings, and financial position and performance for the quarter.
- GrafTech International Ltd. filed a quarterly report (Form 10-Q) with the SEC for the period ending March 31, 2009.
- In the first quarter of 2009, net sales were $134 million, down from $290 million in the first quarter of 2008, due to lower demand. Gross profit was $32 million, down from $108 million.
- Despite lower sales and profits, GrafTech reported net income of $8.5 million in the first quarter of 2009, down from $36.7 million in the prior year period, helped by lower costs and a $1.2 million gain from its investment in a non-consolidated affiliate.
- BTU International Inc. filed a quarterly report on Form 10-Q for the period ending March 29, 2009.
- For the quarter, BTU reported a net loss of $4.6 million compared to net income of $99,000 in the same period the previous year.
- Net sales decreased to $9.8 million for the quarter from $16.6 million in the previous year's first quarter.
This document is IAC/InterActiveCorp's quarterly report filed with the SEC for the period ending March 31, 2009. It includes IAC's consolidated financial statements and disclosures. The report summarizes that for the quarter, IAC's revenue decreased 10% to $332 million, and it reported a net loss of $28 million compared to net earnings of $52 million in the prior year. Cash provided by operating activities was $48.7 million, while cash used in investing activities was $121.4 million, primarily for acquisitions, capital expenditures and purchases of marketable securities and long-term investments.
This document is Schawk Inc's quarterly report filed with the SEC for the quarter ending March 31, 2009. It includes the company's consolidated financial statements and notes. It discusses the company's balance sheet, reporting a decrease in total assets from $440 million at the end of 2008 to $435 million at the end of the first quarter of 2009. It also reports a decrease in total liabilities from $239 million to $243 million over the same period. The report provides Management's Discussion and Analysis of the company's financial condition and results.
- AmeriGas Partners LP filed a quarterly report on Form 10-Q for the period ending March 31, 2009.
- The filing includes condensed consolidated financial statements and notes for AmeriGas Partners and its principal operating subsidiaries.
- For the quarter, AmeriGas Partners reported net income of $147.8 million on total revenues of $823.4 million.
Danaher Corporation filed its quarterly report for Q1 2009.
- Net earnings for Q1 2009 were $237.7 million, down from $276.5 million in Q1 2008.
- Sales were $2.6 billion in Q1 2009, down from $3 billion in Q1 2008.
- The company continued to acquire companies in its medical, industrial and instrumentation segments during 2008 and 2009 to complement its existing businesses.
This document is Symantec Corporation's Form 10-Q quarterly report filed with the SEC on November 7, 2008 for the quarterly period ended October 3, 2008. It includes Symantec's condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations for the quarter. The report provides information on Symantec's revenues, costs, expenses, operating income, net income, assets, liabilities and cash flows for the quarterly period.
This document is IDEXX Laboratories' quarterly report on Form 10-Q for the period ending March 31, 2009. It provides financial statements including the condensed consolidated balance sheet and statements of operations and cash flows for the first quarter of 2009 compared to the same period in 2008. It also gives information on the company's business segments, risks, legal proceedings, and financial position and performance for the quarter.
- GrafTech International Ltd. filed a quarterly report (Form 10-Q) with the SEC for the period ending March 31, 2009.
- In the first quarter of 2009, net sales were $134 million, down from $290 million in the first quarter of 2008, due to lower demand. Gross profit was $32 million, down from $108 million.
- Despite lower sales and profits, GrafTech reported net income of $8.5 million in the first quarter of 2009, down from $36.7 million in the prior year period, helped by lower costs and a $1.2 million gain from its investment in a non-consolidated affiliate.
- BTU International Inc. filed a quarterly report on Form 10-Q for the period ending March 29, 2009.
- For the quarter, BTU reported a net loss of $4.6 million compared to net income of $99,000 in the same period the previous year.
- Net sales decreased to $9.8 million for the quarter from $16.6 million in the previous year's first quarter.
This document is IAC/InterActiveCorp's quarterly report filed with the SEC for the period ending March 31, 2009. It includes IAC's consolidated financial statements and disclosures. The report summarizes that for the quarter, IAC's revenue decreased 10% to $332 million, and it reported a net loss of $28 million compared to net earnings of $52 million in the prior year. Cash provided by operating activities was $48.7 million, while cash used in investing activities was $121.4 million, primarily for acquisitions, capital expenditures and purchases of marketable securities and long-term investments.
This document is Schawk Inc's quarterly report filed with the SEC for the quarter ending March 31, 2009. It includes the company's consolidated financial statements and notes. It discusses the company's balance sheet, reporting a decrease in total assets from $440 million at the end of 2008 to $435 million at the end of the first quarter of 2009. It also reports a decrease in total liabilities from $239 million to $243 million over the same period. The report provides Management's Discussion and Analysis of the company's financial condition and results.
- AmeriGas Partners LP filed a quarterly report on Form 10-Q for the period ending March 31, 2009.
- The filing includes condensed consolidated financial statements and notes for AmeriGas Partners and its principal operating subsidiaries.
- For the quarter, AmeriGas Partners reported net income of $147.8 million on total revenues of $823.4 million.
Danaher Corporation filed its quarterly report for Q1 2009.
- Net earnings for Q1 2009 were $237.7 million, down from $276.5 million in Q1 2008.
- Sales were $2.6 billion in Q1 2009, down from $3 billion in Q1 2008.
- The company continued to acquire companies in its medical, industrial and instrumentation segments during 2008 and 2009 to complement its existing businesses.
This document is Symantec Corporation's Form 10-Q quarterly report filed with the SEC on November 7, 2008 for the quarterly period ended October 3, 2008. It includes Symantec's condensed consolidated financial statements and management's discussion and analysis of financial condition and results of operations for the quarter. The report provides information on Symantec's revenues, costs, expenses, operating income, net income, assets, liabilities and cash flows for the quarterly period.
This document is a quarterly report filed with the SEC by Regis Corporation for the period ending March 31, 2009. It includes Regis' condensed consolidated balance sheet, statement of operations, and statement of cash flows for the periods presented. The report indicates that Regis is a personal services company operating hair salons across the United States and Canada. It experienced a net loss for the nine months ended March 31, 2009 compared to net income in the prior year period.
Questar Market Resources Inc. filed its quarterly report on Form 10-Q for the period ending March 31, 2009. The report includes the company's consolidated statements of income and balance sheets for the first quarter of 2009, as well as notes about the company's business, basis of presentation, and accounting policies. The report shows that the company's revenues were $538 million for the quarter, with net income of $21 million. Total assets as of March 31, 2009 were $6.3 billion. Questar Market Resources explores for and produces natural gas and oil and also provides midstream services.
- DemandTec, Inc. filed its quarterly report for the period ending May 31, 2009.
- As of May 31, 2009, DemandTec had $112.7 million in total assets including $28.5 million in cash and $46 million in marketable securities. It had $53.7 million in current liabilities.
- For the quarter, DemandTec's revenue was $18.4 million, down from $23.2 million in the same period the previous year. It reported a net loss of $4.5 million compared to a net loss of $2.1 million in the previous year.
CACI International Inc filed a Form 10-Q with the SEC for the quarterly period ended March 31, 2009.
The filing reported that for the quarter, CACI's revenue was $673.9 million and net income was $23.4 million, or $0.78 per basic share. For the nine month period ended March 31, 2009, CACI's revenue was $1.9 billion and net income was $64.1 million, or $2.14 per basic share.
CACI is a provider of information solutions and services in support of national security missions and government modernization/transformation for intelligence, defense, and federal civilian customers.
This document is O'Reilly Automotive's 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2009. It includes financial statements and notes, management's discussion and analysis of financial condition and results of operations, controls and procedures, and legal proceedings. The financial statements show total assets of $4.38 billion as of March 31, 2009, including current assets of $1.96 billion, property and equipment of $1.57 billion, and total shareholders' equity of $2.37 billion. Net income for the quarter was $62.8 million.
This document is Acuity Brands Inc.'s quarterly report filed with the SEC for the quarter ending May 31, 2009. It includes the company's consolidated balance sheets, statements of income, statements of cash flows, and notes to the financial statements. It also includes sections on management's discussion of financial condition and results of operations, market risk, and controls and procedures.
This document is RPM International Inc.'s quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes RPM's consolidated financial statements and notes. The financial statements show that for the quarter, RPM reported net sales of $915.9 million, net income of $73 million, and basic earnings per share of $0.57. The balance sheet indicates total assets of $3.4 billion as of August 31, 2009, including $255.8 million of cash and cash equivalents. The cash flow statement shows that for the quarter, RPM generated $52.1 million of cash from operating activities.
- MedAssets, Inc. filed a quarterly report on Form 10-Q for the period ending March 31, 2009 with the SEC.
- The filing includes condensed consolidated financial statements and notes for the quarter, including a balance sheet, statement of operations, and statement of cash flows.
- As of March 31, 2009 MedAssets had total assets of $770,991, total liabilities of $378,893, and total stockholders' equity of $392,098.
This document is a quarterly report filed with the SEC by Strayer Education Inc. for the period ending March 31, 2009. It includes:
- An unaudited condensed consolidated balance sheet, income statement, and statement of cash flows for the periods ending December 31, 2008 and March 31, 2009.
- Notes to the unaudited condensed consolidated financial statements providing additional information.
- Disclosure that the company has filed all required reports with the SEC during the preceding 12 months and that interactive data files have been submitted.
- Signatures from the company's officers certifying the accuracy of the financial information.
Double-Take Software filed its quarterly report for the period ending March 31, 2009. The report included the company's consolidated balance sheet and statements of operations and cash flows for the quarter. According to the filing, Double-Take's total revenue for the quarter was $18.2 million, with a net loss of $45 thousand. Cash provided by operating activities was $6.7 million. The filing provides key financial details on Double-Take's performance and cash flows for the fiscal quarter.
This 10-Q filing by Symantec Corp provides their quarterly financial statements and notes for the period ending July 4, 2008. It includes their condensed consolidated balance sheet, income statement, and cash flow statement, as well as notes about their accounting practices. The filing also discusses their revenues, costs, expenses, assets, liabilities, and cash flows for the quarter.
- Silicon Image Inc filed a quarterly report for the period ending March 31, 2009.
- As of March 31, 2009, the company had $21 million in cash and cash equivalents and $147.9 million in short-term investments for total current assets of $226.6 million.
- Total liabilities were $46.2 million, resulting in total stockholders' equity of $249.9 million.
- Brush Engineered Materials Inc. filed a quarterly report (Form 10-Q) with the SEC for the period ending April 3, 2009.
- In the first quarter of 2009, the company reported a net loss of $8.1 million compared to net income of $4.6 million in the first quarter of 2008.
- Total sales decreased significantly to $135.4 million for the first quarter of 2009 from $226.3 million in the same period of 2008.
Lindsay Corporation filed its quarterly report on Form 10-Q for the period ending May 31, 2009. The filing provides Lindsay's address, contact information, business overview and identifies it as an agricultural equipment manufacturer. The filing includes Lindsay's condensed consolidated financial statements for the quarters and year-to-date periods ending May 31, 2009 and 2008, including statements of operations, balance sheets, and cash flows. It also includes notes to the financial statements regarding Lindsay's accounting policies and other financial details.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The Ryland Group Inc. filed a quarterly report on Form 10-Q for the period ending March 31, 2009.
- The filing includes consolidated financial statements and notes for the company, which operates as a homebuilder and provider of mortgage related financial services across four homebuilding regions.
- For the quarter, the company reported a net loss of $75.3 million compared to a net loss of $29.3 million in the prior year period.
