DANBURY, Conn. (AP) -- Specialty semiconductor materials maker ATMI Inc. said Wednesday its net income rose 3 percent in the second quarter as an acquisition shored up its sales.
ATMI paid $95 million to acquire full rights to the Safe Delivery Source gas storage and delivery system in October. Matheson Tri-Gas Inc. previously had the right to license, manufacture and distribute the system. ATMI said the deal helped its microelectronics business in the second quarter, countering a decrease in sales of display and copper products. It said life-sciences revenue improved on greater sales of disposable products.
The company said its net income grew to $11.4 million, or 35 cents per share, from $11.1 million, or 34 cents per share. Revenue edged up 2 percent, to $105.9 million from $104 million. Microelectronics revenue was unchanged at $94.6 million while life-sciences revenue rose to $11.2 million from $9.4 million.
Analysts expected net income of 34 cents per share and $107.2 million in revenue, according to estimates compiled by FactSet.
Shares of ATMI rose 35 cents to $19.09 on Wednesday.