Entegris swings to loss in 3Q, will cut jobs

CHASKA, Minn. - Entegris Inc. said Tuesday it swung to a loss in the third quarter on a hefty charge, and plans to close the larger of its factories in Chaska, Minn. — a move the company said will affect 200 jobs.

The semiconductor systems maker posted a loss of $411.4 million, or $3.68 per share, compared with year-ago profit of $8.4 million or 7 cents per share. Excluding a $395.3 million writedown of goodwill triggered by a decline in its market capitalization, the company posted profit of $6.2 million, or 6 cents per share, in the latest quarter.

Sales fell to $145.8 million from the previous year's $151.8 million.

Analysts polled by Thomson Reuters were expecting earnings of 8 cents per share, on average, and sales of $144.5 million. Analysts typically exclude one-time items from their estimates.

"The global economic turmoil has exacerbated the cyclical downturn in the semiconductor industry," Gideon Argov, the company's chief executive, said in a statement.

The closing of its Minnesota facility will come in 2009 and save between $6 million and $8 million beginning in 2010, the company said.

Entegris shares rose 11 cents, or 4 percent, to $2.85.

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