This document is Assurant Inc.'s quarterly report on Form 10-Q for the period ending March 31, 2009. It provides financial statements and disclosures for the quarter, including the consolidated balance sheet, statement of operations, statement of cash flows, and notes to the financial statements. The report indicates that Assurant Inc. operates in the insurance industry, providing accident and health insurance, and that its common stock is traded on the New York Stock Exchange under the symbol "AIZ".
- Virage Logic Corporation filed a Form 10-Q for the quarter ending March 31, 2009.
- In the quarter, the company reported a net loss of $26.3 million compared to net income of $0.6 million in the same quarter of the prior year.
- Revenues decreased to $11 million for the quarter from $14.7 million in the prior year quarter.
- The results were negatively impacted by an $11.8 million goodwill impairment charge recognized in the quarter.
This document is CIGNA Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2009. It includes:
1) CIGNA's consolidated financial statements for the quarter, showing a net income of $209 million.
2) A management discussion and analysis section providing an overview of CIGNA's financial condition and results of operations for the quarter.
3) Certification of controls and procedures signed by CIGNA's CEO and CFO stating that the report is accurate.
Colonial Properties Trust reported financial results for the first quarter of 2009. Total property revenues were $82.1 million, nearly equal to revenues of $80.9 million in the first quarter of 2008. Net income was $0.29 per diluted share, matching the previous year's first quarter. Funds from operations (FFO) per diluted share increased to $0.88 from $0.58 in the prior year period, due to lower interest expense and preferred share redemptions. The company's dividend payout ratio declined to 84.8% of diluted earnings per share from 165.2% in the first quarter of 2008.
El documento ofrece consejos sobre el uso seguro y responsable de las redes sociales, incluyendo ser cauteloso al compartir datos personales e intimidades, ampliar amistades pero considerando que los comentarios u opiniones pueden ofender a otros, y que las redes sociales pueden ser una herramienta útil para los docentes si se gestionan bien, por ejemplo para solicitar propuestas de trabajos o visitas de estudio.
Este documento discute el marketing directo, definiéndolo como una forma de comunicación que busca crear y explotar una relación directa entre una empresa y sus clientes. Explica las ventajas del marketing directo, como dirigirse específicamente a los clientes objetivo y medir directamente los resultados de las campañas. También analiza factores como los cambios sociales que han contribuido al crecimiento del marketing directo.
This document is a quarterly report filed with the SEC by Regis Corporation for the period ending March 31, 2009. It includes Regis' condensed consolidated balance sheet, statement of operations, and statement of cash flows for the periods presented. The report indicates that Regis is a personal services company operating hair salons across the United States and Canada. It experienced a net loss for the nine months ended March 31, 2009 compared to net income in the prior year period.
Questar Market Resources Inc. filed its quarterly report on Form 10-Q for the period ending March 31, 2009. The report includes the company's consolidated statements of income and balance sheets for the first quarter of 2009, as well as notes about the company's business, basis of presentation, and accounting policies. The report shows that the company's revenues were $538 million for the quarter, with net income of $21 million. Total assets as of March 31, 2009 were $6.3 billion. Questar Market Resources explores for and produces natural gas and oil and also provides midstream services.
- DemandTec, Inc. filed its quarterly report for the period ending May 31, 2009.
- As of May 31, 2009, DemandTec had $112.7 million in total assets including $28.5 million in cash and $46 million in marketable securities. It had $53.7 million in current liabilities.
- For the quarter, DemandTec's revenue was $18.4 million, down from $23.2 million in the same period the previous year. It reported a net loss of $4.5 million compared to a net loss of $2.1 million in the previous year.
CACI International Inc filed a Form 10-Q with the SEC for the quarterly period ended March 31, 2009.
The filing reported that for the quarter, CACI's revenue was $673.9 million and net income was $23.4 million, or $0.78 per basic share. For the nine month period ended March 31, 2009, CACI's revenue was $1.9 billion and net income was $64.1 million, or $2.14 per basic share.
CACI is a provider of information solutions and services in support of national security missions and government modernization/transformation for intelligence, defense, and federal civilian customers.
This document is O'Reilly Automotive's 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2009. It includes financial statements and notes, management's discussion and analysis of financial condition and results of operations, controls and procedures, and legal proceedings. The financial statements show total assets of $4.38 billion as of March 31, 2009, including current assets of $1.96 billion, property and equipment of $1.57 billion, and total shareholders' equity of $2.37 billion. Net income for the quarter was $62.8 million.
This document is Acuity Brands Inc.'s quarterly report filed with the SEC for the quarter ending May 31, 2009. It includes the company's consolidated balance sheets, statements of income, statements of cash flows, and notes to the financial statements. It also includes sections on management's discussion of financial condition and results of operations, market risk, and controls and procedures.
This document is RPM International Inc.'s quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes RPM's consolidated financial statements and notes. The financial statements show that for the quarter, RPM reported net sales of $915.9 million, net income of $73 million, and basic earnings per share of $0.57. The balance sheet indicates total assets of $3.4 billion as of August 31, 2009, including $255.8 million of cash and cash equivalents. The cash flow statement shows that for the quarter, RPM generated $52.1 million of cash from operating activities.
- MedAssets, Inc. filed a quarterly report on Form 10-Q for the period ending March 31, 2009 with the SEC.
- The filing includes condensed consolidated financial statements and notes for the quarter, including a balance sheet, statement of operations, and statement of cash flows.
- As of March 31, 2009 MedAssets had total assets of $770,991, total liabilities of $378,893, and total stockholders' equity of $392,098.
This document is a quarterly report filed with the SEC by Strayer Education Inc. for the period ending March 31, 2009. It includes:
- An unaudited condensed consolidated balance sheet, income statement, and statement of cash flows for the periods ending December 31, 2008 and March 31, 2009.
- Notes to the unaudited condensed consolidated financial statements providing additional information.
- Disclosure that the company has filed all required reports with the SEC during the preceding 12 months and that interactive data files have been submitted.
- Signatures from the company's officers certifying the accuracy of the financial information.
Double-Take Software filed its quarterly report for the period ending March 31, 2009. The report included the company's consolidated balance sheet and statements of operations and cash flows for the quarter. According to the filing, Double-Take's total revenue for the quarter was $18.2 million, with a net loss of $45 thousand. Cash provided by operating activities was $6.7 million. The filing provides key financial details on Double-Take's performance and cash flows for the fiscal quarter.
This 10-Q filing by Symantec Corp provides their quarterly financial statements and notes for the period ending July 4, 2008. It includes their condensed consolidated balance sheet, income statement, and cash flow statement, as well as notes about their accounting practices. The filing also discusses their revenues, costs, expenses, assets, liabilities, and cash flows for the quarter.
- Silicon Image Inc filed a quarterly report for the period ending March 31, 2009.
- As of March 31, 2009, the company had $21 million in cash and cash equivalents and $147.9 million in short-term investments for total current assets of $226.6 million.
- Total liabilities were $46.2 million, resulting in total stockholders' equity of $249.9 million.
- Brush Engineered Materials Inc. filed a quarterly report (Form 10-Q) with the SEC for the period ending April 3, 2009.
- In the first quarter of 2009, the company reported a net loss of $8.1 million compared to net income of $4.6 million in the first quarter of 2008.
- Total sales decreased significantly to $135.4 million for the first quarter of 2009 from $226.3 million in the same period of 2008.
Lindsay Corporation filed its quarterly report on Form 10-Q for the period ending May 31, 2009. The filing provides Lindsay's address, contact information, business overview and identifies it as an agricultural equipment manufacturer. The filing includes Lindsay's condensed consolidated financial statements for the quarters and year-to-date periods ending May 31, 2009 and 2008, including statements of operations, balance sheets, and cash flows. It also includes notes to the financial statements regarding Lindsay's accounting policies and other financial details.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The Ryland Group Inc. filed a quarterly report on Form 10-Q for the period ending March 31, 2009.
- The filing includes consolidated financial statements and notes for the company, which operates as a homebuilder and provider of mortgage related financial services across four homebuilding regions.
- For the quarter, the company reported a net loss of $75.3 million compared to a net loss of $29.3 million in the prior year period.
This document is Assurant Inc.'s quarterly report on Form 10-Q for the period ending March 31, 2009. It provides financial statements and disclosures for the quarter, including the consolidated balance sheet, statement of operations, statement of cash flows, and notes to the financial statements. The report indicates that Assurant Inc. operates in the insurance industry, providing accident and health insurance, and that its common stock is traded on the New York Stock Exchange under the symbol "AIZ".
- Virage Logic Corporation filed a Form 10-Q for the quarter ending March 31, 2009.
- In the quarter, the company reported a net loss of $26.3 million compared to net income of $0.6 million in the same quarter of the prior year.
- Revenues decreased to $11 million for the quarter from $14.7 million in the prior year quarter.
- The results were negatively impacted by an $11.8 million goodwill impairment charge recognized in the quarter.
This document is CIGNA Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2009. It includes:
1) CIGNA's consolidated financial statements for the quarter, showing a net income of $209 million.
2) A management discussion and analysis section providing an overview of CIGNA's financial condition and results of operations for the quarter.
3) Certification of controls and procedures signed by CIGNA's CEO and CFO stating that the report is accurate.
Colonial Properties Trust reported financial results for the first quarter of 2009. Total property revenues were $82.1 million, nearly equal to revenues of $80.9 million in the first quarter of 2008. Net income was $0.29 per diluted share, matching the previous year's first quarter. Funds from operations (FFO) per diluted share increased to $0.88 from $0.58 in the prior year period, due to lower interest expense and preferred share redemptions. The company's dividend payout ratio declined to 84.8% of diluted earnings per share from 165.2% in the first quarter of 2008.
El documento ofrece consejos sobre el uso seguro y responsable de las redes sociales, incluyendo ser cauteloso al compartir datos personales e intimidades, ampliar amistades pero considerando que los comentarios u opiniones pueden ofender a otros, y que las redes sociales pueden ser una herramienta útil para los docentes si se gestionan bien, por ejemplo para solicitar propuestas de trabajos o visitas de estudio.
Este documento discute el marketing directo, definiéndolo como una forma de comunicación que busca crear y explotar una relación directa entre una empresa y sus clientes. Explica las ventajas del marketing directo, como dirigirse específicamente a los clientes objetivo y medir directamente los resultados de las campañas. También analiza factores como los cambios sociales que han contribuido al crecimiento del marketing directo.
El documento describe la evolución del dominio .com en México. Originalmente creado para uso comercial, .com se convirtió en el dominio más popular para sitios web, especialmente los comerciales. Aunque cualquier compañía puede registrar un dominio .com, muchos países como México tienen dominios de segundo nivel como .com.mx para compañías locales.
El documento habla sobre la marcha atlética y su reglamento. Detalla aspectos como la ausencia de fase de vuelo, la pierna debe avanzar recta y la hidratación. También menciona formas de practicar la marcha en la escuela con énfasis en la técnica antes que la velocidad y encuentros para todos.
This document provides an overview of a presentation on using social media and preparing for Web 3.0. It introduces the presenter Monique Ramsey and her experience in marketing and social media. It discusses how connected consumers are more empowered and influential online. It provides tips for optimizing websites, profiles and pages for Web 3.0 technologies like search engines, metadata and ontologies. Specific social media platforms like Facebook, Google+, Pinterest and others are also discussed.
