Ceramic Industry News

ATC Announces Second Quarter Results

February 14, 2002
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American Technical Ceramics Corp. (ATC) recently announced its results for the second fiscal quarter and the six months ended December 31, 2001. Net sales for the quarter ended December 31, 2001, decreased 46% to $11,582,000 from $21,326,000 in the comparable quarter in fiscal year 2001. Net loss amounted to $1,038,000, or approximately ($.13) per common share, for the quarter ended December 31, 2001, compared with net income of $2,445,000, or approximately $.31 per common share, for the comparable quarter ended December 31, 2000. Net sales for the six months ended December 31, 2001, decreased 40% to $25,487,000 from $42,223,000 in the comparable period in fiscal year 2001. Net loss amounted to $740,000, or approximately $.09 per common share, for the six months ended December 31, 2001, compared with net income of $5,040,000, or approximately $.63 per common share, for the comparable period ended December 31, 2000. The company's management stated that the decrease in net sales for both the three and six month periods was a direct result of the continuing economic downturn that is affecting the entire electronic component industry. The majority of the company's major product lines were below the prior year's sales levels.

For additional information, or to view an archived webcast of a conference call with management, visit http://www.atceramics.com.

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