Este documento trata sobre la planificación estratégica de recursos humanos. Explica que la planificación estratégica de recursos humanos ayuda a las empresas a predecir la demanda futura de empleados y a evaluar la oferta actual y futura de recursos humanos para identificar posibles excedentes o escaseces. También describe el proceso de planificación estratégica, que incluye pronosticar la demanda de empleados, analizar la oferta disponible actualmente y estimar la oferta futura para desarrollar alternativas que aborden cualquier
Presentation for CAUDIT's 2012 learning spaces tourS_Alexander
This document discusses linking pedagogy, technology, and learning spaces. It begins by outlining the need to work on learning spaces and the process of planning, designing, implementing, and evaluating new spaces. It then provides examples of the UTS model, which integrates exposure to professional practice, situates learning in a global context, and takes a research-inspired approach. Technologies and spaces must support curriculum aims and the learner. Student involvement in course activities and preferences for communication methods are shown. Finally, examples of new learning spaces at UTS are presented, along with student feedback and some dilemmas around issues like the future of face-to-face lectures and sustainability.
CIT Group reported a loss of $1.30 per share for the first quarter of 2009, with results impacted by high credit costs including loan loss reserves, and margin compression from tight credit markets. CIT made progress transferring assets into CIT Bank and raising over $700 million in deposits, while estimated capital ratios were 9.3% for Tier 1 and 13.0% for Total Capital. New business volume was $2.4 billion for the quarter, down from prior periods, reflecting weak market conditions. Credit quality deteriorated, with non-accrual loans up and net charge-offs increased to 2.78% of average loans. Expenses declined from prior periods due to restructuring.
Planificacion De Las Evaluciones Inf. Basica Ii 2008dalianaarias
Este documento presenta el plan de evaluaciones para el curso de Informática Básica en el lapso II de 2008. El curso se divide en tres períodos con diferentes contenidos y actividades. El primer período cubre el sistema operativo Linux, navegadores web, correo electrónico y procesador de texto. El segundo período trata sobre presentaciones digitales usando Impress. El tercer período enseña hojas de cálculo usando Calc. Cada período incluye clases, actividades prácticas, parciales y una evaluación final.
Francisco Solano López nació en Asunción, Paraguay en 1827. Se desempeñó como comandante en jefe de las Fuerzas Armadas paraguayas y sucedió a su padre Carlos Antonio López como presidente de Paraguay, liderando al país durante la Guerra de la Triple Alianza.
Este documento presenta una actividad para niños de 4 años sobre el conocimiento de su propio cuerpo. La actividad involucra dibujar y armar el cuerpo humano usando partes del cuerpo de colores recortadas. El objetivo es que los niños identifiquen y ubiquen las diferentes partes externas de su cuerpo. La actividad comienza con una charla y la presentación de un cuento, luego los niños dibujan y pegan las partes del cuerpo recortadas en su hoja, y finalmente decoran su dibujo.
La Unión Europea ha acordado un paquete de sanciones contra Rusia por su invasión de Ucrania. Las sanciones incluyen restricciones a las importaciones de productos rusos de alta tecnología y a las exportaciones de bienes de lujo a Rusia. Además, se congelarán los activos de varios oligarcas rusos y se prohibirá el acceso de los bancos rusos a los mercados financieros de la UE.
Boston Scientific announced financial results for the first quarter of 2009. Key highlights include:
- Worldwide sales of cardiac rhythm management products increased 9%, including a 13% rise in ICD sales. US CRM sales grew 11%, with a 14% increase in ICDs.
- The company expanded its worldwide drug-eluting stent market share to 44% and increased its US market share to 50%.
- Net sales were $2.01 billion, in line with guidance. Adjusted earnings per share were $0.19, at the high end of guidance range.
- For the second quarter, the company estimates net sales of $1.96-2.08 billion and adjusted EPS
La Constitución Política de los Estados Unidos Mexicanos (CPEUM) es el marco jurídico fundamental de México. Establece las bases del orden jurídico mexicano, la forma de gobierno y divide los poderes de la Unión. Además, garantiza los derechos humanos de los ciudadanos mexicanos y regula las instituciones del Estado.
El documento define el spam como correo electrónico o mensajes de texto no solicitados que se envían masivamente, las cookies como archivos que almacenan información sobre páginas web visitadas con frecuencia para facilitar el acceso, un cracker como alguien que usa sus conocimientos de sistemas de forma ilegal para violar la seguridad informática, y un hacker como alguien con esos mismos conocimientos pero que trabaja de forma legal con permiso.
I will use the first article for define the entry strategies
The second article for see the growth option value of investments in emerging economies.
Alternative modes of entry—greenfield, acquisition, and joint venture (JV)—allow firms to overcome different kinds of market inefficiencies related to both characteristics of the resources and to the institutional context. In a weaker institutional framework, JVs are used to access many resources, but in a stronger institutional framework, JVs become less important while acquisitions can play a more important role in accessing resources that are intangible and organizationally embedded
This document is RPM International Inc.'s quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes:
- Financial statements including the balance sheet, income statement, and cash flow statement for the quarter.
- Notes to the financial statements providing additional details.
- Management's discussion and analysis of financial condition and results of operations for the quarter.
- Disclosures around legal proceedings, risk factors, equity securities, and exhibits.
The financial statements show that for the quarter ended August 31, 2009, RPM reported net income of $73 million on net sales of $916 million. Cash provided by operating activities was $52 million for the quarter.
This document is Acuity Brands' quarterly report filed with the SEC for the quarter ending May 31, 2009. It includes the company's consolidated balance sheets, income statements, and cash flow statements for the periods presented. In the reporting period, Acuity Brands' net sales decreased from the prior year but net income increased. The company also used cash for investing activities, primarily acquisitions, and had net cash outflows from financing activities including debt repayments and dividend payments.
This document is Worthington Industries' quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes financial statements and notes for the quarter, as well as a discussion of financial results by management. Some key details include:
- Net sales for the quarter were $417.5 million, down from $913.2 million in the prior year quarter. The company reported a net loss of $4.5 million compared to net income of $79.7 million in the previous year.
- Inventories totaled $232.9 million as of August 31, 2009, down from $270.6 million as of May 31, 2009 as the company worked to reduce inventory levels.
This document is Symyx Technologies' quarterly report filed with the SEC for the period ending March 31, 2009. Symyx provides scientific informatics and experimentation tools to help life sciences, chemical, and consumer product companies optimize their R&D processes. For the quarter, Symyx reported total revenue of $33.4 million, gross profit of $22.7 million, and a net loss of $3.1 million. Key assets included $81.8 million in cash and cash equivalents, $39.2 million in goodwill, and $49.9 million in intangible assets. Liabilities included $68.5 million in current liabilities and $17.2 million in non
CDI Corp. filed a Form 10-Q with the SEC for the quarterly period ending March 31, 2009. The filing includes CDI's consolidated balance sheet, statement of operations, statement of shareholders' equity, and statement of cash flows for the periods ended March 31, 2009 and March 31, 2008. It also includes notes to the financial statements providing additional information. CDI provides business process outsourcing and professional services and saw declines in revenue and earnings compared to the prior year period due to the difficult economic environment.
This document is First Potomac Realty Trust's (FPO) Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2009. The report includes FPO's consolidated balance sheets, statements of operations, and statements of cash flows for the quarters ended March 31, 2009 and 2008. It also includes notes to the financial statements describing FPO's business, significant accounting policies, and other financial details.
This document is a Form 10-Q quarterly report filed by Chattem Inc. with the SEC for the quarter ended August 31, 2009. The report includes Chattem's consolidated financial statements and notes. It discusses financial results for the quarter including revenues of $115.2 million, net income of $23.4 million, and earnings per share of $1.23. The report also provides an analysis of Chattem's financial condition, results of operations, market risks, and controls and procedures.
This document is the quarterly report on Form 10-Q filed by A.M. Castle & Co. for the quarter ending March 31, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that net sales were $252 million for the quarter, with net income of $480 thousand. Cash flow from operations was $4.7 million for the quarter. The report provides the company's condensed financial position, results of operations, and cash flows for the quarter, as well as notes regarding new accounting standards adopted and the company's acquisition of Metals U.K. Group in January 2008.
This document is CBL & Associates Properties, Inc.'s 10-Q filing for the quarter ending March 31, 2009. It includes:
1) Condensed consolidated financial statements such as the balance sheet, income statement, and statement of cash flows for the quarter;
2) Notes to the financial statements providing additional information; and
3) Certification by management of the accuracy of the financial reporting.
- The document is The Dixie Group's Form 10-Q quarterly report filed with the SEC for the quarter ended March 28, 2009.
- It provides the company's consolidated condensed financial statements and notes for the quarter, including a net loss of $35.6 million compared to net income of $13,000 in the prior year quarter.
- Significant events contributing to the net loss include an $31.4 million non-cash impairment charge related to goodwill and $1.6 million in facility consolidation and severance expenses.
This 10-Q filing provides Constellation Brands' financial statements and disclosures for the quarterly period ended August 31, 2009. It includes a balance sheet, income statement, cash flow statement, and notes to the financial statements. It also discusses items such as accounting policies, details of business segments, commitments and contingencies, and recent accounting pronouncements.
This document provides an SEC quarterly report filed by Steiner Leisure Ltd for the period ending March 31, 2009. It includes Steiner Leisure's condensed consolidated balance sheet, statement of income, and statement of cash flows for the first quarter of 2009, as well as notes to the financial statements. The financial statements show that for the quarter, Steiner Leisure had total revenues of $117.1 million, net income of $7.9 million, and net cash provided by operating activities of $8.5 million.
This document is EarthLink Inc.'s Form 10-Q quarterly report filed with the SEC for the period ending March 31, 2009. It includes EarthLink's condensed consolidated financial statements and notes. Some key details:
- Revenues for the quarter were $199 million, down from $263 million in the prior year quarter. Income from continuing operations was $32.5 million, down from $55.1 million in the prior year quarter.
- As of March 31, 2009, EarthLink had total assets of $844 million including $472 million in cash and marketable securities. Total liabilities were $344 million including $223 million in long-term debt.
- EarthLink operates in two segments
This document is a quarterly report filed by UniFirst Corporation with the SEC for the quarter ended May 30, 2009. It includes UniFirst's consolidated financial statements and notes. The financial statements show that for the quarter, UniFirst reported revenues of $252 million, income from operations of $36.7 million, net income of $21.7 million, and basic earnings per share of $1.18 on common stock. The balance sheet details the company's assets, liabilities, and shareholders' equity as of May 30, 2009.
This document is a Form 10-Q quarterly report filed by Biogen Idec Inc. with the SEC for the quarter ended June 30, 2009. It includes financial statements such as the consolidated statement of income and balance sheet, as well as a discussion of the company's financial condition, results of operations, market risk exposure, and internal controls over financial reporting. The report provides shareholders and potential investors with information on Biogen Idec's financial position and operating performance for the quarter.
Similar to Q1 2009 Earning Report of Atmi Inc. (15)
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
- The document is Apple Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 27, 2009.
- It provides Apple's condensed consolidated financial statements and notes to the financial statements for the quarter.
- The financial statements show that Apple's net sales increased 12% to $8.3 billion for the quarter compared to $7.5 billion in the same quarter the previous year, while net income increased 15% to $1.2 billion from $1.1 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
This document provides an agenda and highlights for Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with investors. It includes introductions, a discussion of 4Q and FY performance and strategies, financial results, and a Q&A session. Key metrics highlighted are 7.6% sales growth and a 1.5% decline in net earnings for 4Q, and 7.3% sales growth and a 7% decline in net earnings for FY2009. The document also outlines Walgreen's strategies around healthcare reform, the flu season, and expanding their business model.
1) Infosys Technologies reported financial results for the quarter ending September 30, 2009, with revenues of $1.154 billion, a 5.1% decline from the previous year. Net income was $317 million, a 0.9% decline.
2) For the quarter ending December 31, 2009, Infosys expects revenues between $1.155-1.165 billion, a 1.4-0.5% decline from the previous year, and earnings per share of $0.50, a 13.8% decline.
3) For the full fiscal year ending March 31, 2010, Infosys expects revenues between $4.60-4.62 billion, a 1
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
PepsiCo held its 2009 Q3 earnings call on October 8, 2009. In the call, PepsiCo reaffirmed its guidance for 2009 of mid-to-high single digit constant currency net revenue and core EPS growth. PepsiCo also set a 2010 target of 11-13% core constant currency EPS growth, assuming the closing of acquisitions of PBG and PAS in early 2010. PepsiCo reported 5% constant currency net revenue growth and 8% core constant currency EPS growth in Q3 2009. PepsiCo highlighted investments planned for 2010 in areas such as R&D, emerging markets, brands, IT infrastructure, sustainability, and developing its employees.
- Alcoa held its 3rd quarter 2009 earnings conference call on October 7, 2009
- The call discussed Alcoa's financial results for the 3rd quarter of 2009 as well as the current state and outlook of the aluminum market
- Key highlights included income from continuing operations of $73 million, revenue up 9% sequentially, and initiatives offsetting currency and energy headwinds
The Pepsi Bottling Group reported third quarter 2009 results. Comparable diluted EPS was $1.06 and reported diluted EPS was $1.14. Currency neutral operating income grew 10% compared to the prior year on a comparable basis, while reported operating income declined 4% due to foreign exchange impacts. The company remains on track to achieve full-year 2009 guidance of $2.30-$2.40 diluted EPS at the high end of the range and has raised operating free cash flow guidance to approximately $550 million.
- Jean Coutu Group reported an increase in sales and revenues for the second quarter of 2010 compared to the same period last year. Total sales increased 7.7% to $549 million while revenues from franchising increased 7.3% to $608.7 million.
- Net earnings for the quarter were $14.9 million compared to a net loss of $39.1 million in the previous year. Earnings per share were $0.07 compared to a loss per share of $0.16 last year.
- Rite Aid also reported financial results for the second quarter, with revenues of $6.3 billion and a net loss of $116 million. Rite Aid revised its guidance
Minerva plc presented preliminary results for the year ended 30 June 2009. Key points included successfully restructuring and extending £750 million in loan facilities with no scheduled maturities in the current or next fiscal year. Development projects such as The Walbrook and St. Botolphs were on time and on budget. Tenant interest was improving for office developments in London's financial district despite a difficult real estate market.
The document provides the agenda and highlights from Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with analysts held on September 29, 2009. It discusses 4th quarter and fiscal year financial results including net sales growth of 7.6% and 7.3% respectively, adjusted earnings per share of $0.44 and $2.02, and prescription sales growth. The document also summarizes Walgreen's strategies around healthcare reform, the H1N1 flu pandemic, expanding health services and 90-day prescriptions to lower costs.
This document is TRC Companies Inc's annual report on Form 10-K for the fiscal year ending June 30, 2009. It provides an overview of the company's business operations, financial highlights, services offered, clients, competition, backlog, employees, contracts with government agencies, regulatory matters, properties, legal proceedings, and financial data. Key information includes descriptions of TRC's engineering, environmental and construction management services, major clients in transportation, energy and development sectors, and discussions of financial results, market risks, and legal cases.
Mosaic reported its 1st quarter fiscal 2010 earnings. Net sales were $1.5 billion, down from $4.3 billion in the prior year. Net earnings were $100.6 million compared to $1.2 billion last year. Mosaic expects global economic recovery to drive increased demand for grains and fertilizers. It is pursuing potash and phosphate expansion projects and maintaining competitive production to position itself for recovery. The presentation reviewed Mosaic's strategic priorities and outlook across its business segments.
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
3. Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2009
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file Number: 1-16239
ATMI, Inc.
(Exact name of registrant as specified in its charter)
Delaware 06-1481060
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
7 Commerce Drive, Danbury, CT 06810
(Address of principal executive offices) (Zip Code)
203-794-1100
Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any,
every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding
12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a
smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in
Rule 12b-2 of the Exchange Act (Check one):
Large accelerated filer Accelerated filer Non-accelerated filer Smaller reporting company
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes No
The number of shares outstanding of the registrant’s common stock as of March 31, 2009 was 31,357,462.
4. ATMI, INC.
Quarterly Report on Form 10-Q
For the Quarter Ended March 31, 2009
TABLE OF CONTENTS
Page
Part I — Financial Information
Item 1. Financial Statements
Consolidated Balance Sheets (unaudited) 3
Consolidated Statements of Operations (unaudited) 4
Consolidated Statement of Stockholders’ Equity (unaudited) 5
Consolidated Statements of Cash Flows (unaudited) 6
Notes to Consolidated Interim Financial Statements (unaudited) 7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 18
Item 3. Quantitative and Qualitative Disclosures About Market Risk 26
Item 4. Controls and Procedures 27
Part II — Other Information
Item 1. Legal Proceedings 28
Item 1A. Risk Factors 28
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28
Item 5. Other Information 28
Item 6. Exhibits 29
Signatures 30
Exhibits 31
Exhibit 31.1
Exhibit 31.2
Exhibit 32
2
5. Table of Contents
PART I — FINANCIAL INFORMATION
Item 1. Financial Statements
ATMI, Inc.
Consolidated Balance Sheets
(in thousands, except per share data)
March 31, December 31,
2009 2008
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 62,537 $ 54,626
Marketable securities, current portion 33,073 37,739
Accounts receivable, net of allowances of $2,458 and $958, respectively 24,336 42,229
Inventories, net 53,140 55,986
Income taxes receivable 9,098 4,847
Deferred income taxes 6,111 6,947
Prepaid expenses and other current assets 16,798 15,585
Total current assets 205,093 217,959
Property, plant, and equipment, net 125,720 136,425
Goodwill 33,317 33,355
Other intangibles, net 25,858 27,202
Marketable securities, non-current 2,615 3,655
Deferred income taxes, non-current 2,052 1,581
Other long-term assets 31,843 32,887
Total assets $ 426,498 $ 453,064
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable $ 11,947 $ 12,867
Accrued liabilities 6,735 5,277
Accrued salaries and related benefits 4,129 6,445
Income taxes payable 635 635
Loans and notes payable, current 172 1,102
Other current liabilities 1,700 1,538
Total current liabilities 25,318 27,864
Deferred income taxes, non-current 1,931 5,469
Other long-term liabilities 11,045 10,834
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock, par value $.01 per share: 2,000 shares authorized; none issued — —
Common stock, par value $.01 per share: 100,000 shares authorized; 39,321 and 39,199
issued and 31,358 and 31,268 outstanding in 2009 and 2008, respectively 393 392
Additional paid-in capital 422,638 421,040
Treasury stock at cost (7,963 and 7,931 shares in 2009 and 2008, respectively) (227,612) (227,101)
Retained earnings 195,876 214,300
Accumulated other comprehensive income (loss) (3,091) 266
Total stockholders’ equity 388,204 408,897
Total liabilities and stockholders’ equity $ 426,498 $ 453,064
See accompanying notes.
3
6.
7. Table of Contents
ATMI, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands, except per share data)
Three Months Ended
March 31,
2009 2008
Revenues $ 37,362 $ 92,797
Cost of revenues 30,431 46,431
Gross profit 6,931 46,366
Operating expenses:
Research and development 11,651 8,492
Selling, general and administrative 22,240 22,705
Total operating expenses 33,891 31,197
Operating income (loss) (26,960) 15,169
Interest income 465 953
Impairment of investments (2,486) —
Other loss, net (125) (691)
Income (loss) before income taxes (29,106) 15,431
Provision (benefit) for income taxes (10,682) 5,046
Net income (loss) $ (18,424) $ 10,385
Earnings (loss) per common share — basic $ (0.59) $ 0.32
Weighted average shares outstanding — basic 31,376 31,994
Earnings (loss) per common share — diluted $ (0.59) $ 0.32
Weighted average shares outstanding — diluted 31,376 32,800
See accompanying notes.
4
8. Table of Contents
ATMI, INC.
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY
(unaudited)
(in thousands)
Accumulated
Additional Other
Common Paid-in Treasury Retained Comprehensive
Stock Capital Stock Earnings Income (Loss) Total
Balance at December 31, 2008 $ 392 $ 421,040 $(227,101) $ 214,300 $ 266 $ 408,897
Purchase of 32 treasury shares — — (511) — — (511)
Equity based compensation — 2,027 — — — 2,027
Income tax benefit from equity-
based compensation — (428) — — — (428)
Other 1 (1) — — — —
Net loss — — — (18,424) — (18,424)
Reclassification adjustment related
to losses recognized on
marketable securities net of
($536) tax benefit — — — — 913 913
Change in fair value on available-
for-sale securities net of deferred
income tax of ($34) — — — — 58 58
Cumulative translation adjustment — — — — (4,328) (4,328)
Comprehensive loss — — — — — (21,781)
Balance at March 31, 2009 $ 393 $ 422,638 $(227,612) $ 195,876 $ (3,091) $ 388,204
See accompanying notes .
5
9. Table of Contents
ATMI, Inc.
Consolidated Statements of Cash Flows
(unaudited)
(in thousands)
Three Months Ended
March 31,
2009 2008
Operating activities
Net income (loss) $ (18,424) $ 10,385
Adjustments to reconcile net income (loss) to cash provided by operating activities:
Depreciation and amortization 6,849 5,612
Provision for bad debts 1,500 —
Provision for inventory obsolescence 1,060 520
Deferred income taxes (3,629) 42
Income tax benefit from share-based payment arrangements (428) (90)
Excess tax benefit from share-based payment arrangements — (108)
Equity-based compensation expense 2,027 2,360
Long-lived asset impairments 6,227 40
Loss from equity-method investments 232 319
Impairment on investments 2,486 —
Other 7 —
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable 15,641 4,247
Inventories 262 (4,119)
Other assets (1,023) (561)
Accounts payable (729) 3,946
Accrued expenses (760) (6,903)
Income taxes (4,263) 4,226
Other liabilities 432 1,577
Net cash provided by operating activities 7,467 21,493
Investing activities
Capital expenditures (2,524) (18,733)
Proceeds from the sale of property, plant & equipment 28 25
Acquisitions, net of cash acquired — (27,486)
Purchases of marketable securities (14,548) (1,970)
Proceeds from sales or maturities of marketable securities 18,598 33,509
Net cash provided by (used for) investing activities 1,554 (14,655)
Financing activities
Excess tax benefit from share-based payment arrangements — 108
Purchases of treasury stock (511) (59,212)
Proceeds from exercise of stock options — 712
Credit line borrowings 3,872 —
Credit line repayments (4,802) —
Other (16) (224)
Net cash used for financing activities (1,457) (58,616)
Effects of exchange rate changes on cash and cash equivalents 347 (1,822)
Net increase (decrease) in cash and cash equivalents 7,911 (53,600)
Cash and cash equivalents, beginning of period 54,626 104,807
Cash and cash equivalents, end of period $ 62,537 $ 51,207
See accompanying notes.
6
10. Table of Contents
ATMI, Inc.
Notes To Consolidated Interim Financial Statements
(unaudited)
1. Description of Business
ATMI, Inc. (the “Company,” “ATMI,” or “we”) believes it is among the leading suppliers of high performance materials,
materials packaging and materials delivery systems used worldwide in the manufacture of microelectronics devices. Our
products consist of “front-end” semiconductor performance materials, sub-atmospheric pressure gas delivery systems for safe
handling and delivery of toxic and hazardous gases to semiconductor process equipment, high-purity materials packaging and
dispensing systems that allow for the reliable introduction of low volatility liquids and solids to microelectronics and
biopharmaceutical processes. ATMI targets both semiconductor and flat-panel display manufacturers, whose products form the
foundation of microelectronics technology rapidly proliferating through the consumer products, information technology,
automotive, and communications industries. The market for microelectronics devices is continually changing, which drives
demand for new products and technologies at lower cost. ATMI’s customers include many of the leading semiconductor and flat-
panel display manufacturers in the world who target leading edge technologies. ATMI also addresses an increasing number of
critical materials handling needs for the life sciences markets. Our proprietary containment, mixing, and bioreactor technologies
are sold to the biotechnology and laboratory markets, which we believe offer significant growth potential. ATMI’s objective is to
meet the demands of the microelectronics and life sciences markets with solutions that maximize the efficiency of their
manufacturing processes, reduce capital costs, and minimize the time to implement new processes and deliver new products.
2. Significant Accounting Policies and Other Information
Basis of Presentation
The accompanying consolidated interim financial statements of ATMI, Inc. at March 31, 2009 and for the quarters ended
March 31, 2009 and 2008 are unaudited, but in the opinion of management include all adjustments (consisting only of normal
recurring adjustments) necessary for a fair presentation of the results for the interim periods. These unaudited consolidated
interim financial statements included herein should be read in conjunction with the December 31, 2008 audited consolidated
financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31,
2008. The Company’s quarterly results are subject to fluctuation and, thus, the operating results for any quarter are not
necessarily indicative of results to be expected for any future fiscal period.
The consolidated Balance Sheet at December 31, 2008 has been derived from the audited financial statements at that date,
but does not include all of the financial information and disclosures required by GAAP for complete financial statements.
7
11. Table of Contents
Earnings (Loss) Per Share
This table shows the computation of basic and diluted earnings (loss) per share (in thousands, except per share data):
Three Months Ended
March 31,
2009 2008
Numerator:
Net income (loss) $ (18,424) $ 10,385
Denominator:
Denominator for basic earnings (loss) per share — weighted average shares 31,376 31,994
Dilutive effect of employee stock options — 427
Dilutive effect of restricted stock — 379
Denominator for diluted earnings (loss) per common share — weighted average shares 31,376 32,800
Earnings (loss) per share-basic $ (0.59) $ 0.32
Earnings (loss) per share-diluted $ (0.59) $ 0.32
The following are the potential common shares which were excluded from the calculation of weighted-average shares
outstanding because their effect was considered to be antidilutive (in thousands):
March 31,
2009 2008
Antidilutive Shares 2,003 742
Inventories
Inventories include (in thousands):
March 31, December 31,
2009 2008
Raw materials $ 15,630 $ 15,588
Work in process 1,240 1,209
Finished goods 39,284 41,558
56,154 58,355
Excess and obsolescence reserve (3,014) (2,369)
Inventories, net $ 53,140 $ 55,986
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In the first quarter of 2009, we recognized a $1.1 million charge to increase our reserves for excess and obsolete inventories
to cover product discontinuances and expected chemical shelf-life issues in our microelectronics product lines.
Income Taxes
We have not provided for U.S. federal income and foreign withholding taxes on approximately $43.5 million of
undistributed earnings from non-U.S. operations as of March 31, 2009, because such earnings are intended to be reinvested
indefinitely outside of the United States. These earnings could become subject to additional tax if they are remitted as dividends,
loaned to ATMI, or upon sale of subsidiary stock. It is not practicable to estimate the amount or timing of the additional tax, if
any, that eventually might be paid on the foreign earnings.
Our effective income tax benefit rate was 36.7 percent for the three-month period ended March 31, 2009. The effective
income tax benefit rate differs from the U.S. federal statutory income tax rate of 35.0 percent primarily due to the mix of income
attributable to the various countries in which we conduct business.
At March 31, 2009, we had $6.1 million of unrecognized tax benefits, which, if recognized, would favorably affect the
effective income tax rate in future periods. This amount is included in the caption “Other long-term liabilities” on the
Consolidated Balance Sheets, together with $1.0 million of accrued interest (net) on tax reserves and $0 accrued for penalties.
It is reasonably possible that in the next 12 months, because of changes in facts and circumstances, the unrecognized tax
benefits for tax positions taken related to previously filed tax returns may decrease. The range of possible decrease is zero to
$1.1 million. The Company is currently undergoing an IRS audit for its 2006 and 2007 tax years in the United States.
Goodwill and Other Intangible Assets
Goodwill and Other intangibles balances at March 31, 2009 and December 31, 2008 were (in thousands):
Patents & Total Other
Goodwill Trademarks Other Intangibles
Gross Amount as of December 31, 2008 $ 33,355 $ 40,003 $ 7,001 $ 47,004
Accumulated amortization — (14,777) (5,025) (19,802)
Balance as of December 31, 2008 $ 33,355 $ 25,226 $ 1,976 $ 27,202
Gross Amount as of March 31, 2009 $ 33,317 $ 39,760 $ 6,996 $ 46,756
Accumulated amortization — (15,772) (5,126) (20,898)
Balance as of March 31, 2009 $ 33,317 $ 23,988 $ 1,870 $ 25,858
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Changes in carrying amounts of Goodwill and Other Intangibles for the three months ended March 31, 2009 were (in
thousands):
Patents & Total Other
Goodwill Trademarks Other Intangibles
Balance at December 31, 2008 $ 33,355 $ 25,226 $ 1,976 $ 27,202
Amortization — (995) (103) (1,098)
Other, including foreign currency translation (38) (243) (3) (246)
Balance at March 31, 2009 $ 33,317 $ 23,988 $ 1,870 $ 25,858
Variable Interest Entity
In July 2005, ATMI purchased 30 percent of the outstanding common stock of Anji Microelectronics Co., Ltd. (“Anji”), an
entity in the development stage of researching and developing advanced semiconductor materials, with primary operations in
Shanghai, China. We have determined that Anji is a variable interest entity, in accordance with Financial Accounting Standards
Board (“FASB”) Interpretation No. 46(R), “Consolidation of Variable Interest Entities” (“FIN 46R”). However, we have
determined that we are not the primary beneficiary of Anji because we are not expected to absorb the majority of the expected
losses, nor would ATMI receive a majority of the expected residual returns. ATMI accounts for this investment using the equity
method of accounting. The carrying value of ATMI’s investment in Anji exceeds ATMI’s share of Anji’s net assets by
approximately $5.6 million. The carrying value of our investment in Anji represents the cash paid, less our share of the losses,
and pursuant to an independent valuation obtained, the excess purchase price over the underlying net assets is deemed to be
goodwill. At March 31, 2009 the fair value of a guarantee ATMI provided on behalf of Anji was $0.2 million (see Note 5), and
our maximum exposure to loss is $9.2 million, and consists of $5.9 million of our carrying value in this investment, plus
$3.3 million outstanding under Anji’s bank line of credit, which is guaranteed by ATMI.
Recently Issued Accounting Pronouncements
In April 2009, the FASB issued FSP FAS 107-1 and APB 28-1, “Interim Disclosures about Fair Value of Financial
Instruments.” This FASB Staff Position (“FSP”) amends Statement of Financial Accounting Standard (“SFAS”) No. 107,
“Disclosures About Fair Value of Financial Instruments,” to require disclosures about fair value of financial instruments for
interim reporting periods of publicly traded companies as well as in annual financial statements. This FSP also amends APB
Opinion No. 28, “Interim Financial Reporting,” to require those disclosures in summarized financial information at interim
reporting periods. This FSP is effective for interim reporting periods ending after June 15, 2009, with early adoption permitted
for periods ending after March 15, 2009. The FSP does not require disclosures for earlier periods presented for comparative
purposes at initial adoption. In periods after initial adoption, this FSP requires comparative disclosures only for periods ending
after initial adoption. We do not expect the changes associated with adoption of this FSP will have a material effect on the
determination or reporting of our financial results.
In April 2009, the FASB issued FSP FAS 115-2 and FAS 124-2, “Recognition and Presentation of Other-Than-Temporary
Impairments.” This FSP amends the other-than-temporary impairment guidance for debt securities to make the guidance more
operational and to improve the presentation and disclosure of other-than-temporary impairments on debt and equity securities in
the financial statements. This FSP does not amend existing recognition and measurement guidance related to other-than-
temporary impairments of equity securities. This FSP is effective for interim and annual reporting periods ending after June 15,
2009, with early adoption permitted for periods ending after March 15, 2009. The FSP does not require disclosures for earlier
periods presented for comparative purposes at initial adoption. In periods after initial adoption, this FSP requires comparative
disclosures only for periods ending after initial adoption. We do not expect the changes associated with adoption of this FSP will
have a material effect on the determination or reporting of our financial results.
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14. Table of Contents
In April 2009, the FASB issued FSP FAS 157-4, “Determining Fair Value When the Volume and Level of Activity for the
Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly.” This FSP provides
additional guidance for estimating fair value in accordance with SFAS No. 157, “Fair Value Measurements,” when the volume
and level of activity for the asset or liability have significantly decreased. This FSP also includes guidance on identifying
circumstances that indicate a transaction is not orderly. This FSP is effective for interim and annual reporting periods ending
after June 15, 2009, with early adoption permitted for periods ending after March 15, 2009. The FSP does not require disclosures
for earlier periods presented for comparative purposes at initial adoption. In periods after initial adoption, this FSP requires
comparative disclosures only for periods ending after initial adoption. We do not expect the changes associated with adoption of
this FSP will have a material effect on the determination or reporting of our financial results.
Recently Adopted Accounting Standards
In March 2008, the FASB issued SFAS No. 161, “Disclosures about Derivative Instruments and Hedging Activities, an
amendment of FASB Statement No. 133” (“SFAS 161”). This Statement requires enhanced disclosures for derivative
instruments, including those used in hedging activities. We adopted this new standard effective January 1, 2009—see Note 7 for
disclosures associated with adoption of this standard.
Effective January 1, 2009, we implemented SFAS No. 157, “Fair Value Measurements,” for our nonfinancial assets and
liabilities that are remeasured at fair value on a non-recurring basis. See Note 6 for disclosures associated with adoption of this
standard.
Other
During the first quarter of 2009, we recognized a $1.5 million charge to increase our reserves for bad debt to cover
exposures related to customer bankruptcy filings and uncertainties of collections due to the current general macroeconomic
conditions.
As a result of the global economic recession and related impact on our business, we amended an alliance agreement, which
reduces expenses for the remainder of 2009 by $3.0 million to better align the timing of HPD platform support activities to
expected customer integration activities. The amendment reduces the amount we will pay for support activities in 2009 and
confirms commitments to pay for incremental activities in 2010.
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15. Table of Contents
3. Equity-Based Compensation
Summary of Plans
This table shows the number of shares approved by stockholders for each plan and the number of shares that remain
available for equity awards at March 31, 2009 (in thousands):
# of Shares # of Shares
Stock Plan Approved Available
2000 Stock Plan (1) 2,000 80
2003 Stock Plan (1) 3,000 792
Employee Stock Purchase Plan (2) 1,000 284
Totals 6,000 1,156
(1) Exercise prices for ISOs and non-qualified stock options granted under this plan may not be less than 100 percent of the fair
market value for the Company’s common stock on the date of grant.
(2) Effective January 1, 2007, this plan was amended such that employees may purchase shares at 95 percent of the closing
price on the day previous to the last day of each six-month offering period. This plan is not considered to be compensatory,
as defined by SFAS No. 123(R).
The Company did not issue any shares of common stock as a result of exercises by employees under its employee stock
option plans during the first quarter of 2009. Such amount was 60,415 shares of common stock during the fiscal year ended
December 31, 2008. The Company issued 120,839 shares of restricted stock that include only a time-based vesting requirement
in the first quarter of 2009, and such amount was 269,632 during the fiscal year ended December 31, 2008.
The Company issued 211,585 shares and 151,513 shares of restricted stock to its executive officers that include
performance-based as well as time-based vesting requirements in the first quarter of 2009 and during the fiscal year ended
December 31, 2008, respectively. In the first quarter of 2009, 144,187 of the 2008 awards were forfeited as a result of the failure
to achieve the long-term operating income growth targets established by the Board of Directors.
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16. Table of Contents
4. Comprehensive Income
The components of comprehensive income (loss) are (in thousands):
Three Months Ended
March 31,
2009 2008
Net income (loss) $ (18,424) $ 10,385
Cumulative translation adjustment (1) (4,328) 1,455
Change in fair value on available-for-sale securities net of deferred income tax of ($34)
in 2009 and $63 in 2008 58 (107)
Reclassification adjustment to earnings related to derivative financial instruments at
prior period end, net of deferred income tax of $0 in 2009 and $291 in 2008 — (495)
Reclassification adjustment related to losses recognized on marketable securities net of
($536) tax benefit in 2009 and $1 tax provision in 2008 (2) 913 (2)
Comprehensive income (loss) $ (21,781) $ 11,236
(1) The 2009 change relates to changes in the Korean Won, Euro, and Japanese Yen vs. the U.S. Dollar.
(2) Determined based on the specific identification method.
5. Commitments and Contingencies
ATMI is, from time to time, subject to legal actions, governmental audits, and proceedings relating to various matters
arising out of its business, which may include contract disputes, product claims, employment matters, export and trade matters,
and environmental claims. While the outcome of such matters cannot be predicted with certainty, in the opinion of management,
after reviewing such matters and consulting with ATMI’s counsel and considering any applicable insurance or indemnifications,
any liability which may ultimately be incurred is not expected to materially affect ATMI’s consolidated financial position, cash
flows or results of operations.
ATMI has entered into a pledge agreement with Anji Microelectronics Co., Ltd. (“Anji”) for the issuance of a standby letter
of credit up to $4.6 million in order to assist Anji in securing bank financing, which is to expire no later than June 30, 2010. The
standby letter of credit has been secured by Anji’s assets and additional equity interests in Anji’s operating subsidiaries. As of
March 31, 2009, Anji has drawn down $3.3 million against the line of credit secured by the letter of credit. At March 31, 2009,
considering independent credit rating agency research, and our knowledge of their business, Anji is an acceptable credit risk.
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17. Table of Contents
6. Fair Value Measurements
SFAS No. 157 applies to all financial assets and financial liabilities that are being measured and reported on a fair value
basis. The Statement requires that fair value measurements be classified and disclosed in one of the following three categories:
Level 1 — Quoted prices in active markets for identical assets and liabilities. Level 1 assets and liabilities consist of cash,
certificates of deposit, money market fund deposits, certain of our marketable equity instruments, and forward foreign currency
exchange contracts that are traded in an active market with sufficient volume and frequency of transactions.
Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in
markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all
significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially
the full term of the assets or liabilities. Level 2 assets include certain of our marketable debt instruments with quoted market
prices that are traded in less active markets or priced using a quoted market price for similar instruments.
Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets
or liabilities. Level 3 assets consisted of one Massachusetts Educational Financing Authority (“MEFA”) auction rate security,
comprising part of a student loan portfolio, with a par value of $5.0 million, a stated maturity date in 2038, and a reset date of
March 12, 2010 and certain long-lived assets to be held and used.
In March 2009, the annual auction for the MEFA security failed and the tax-exempt coupon rate of interest was reset to
1.15 percent from its previous rate of 6.55 percent. We will not have access to these funds until a future auction for this auction
rate security is successful, the security has been called by the issuer, or until we sell the security in a secondary market. In the
quarter ended March 31, 2009, we recorded an impairment charge of $2.4 million in the consolidated statements of operations,
which represents the difference between the cost basis and estimated fair value of this auction-rate security, based upon an
independent third-party valuation we obtained. We recorded this impairment charge because we can no longer demonstrate that
we are committed to holding this security until the market recovers or until maturity. The valuation incorporated assumptions
about the anticipated term and the yield that a market participant would require to purchase such a security in the current market
environment. At March 31, 2009, we have included the fair value of this security under the caption “Marketable securities, non-
current” in the consolidated balance sheets.
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18. Table of Contents
Assets / Liabilities Measured at Fair Value on a Recurring Basis
This table summarizes the Company’s assets measured at fair value on a recurring basis at March 31, 2009 (in thousands):
Fair Value Measured Using
Quoted
Prices in Other
Active Observable Unobservable
Markets Inputs Inputs
Total (Level 1) (Level 2) (Level 3)
Cash, cash equivalents, and available-for-sale
marketable securities $ 98,225 $ 73,187 $ 22,423 $ 2,615
Foreign currency exchange contract assets $ 220 $ 220 — —
This table presents a reconciliation for all assets and liabilities measured at fair value on a recurring basis using significant
unobservable inputs (Level 3) for the three months ended March 31, 2009 (in thousands).
Fair Value Measurements Using
Significant Unobservable Inputs
(Level 3)
Available-For-Sale
Marketable
Securities Total
Balance at December 31, 2008 $ 3,655 $ 3,655
Total gains (losses), realized and unrealized:
Included in net income (2,385) (2,385)
Reclassified from accumulated other comprehensive income 1,345 1,345
Purchases, issuances, and settlements, net — —
Transfers into (out of) Level 3 — —
Balance at March 31, 2009 $ 2,615 $ 2,615
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19. Table of Contents
Assets / Liabilities Measured at Fair Value on a Nonrecurring Basis
In accordance with the provisions of SFAS No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets,”
long-lived assets held and used with a carrying amount of $6.9 million were written down to their estimated fair values of
$0.7 million, resulting in an impairment charge of $6.2 million during the first quarter of 2009. The fair value measurements
were calculated using unobservable inputs (primarily using discounted cash flow analyses and reliance on market knowledge of
internal experts), classified as Level 3, requiring significant management judgment due to the absence of quoted market prices or
observable inputs for assets of a similar nature. $2.9 million of the impairment charge is included in cost of revenues and is
primarily related to the planned idling of manufacturing capacity of our gas products, which manufacturing we currently expect
to transition to a manufacturing and distribution partner to eliminate a redundant cost structure. $1.5 million of the impairment
charge is included in research and development expense and is related primarily to idled equipment used in our research and
development efforts. $1.8 million of the impairment charge is included in selling, general and administrative expense and is
primarily related to redundant enterprise management software.
Due to their nature, the carrying value of cash, receivables, and payables approximates fair value.
7. Derivatives
We use forward foreign currency exchange contracts to hedge specific or anticipated exposures relating to intercompany
payments (primarily U.S. export sales to subsidiaries at pre-established U.S. dollar prices), intercompany loans and other specific
and identified exposures. The terms of the forward foreign currency exchange contracts are matched to the underlying
transaction being hedged, and are typically under one year. Because such contracts are directly associated with identified
transactions, they are an effective hedge against fluctuations in the value of the foreign currency underlying the transaction.
Changes in the fair value of derivatives designated as fair-value hedges are recognized in earnings as an offset to the change
in the fair values of the underlying exposures being hedged. The changes in fair value of derivatives that are designated as cash-
flow hedges are deferred in accumulated other comprehensive income (loss) and are recognized in earnings as the underlying
hedged transaction occurs. Any ineffectiveness is recognized in earnings immediately. We do not enter into derivative
instruments for trading or speculative purposes and all of our derivatives were highly effective throughout the periods reported.
At March 31, 2009, we did not have any cash flow hedges outstanding.
Counterparties to forward foreign currency exchange contracts are primarily major banking institutions with credit ratings
of investment grade or better and no collateral is required. There are no significant risk concentrations. We believe the risk of
incurring losses on derivative contracts related to credit risk is remote.
We recorded a gain of $0.4 million for the quarter ended March 31, 2009, and a loss of $0.6 million for the quarter ended
March 31, 2008, under the caption “Other loss, net” in the consolidated statements of operations, related to changes in the fair
value of our financial instruments for forward foreign currency exchange contracts accounted for as fair value hedges.
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20. Table of Contents
8. Segments
ATMI is organized along functional lines of responsibility, whereby each member of the Company’s executive team has
global responsibility for each respective functional area, such as supply chain operations, sales, marketing, and research and
development. The executive team is the chief operating decision maker of ATMI. Discrete financial information is only prepared
at the product-line level for revenues and certain direct costs. Functional results are reviewed at the consolidated level. ATMI’s
operations comprise one operating segment.
ATMI derives virtually all its revenues from providing materials and packaging products and related integrated process
solutions to microelectronics and life sciences manufacturers. All of ATMI’s products are consumed or used in the front-end
manufacturing process. They span many different technology applications at various stages of maturity and in many cases are
inter-related in their application to a customer’s process.
Revenues from external customers, by product type, were as follows (in thousands):
Three Months Ended
March 31,
2009 2008
Microelectronics $ 31,685 $ 85,504
Life sciences $ 5,677 7,293
Total $ 37,362 $ 92,797
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21. Table of Contents
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Three Months Ended March 31, 2009 as Compared to 2008
Cautionary Statements Under the Private Securities Litigation Reform Act of 1995
Disclosures included in this Form 10-Q contain “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking
statements may be identified by words such as “anticipate,” “plan,” “believe,” “seek,” “estimate,” “expect,” “could,” and words
of similar meanings and include, without limitation, statements about the expected future business and financial performance of
ATMI such as financial projections, expectations for demand and sales of new and existing products, customer and supplier
relationships, research and development programs, market and technology opportunities, international trends, business strategies,
business opportunities, objectives of management for future operations, microelectronics industry (including wafer start) growth,
and trends in the markets in which the Company participates. Forward-looking statements are based on management’s current
expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult
to predict. Actual outcomes and results may differ materially from these expectations and assumptions because of changes in
political, economic, business, competitive, market, regulatory, and other factors. Certain factors that could cause such differences
include:
• disruptions in global credit and financial markets, including severely diminished liquidity and credit availability, declines in
consumer confidence, declines in economic growth, increases in unemployment rates, and uncertainty about economic
stability;
• cyclicality in the markets in which we operate;
• aggressive management of inventory levels by our customers and their customers;
• variation in profit margin performance caused by decreases in shipment volume, reductions in, or obsolescence of,
inventory, inefficiencies in production facilities and shifts in product mix;
• availability of supply from a single or limited number of suppliers or upon suppliers in a single country;
• intensely competitive markets for our products;
• changes in export controls and other laws or policies, as well as the general political and economic conditions, exchange
rate fluctuations, security risks, health conditions and possible disruptions in transportation networks, of the various
countries in which we operate;
• potential natural disasters in locations where we, our customers, or our suppliers operate;
• loss, or significant curtailment, of purchases by one or more of our largest customers;
• inability to meet customer demand from quarter to quarter, causing us to incur expedited shipping costs or hold excess or
obsolete inventory;
• taxation and audit by taxing authorities in the various countries in which we operate;
• intense competition for highly skilled scientific, technical, managerial and marketing personnel;
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22. Table of Contents
• inability to continue to anticipate rapidly changing technologies and market trends, to enhance our existing products and
processes, to develop and commercialize new products and processes, and to expand through selected acquisitions of
technologies or businesses or other strategic alliances;
• inability to protect our competitive position via our patents, patent applications, and licensed technology in the United
States and other countries; restrictions on our ability to make and sell our products as a result of competitors’ patents; costly
and time-consuming patent litigation;
• risk of product claims beyond existing insurance coverage levels resulting from the manufacture and sale of our products,
which include thin film and other toxic materials;
• inability to realize the anticipated benefits of acquisitions due to difficulties integrating acquired businesses with our current
operations;
• governmental regulations related to the storage, use, and disposal of certain toxic or otherwise hazardous chemicals in our
manufacturing, processing and research and development activities, as well as regulations applicable to both operators and
owners of property where releases of hazardous substances may have occurred (including releases by prior occupants); and
• uncertainty regarding compliance matters and higher costs resulting from changing laws, regulations and standards relating
to corporate governance and public disclosure, including the Sarbanes-Oxley Act of 2002, and new regulations from the
SEC.
These risks and uncertainties are described in more detail in the Company’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2008, and our other subsequent filings with the Securities and Exchange Commission (SEC) and in
materials incorporated by reference in these filings. These cautionary statements are not meant to be an exhaustive discussion of
risks that apply to companies like ATMI with broad international operations. The current global economic uncertainties affect
businesses such as ours in a number of ways, making it difficult to accurately forecast and plan our future business activities. The
current tightening of credit in financial markets and the general economic downturn has lead consumers and businesses to
postpone spending, which has caused our customers to delay orders with us. In addition, financial difficulties experienced by our
suppliers or distributors could result in product delays, increased accounts receivable defaults and inventory challenges. We are
unable to predict the likely duration and severity of the current disruptions in the credit and financial markets and adverse global
economic conditions, and if the current uncertain economic conditions continue or further deteriorate, our business and results of
operations could continue to be materially and adversely affected. Similarly, the price of our common stock is subject to
volatility due to fluctuations in general market conditions, differences in our results of operations from estimates and projections
generated by the investment community, and other factors beyond our control. ATMI undertakes no obligation to update publicly
or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as
required by law.
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23. Table of Contents
Company Overview
We believe we are among the leading suppliers of high performance materials, materials packaging and materials delivery
systems used worldwide in the manufacture of microelectronics devices. Our products consist of “front-end” semiconductor
performance materials, sub-atmospheric pressure gas delivery systems for safe handling and delivery of toxic and hazardous
gases to semiconductor process equipment, high-purity materials packaging and dispensing systems that allow for the reliable
introduction of low volatility liquids and solids to microelectronics and biopharmaceutical processes. ATMI targets both
semiconductor and flat-panel display manufacturers, whose products form the foundation of microelectronics technology rapidly
proliferating through the consumer products, information technology, automotive, and communications industries. The market
for microelectronics devices has historically grown and is continually changing, which drives demand for new products and
technologies at lower cost. ATMI’s customers include many of the leading semiconductor and flat-panel display manufacturers
in the world who target leading edge technologies. ATMI also addresses an increasing number of critical materials handling
needs for the life sciences markets. Our proprietary containment, mixing, and bioreactor technologies are sold to the
biotechnology and laboratory markets, which we believe offer significant growth potential. ATMI’s objective is to meet the
demands of microelectronics and life sciences markets with solutions that maximize the efficiency of their manufacturing
processes, reduce capital costs, and minimize the time to implement new processes and deliver new products.
Results of Operations
Executive Summary
During the first quarter of 2009, ATMI’s revenues declined by 59.7 percent compared to the first quarter of 2008, primarily
due to the global economic downturn, which began in earnest in the second half of 2008 and drove significant declines in
demand across most segments of the economy. The decline in our revenues was further magnified by excess inventory in the
SDS ® distribution channel, as well as our customers’ aggressive management of their inventories. Future reductions in wafer
starts and continued low fab utilization rates in the microelectronics industry, including foundries, and other logic and memory
chip manufacturers, are expected to adversely affect the Company’s near term results. In the first quarter of 2009 we recognized
a $6.2 million ($2.9 million in cost of revenues, $1.5 million in research and development, and $1.8 million in selling, general
and administrative) impairment charge for long-lived assets that are being held and used, but are either redundant or being idled
due to uncertainties of future demand, a $2.4 million impairment charge for an auction-rate security, $1.5 million of bad debt
expense, and a $1.1 million charge for excess and obsolete inventories. As a result of the global recession, we have implemented,
and continue to implement, cost-reduction actions to better align the Company’s activities with expectations for customer
demand for our products and to preserve cash, without hindering our commitment to make investments that we expect to drive
future growth. These actions resulted in lower costs in the first quarter of 2009 compared to the first quarter of 2008 in the
following areas: salaries and incentives ($3.4 million); travel ($1.9 million), and recruiting and relocation spending
($0.3 million). We also amended an alliance agreement in order to better align the timing of support activities related to our high-
productivity development (“HPD”) platform to the expected timing of our customer integration activities, which will reduce
expenses for the remainder of 2009 by $3.0 million. As a result of the global recession and the charges discussed above, we
incurred a net loss of $18.4 million ($0.59 per diluted share) in the first quarter of 2009 compared to net income of $10.4 million
($0.32 per diluted share) in the first quarter of 2008.
Going forward, business and market uncertainties may continue to affect results. See “Cautionary Statements Under the
Private Securities Litigation Reform Act of 1995” above and Management’s Discussion and Analysis in our Annual Report on
Form 10-K for the fiscal year ended December 31, 2008 for a full discussion of the key factors which affect our business and
operating results.
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24. Table of Contents
Revenues
2009 2008 % Change
Quarter ended March 31, $ 37,362 $ 92,797 (59.7%)
Revenues declined 59.7 percent to $37.4 million in the first quarter of 2009 from $92.8 million in the first quarter of 2008.
The decline in revenues occurred in both our microelectronics and life sciences product lines, but was more pronounced in the
microelectronics product lines, and was primarily the result of the global economic downturn, and which was magnified by
excess inventory in the SDS distribution channel. Revenues in our microelectronics product lines declined 62.9 percent to
$31.7 million in the first quarter of 2009 from $85.5 million in the first quarter of 2008. The primary drivers of the decline in
microelectronics revenues were significant reductions in fab utilization rates (reductions in wafer starts), as demand for
consumer electronics devices fell significantly since the first quarter of last year, and by excess inventory in the SDS and flat-
panel display channels, driven by our customers’ aggressive management of their inventories. Consumer electronics spending,
the primary driver of wafer start growth and fab utilization rates, has declined dramatically since the same quarter of the previous
year, and it is difficult to predict when this demand trend will improve. Reductions in average selling prices accounted for
approximately 1 percent of the decline in microelectronics revenues. Revenues in our life sciences product lines decreased
22.2 percent in the first quarter of 2009 to $5.7 million compared to $7.3 million in the first quarter of 2008. The decline in life
sciences revenues is primarily attributable to global macroeconomic conditions and reductions in capital spending and aggressive
management of inventories by biopharmaceutical companies as a result of economic uncertainties.
Gross Profit
2009 2008
% of % of
Amount Revenues Amount Revenues
Quarter ended March 31, $ 6,931 18.6% $ 46,366 50.0%
Gross profit decreased 85.1 percent to $6.9 million in the first quarter of 2009 from $46.4 million in the first quarter of
2008. Our gross margin percentage decreased during this time period from 50.0 percent in the first quarter of 2008 to
18.6 percent in the first quarter of 2009. Gross profit in our microelectronics product lines decreased 88.3 percent to $5.1 million
in the first quarter of 2009 from $43.3 million in the first quarter of 2008. Gross profit margins in our microelectronics product
lines were approximately 16 percent in the first quarter of 2009 compared to approximately 51 percent in the first quarter of
2008. Gross profit in the first quarter of 2009 includes a $2.9 million asset impairment charge, due primarily to the planned
idling of manufacturing capacity of gas products, which manufacturing we currently expect to transition to a manufacturing and
distribution partner to eliminate a redundant cost structure. We have also recognized a $1.1 million charge to increase our
reserves for excess and obsolete inventories to cover expected chemical shelf-life issues in our microelectronics product lines.
Sales volume reductions as a result of the global recession were the primary driver of the remainder of the decline in gross profit.
Gross profit in our life sciences product lines decreased 40 percent to $1.9 million in the first quarter of 2009 compared to
$3.1 million in the first quarter of 2008. Gross profit margins in our life sciences product lines declined to approximately
33 percent in the first quarter of 2009 from approximately 42 percent in the first quarter of 2008, driven primarily by lower
revenue volumes due to the global recession.
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25. Table of Contents
Research and Development Expenses
2009 2008
% of % of
Amount Revenues Amount Revenues
Quarter ended March 31, $ 11,651 31.2% $ 8,492 9.2%
Research and development (“R&D”) expense increased 37.2 percent to $11.7 million in the first quarter of 2009 from
$8.5 million in the first quarter of 2008. The increase in R&D spending was primarily caused by planned increases in spending
associated with HPD activities related to cleans chemistries (including $1.7 million of higher licensing and outsourced
development costs) and a $1.5 million asset impairment charge related primarily to idled equipment. As a percentage of
revenues, R&D expense was 31.2 percent in the first quarter of 2009 compared to 9.2 percent in the first quarter of 2008. The
spending in 2009 was higher as a percent of revenues than we had planned, primarily because revenues were lower than expected
for the reasons noted above. As a result of the global economic recession and related impact on our business, we amended an
alliance agreement, which will reduce expenses for the remainder of 2009 by $3.0 million in order to better align the timing of
HPD platform support activities to the expected timing of our customer integration activities. The amendment reduces the
amount we will pay for support in 2009 and confirms commitments to pay for incremental activities in 2010. We plan to
continue to actively invest in our HPD capabilities in the foreseeable future, because we believe this investment will drive
significant new opportunities in cleans chemistries and other new products and will be a competitive advantage for ATMI.
Selling, General and Administrative Expenses
2009 2008
% of % of
Amount Revenues Amount Revenues
Quarter ended March 31, $ 22,240 59.5% $ 22,705 24.5%
SG&A decreased 2.0 percent to $22.2 million in the first quarter of 2009 from $22.7 million in the first quarter of 2008.
SG&A, as a percentage of revenues, increased to 59.5 percent in the first quarter of 2009 compared to 24.5 percent in the first
quarter of 2008. The first quarter of 2009 results include a $1.8 million asset impairment charge related primarily to redundant
enterprise management software and a $1.5 million charge to increase our reserves for bad debt to cover exposures related to
customer bankruptcy filings and uncertainties of collections due to the current general macroeconomic conditions. As a result of
the current economic environment, we have implemented cost reduction activities which contributed to the decline in SG&A
spending, excluding the charges noted above. These cost reductions include reductions in salaries and incentives ($1.9 million),
travel ($1.5 million), and recruiting and relocation ($0.3 million).
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26. Table of Contents
Operating Income (Loss)
2009 2008
% of % of
Amount Revenues Amount Revenues
Quarter ended March 31, $ (26,960) (72.2%) $ 15,169 16.3%
We incurred an operating loss of $27.0 million in the first quarter of 2009 compared to operating income of $15.2 million in
the first quarter of 2008. This change is from a variety of factors, such as the significant decline in revenues from the global
economic downturn and excess inventories in the distribution channel, the $6.2 million impairment charge for long-lived assets,
the $1.5 million charge for bad debt expense, the $1.1 million charge for excess and obsolete inventories, and other items as
noted above.
Interest Income
Interest income decreased to $0.5 million in the first quarter of 2009 from $1.0 million in the first quarter of 2008. The
primary reason for the decrease is lower average invested balances and lower rates of return given the significant reduction in
market interest rates since the prior year.
Impairment of Investments
The first quarter of 2009 results include a $2.5 million impairment charge, primarily related to a write-down associated with
an auction-rate security.
Provision (Benefit) for Income Taxes
Effective Rate
2009 2008
Quarter ended March 31, (36.7%) 32.7%
The first quarter of 2009 effective tax benefit rate of 36.7 percent differs from the Federal statutory rate of 35.0 percent
primarily due to the mix of income attributable to the various countries in which we conduct business. As of March 31, 2009, the
Company had a net deferred tax asset on the balance sheet of $6.2 million, primarily because of temporary differences (i.e.,
accrued liabilities, inventory adjustments, equity-based compensation, and depreciation and amortization), state and foreign tax
credit carry forwards, and federal, state and foreign net operating loss carry forwards. The Company has been audited in the
United States by the Internal Revenue Service through tax year 2005 and is currently undergoing an audit of its 2006 and 2007
tax years.
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27. Table of Contents
Liquidity and Capital Resources
We assess liquidity in terms of our ability to generate cash to fund our operating and investing activities. Of particular
importance to management are cash flows generated by operating activities, cash used for capital expenditures, and cash
obtained through lines of credit.
Until required for use in the business, we invest our cash reserves in bank deposits, certificates of deposit, money market
securities, government and government-sponsored bond obligations, and other interest bearing marketable debt instruments in
accordance with our investment policy. The value of our investments may be adversely affected by increases in interest rates,
instability in the global financial markets that reduces the liquidity of securities included in our portfolio, and by other factors
which may result in other-than-temporary declines in value of the investments, which could impact our financial position and our
overall liquidity. Each of these events may cause us to record charges to reduce the carrying value of our investment portfolio or
sell investments for less than our acquisition cost. We attempt to mitigate these risks with the assistance of our investment
advisors by investing in high-quality securities and continuously monitoring the overall risk profile of our portfolio. We also
maintain a well-diversified portfolio that limits our credit exposure through concentration limits set within our investment policy.
We have financed our operating needs, capital expenditures, and share buybacks through cash flows from our operations,
lines of credit, and existing cash. We expect to finance our current and planned operating requirements principally through cash
from operations, as well as existing cash resources. We believe that these funds will be sufficient to meet our operating
requirements for the foreseeable future. However, we may, from time to time, seek additional funding through a combination of
additional equity and debt financings or from other sources. Due to the current state of the credit markets, we are not able to
predict with any certainty whether we could obtain debt or equity financing to provide additional sources of liquidity, should the
need arise, at favorable rates or at all.
We continue to invest in R&D to provide future sources of revenue through the development of new products, as well as
through additional uses for existing products. We consider R&D and the development of new products and technologies an
integral part of our growth strategy and a core competency of the Company. Likewise, we continue to make capital expenditures
in order to expand and modernize manufacturing facilities around the globe and to drive efficiencies throughout the organization.
Additionally, management considers, on a continuing basis, potential acquisitions of strategic technologies and businesses
complementary to the Company’s current business.
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28. Table of Contents
A summary of our cash flows follows (in thousands):
Three Months ended
March 31,
2009 2008
Cash provided by (used for):
Operating activities $ 7,467 $ 21,493
Investing activities 1,554 (14,655)
Financing activities (1,457) (58,616)
Effects of exchange rate changes on cash and cash equivalents 347 (1,822)
Net cash provided by operating activities decreased by $14.0 million in the first quarter of 2009 compared to the first
quarter of 2008, primarily from:
• Decrease in net income of $28.8 million (to a net loss of $18.4 million)
• Cash used related to changes in deferred income taxes of $3.6 million
• Increase in cash provided by changes in accounts receivable of $11.4 million due to the reduction in revenues and
also to timing of collections
• Cash used related to changes in inventories in the first quarter of 2008 of $4.1 million due to the building of
safety stocks
• Decrease in cash used by changes in accrued expenses of $6.1 million
• Cash used related to changes in accounts payable of $0.7 million compared to cash provided by changes in
accounts payable of $3.9 million, due primarily to timing of payments
• Cash used related to changes in income taxes payable of $4.3 million compared to cash provided by changes in
income taxes payable of $4.2 million
Net cash provided by investing activities was $1.6 million in the first quarter of 2009, compared to net cash used by
investing activities of $14.7 million in the first quarter of 2008, resulting primarily from:
• Decrease in capital spending of $16.2 million primarily because of the purchase of research tools used in our high
productivity development activities in 2008
• Decrease in cash paid for acquisitions of $27.5 million, representing the purchase of LevTech, Inc. in 2008
• Increase in cash used for purchases of marketable securities of $12.6 million
• Decrease in cash proceeds from sales and maturities of marketable securities of $14.9 million
Net cash used for financing activities decreased by $57.2 million in the first quarter of 2009 compared to the first quarter of
2008, primarily from:
• Decrease in treasury stock purchases of $58.7 million
• Net repayments on the credit line of $0.9 million
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29. Table of Contents
Critical Accounting Estimates
There have been no material changes from the methodologies applied by management for critical accounting estimates
previously disclosed in ATMI’s most recent Annual Report on Form 10-K.
Off-Balance Sheet Arrangements and Contractual Obligations
We have entered into a pledge agreement with Anji Microelectronics Co., Ltd. (“Anji”) for the issuance of a standby letter
of credit up to $4.6 million in order to assist Anji in securing bank financing, which is to expire no later than June 30, 2010. The
standby letter of credit has been secured by Anji’s assets and additional equity interests in Anji’s operating subsidiaries. As of
March 31, 2009, Anji has drawn down $3.3 million against the line of credit secured by the letter of credit. ATMI would be
obligated to perform against this letter of credit in the event of Anji’s nonperformance.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Interest Rate Risk . As of March 31, 2009, the Company’s cash and cash equivalents and marketable securities included
bank deposits, certificates of deposit, money market securities, government and government-sponsored bond obligations. As of
March 31, 2009, an increase of 100 basis points in interest rates on securities with maturities greater than one year would reduce
the fair value of the Company’s marketable securities portfolio by approximately $0.8 million. Conversely, a reduction of 100
basis points in interest rates on securities with maturities greater than one year would increase the fair value of the Company’s
marketable securities portfolio by approximately $1.1 million.
Foreign Currency Exchange Risk . Most of the Company’s sales are denominated in U.S. dollars and as a result, the
Company does not have any significant exposure to foreign currency exchange risk with respect to sales made. Approximately
38 percent of the Company’s revenues for the quarter ended March 31, 2009 were denominated in Japanese Yen (“JPY”),
Korean Won, and Euros, but a majority of the product is sourced in U.S. dollars. Management periodically reviews the
Company’s exposure to currency fluctuations. This exposure may change over time as business practices evolve and could have
a material effect on the Company’s financial results in the future. We use forward foreign exchange contracts to hedge specific
exposures relating to intercompany payments and anticipated, but not yet committed, intercompany sales (primarily parent
company export sales to subsidiaries at pre-established U.S. dollar prices). The terms of the forward foreign exchange contracts
are generally matched to the underlying transaction being hedged, and are typically under one year.
Because such contracts are directly associated with identified transactions, they are an effective hedge against fluctuations
in the value of the foreign currency underlying the transaction. We recognize in earnings (other loss, net) changes in the fair
value of all derivatives designated as fair value hedging instruments that are highly effective and recognize in accumulated other
comprehensive income (loss) any changes in the fair value of all derivatives designated as cash flow hedging instruments that are
highly effective and meet the other related accounting requirements. We generally do not hedge overseas sales denominated in
foreign currencies or translation exposures. Further, we do not enter into derivative instruments for trading or speculative
purposes and all of our derivatives were highly effective throughout the periods reported.
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30. Table of Contents
At March 31, 2009, we held forward foreign currency exchange contracts designated as fair value hedges with notional
amounts totaling $6.0 million, which are being used to hedge recorded foreign denominated liabilities and which will be settled
in either JPY or New Taiwan Dollars (NTD). Holding other variables constant, if there were a 10 percent decline in foreign
exchange rates for the JPY and NTD, the fair market value of the foreign exchange contracts outstanding at March 31, 2009
would decrease by approximately $0.6 million, which would be expected to be fully offset by foreign exchange gains on the
amounts being hedged. The effect of an immediate 10 percent change in other foreign exchange rates would not be expected to
have a material effect on the Company’s future operating results or cash flows.
Changes in Market Risk . Global credit and financial markets have been experiencing extreme disruptions in recent months,
including severely diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth,
increases in unemployment rates, and uncertainty about economic stability. There can be no assurance that there will not be
further deterioration in credit and financial markets and confidence in economic conditions. These economic uncertainties affect
businesses such as ours in a number of ways, making it difficult to accurately forecast and plan our future business activities. The
current tightening of credit in financial markets may continue to lead consumers and businesses to postpone spending, which
may cause our customers to continue to aggressively manage their inventories and delay their future orders with us. In addition,
financial difficulties experienced by our suppliers or distributors could result in product delays, increased accounts receivable
defaults and inventory challenges. We are unable to predict the likely duration and severity of the current disruptions in the credit
and financial markets and adverse global economic conditions, and if the current uncertain economic conditions continue or
further deteriorate, our business and results of operations could be materially and adversely affected.
Item 4. Controls and Procedures
Our management, with the participation of our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), has
evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e)
under the Exchange Act) as of the end of the period covered by this Form 10-Q. There are inherent limitations to the
effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention
or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide
reasonable assurance of achieving their control objectives. Based upon this evaluation, our CEO and CFO concluded that, as of
the end of the period covered by this Form 10-Q, our disclosure controls and procedures were effective in that they provided
reasonable assurance that the information we are required to disclose in the reports we file or submit under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified in the applicable rules and forms, and that it is
accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions
regarding required disclosure.
We routinely review our internal control over financial reporting and from time to time make changes intended to enhance
the effectiveness of our internal control over financial reporting. There have been no changes to our internal control over
financial reporting as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act during the first quarter of
fiscal 2009 that we believe materially affected, or will be reasonably likely to materially affect, our internal control over financial
reporting.
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31. Table of Contents
PART II — OTHER INFORMATION
Item 1. Legal Proceedings
ATMI is, from time to time, subject to legal actions, governmental audits, and proceedings relating to various matters
arising out of its business, which may include contract disputes, product claims, employment matters, export and trade matters,
and environmental claims. While the outcome of such matters cannot be predicted with certainty, in the opinion of management,
after reviewing such matters and consulting with ATMI’s counsel and considering any applicable insurance or indemnifications,
any liability which may ultimately be incurred is not expected to materially affect ATMI’s consolidated financial position, cash
flows or results of operations.
Item 1A. Risk Factors
There have been no material changes to the Risk Factors, which are described in more detail in our Annual Report on Form
10-K for the fiscal year ended December 31, 2008, and our other subsequent filings with the Securities and Exchange
Commission and in materials incorporated by reference in these filings. See “Cautionary Statements Under the Private Securities
Litigation Reform Act of 1995” within this document.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Equity Securities — There were no share repurchases during the three months ended March 31, 2009 of any of
our securities registered under Section 12 of the Exchange Act, by or on behalf of us, or any affiliated purchaser. We withheld
31,806 shares (at an average price of $16.05 per share) through net share settlements during the three months ended March 31,
2009, upon the vesting of restricted stock awards to cover minimum tax withholding obligations, for a total of $511,000.
Item 5. Other Information
None.
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32. Table of Contents
Item 6. Exhibits
31.1 Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32 Certifications of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
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33. Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
ATMI, Inc.
April 22, 2009
By: /s/ Douglas A. Neugold
Douglas A. Neugold
President and Chief Executive Officer
By: /s/ Timothy C. Carlson
Timothy C. Carlson
Executive Vice President,
Chief Financial Officer and Treasurer
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34. Table of Contents
EXHIBIT INDEX
Exhibit No. Description
31.1 Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32 Certifications of the Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.
31