EX-99.1
2
a5324290ex99_1.txt
EXHIBIT 99.1

                                                                    Exhibit 99.1

             American Technical Ceramics Corp. Announces
                   Second Quarter Financial Results

    HUNTINGTON STATION, N.Y.--(BUSINESS WIRE)--Feb. 1, 2007--AMERICAN
TECHNICAL CERAMICS CORP. (AMEX Symbol: AMK), a leading manufacturer of
high-performance electronic components, including capacitors and thin
film circuits for a broad range of commercial and military
applications, today announced financial results for the second fiscal
quarter ended December 31, 2006.

    Net sales for the quarter ended December 31, 2006 increased 5% to
$20,634,000 from $19,678,000 in the comparable quarter in fiscal year
2006. Net income amounted to $1,192,000, or diluted earnings per
common share of $0.13, compared with net income of $1,929,000, or
diluted earnings per common share of $0.22, for the comparable quarter
ended December 31, 2005.

    Net sales for the six months ended December 31, 2006 increased 18%
to $43,691,000 from $37,180,000 in the comparable period in fiscal
year 2006. Net income amounted to $4,332,000, or diluted earnings per
common share of $0.48, compared with net income of $1,238,000, or
diluted earnings per common share of $0.14, for the comparable period
ended December 31, 2005.

    Management stated that the increase in net sales for the three and
six month periods as compared to the comparable periods of the prior
fiscal year was primarily due to strong demand across most of the
Company's major product lines particularly to customers in the
semiconductor equipment, military and fiber optic markets.

    Net income decreased for the three months ended December 31, 2006
compared to the comparable period in the prior fiscal year primarily
due to lower gross margins which, in turn, was primarily due to
increased manufacturing expenses and a less favorable sales mix.

    Net income increased for the six months ended December 31, 2006
compared to the comparable period in the prior fiscal year primarily
due to the increased revenues and in part to increased material
reclamation. In addition, management noted that the prior year's
results were negatively impacted by the attempted conversion of part
of the Company's sales and manufacturing functions to its Enterprise
Resource Planning System.

    Bookings for the three months ended December 31, 2006 were
approximately $22.6 million, an increase of 3% from the comparable
period in the prior fiscal year and 17% over the levels achieved in
the immediately preceding quarter of the current fiscal year. These
increases are primarily due to the strong demand from customers in the
semiconductor equipment, fiber optic, military, and wireless
infrastructure markets.

    Victor Insetta, President and Chief Executive Officer of the
Company, stated, "The seasonality that we typically experience in the
second quarter of our fiscal year extended longer than usual. That
seasonality, coupled with expenses associated with the previously
announced reduction in headcount and the manufacturing initiative we
have launched in Costa Rica contributed to the decline in earnings
quarter to quarter. The business environment has improved
substantially since the beginning of the calendar year as evidenced by
robust bookings. We have more than ample capacity to meet the
expanding demand we are seeing and expect to continue to see. We
remain optimistic about our prospects for the full fiscal year."

    American Technical Ceramics Corp. designs, develops, manufactures
and markets electronic components, including ceramic multilayer
capacitors and custom thin film circuits. The Company's products are
utilized in a broad range of commercial and military applications,
including wireless infrastructure, fiber optics, medical electronics,
semiconductor manufacturing equipment and satellite equipment.

    The Company invites you to participate in its upcoming quarterly
investors' conference call with management. The details are as
follows:



                       Friday, February 2, 2007
                       11:00 A.M. Eastern Time
                      TOLL FREE CALL IN NUMBERS:
        (877) 391-6852 (USA) and (617) 213-5515 (International)
                         Passcode 41863087


    A replay of the call will be available for approximately two weeks
beginning shortly after the call ends. The numbers to call to hear the
replay are 888-286-8010 (USA) and 617-801-6888 (International). The
access code is 35867586.

    A live webcast of the call will begin at 11:00 A.M., Eastern Time,
on Friday, February 2, 2007. To access the webcast, go to the
Company's website, www.atceramics.com, and click on the webcast icon
in the Investor Relations section. This webcast will be available for
two weeks.

    "Safe Harbor" statement under the Private Securities Litigation
Reform Act of 1995:

    This release may contain forward-looking statements that are
subject to risks and uncertainties, including, but not limited to,
economic and political conditions, the impact of competitive products,
product demand and market acceptance risks, changes in product mix,
costs and availability of raw materials, fluctuations in operating
results, delays in development of highly-complex products, risks
associated with international sales and sales to the U.S. military,
risk of customer contract or sales order cancellation and other risks
detailed from time to time in American Technical Ceramics Corp.'s
filings with the Securities and Exchange Commission, including,
without limitation, those contained under the caption "Item 1.
BUSINESS - CAUTIONARY STATEMENTS REGARDING FORWARD - LOOKING
STATEMENTS" in the Company's Annual Report on Form 10-K. These risks
could cause the Company's actual results for future periods to differ
materially from those expressed in any forward-looking statements made
by, or on behalf of, the Company. Any forward-looking statements
represent the Company's expectations or forecasts only as of the date
they were made and should not be relied upon as representing its
expectations or forecasts as of any subsequent date. The Company
undertakes no obligation to correct or update any forward-looking
statement, whether as a result of new information, future events or
otherwise, even if its expectations or forecasts change.



          American Technical Ceramics Corp. and Subsidiaries
----------------------------------------------------------------------
                (in thousands, except per share data)


              Condensed Consolidated Balance Sheet Data
----------------------------------------------------------------------
                                 December 31, 2006     June 30, 2006
                                 ------------------  -----------------
                                    (unaudited)          (audited)
Cash and Investments                 $       8,911        $     8,324
Accounts Receivable                          9,567             12,719
Inventories                                 38,329             33,255
Current Assets                              62,625             58,805
Total Assets                                93,936             90,543
Current Liabilities                         10,929             12,156
Total Liabilities                           20,103             22,476
Total Stockholders' Equity                  73,833             68,067

         Condensed Consolidated Statement of Operations Data
----------------------------------------------------------------------
                                          Three Months Ended
                                              (unaudited)
                                 -------------------------------------
                                 December 31, 2006   December 31, 2005
                                 ------------------  -----------------
Net Sales                            $      20,634        $    19,678
Gross Profit                                 7,085              7,965
Operating Income                             1,871              2,993
Net Income                                   1,192              1,929
Earnings Per Common Share:
    Basic                            $        0.14        $      0.23
    Diluted                          $        0.13        $      0.22
Weighted Average Common Shares
 Outstanding:
    Basic                                    8,762              8,538
    Diluted                                  9,038              8,816

         Condensed Consolidated Statement of Operations Data
----------------------------------------------------------------------
                                           Six Months Ended
                                              (unaudited)
                                 -------------------------------------
                                 December 31, 2006   December 31, 2005
                                 ------------------  -----------------
Net Sales                            $      43,691        $    37,180
Gross Profit                                16,980             11,840
Operating Income                             6,732              2,106
Net Income                                   4,332              1,238
Earnings Per Common Share:
    Basic                            $        0.50        $      0.15
    Diluted                          $        0.48        $      0.14
Weighted Average Common Shares
 Outstanding:
    Basic                                    8,730              8,527
    Diluted                                  9,006              8,833

    CONTACT: American Technical Ceramics Corp.
             Kathleen M. Kelly, 631-622-4710
             Vice President
             invest@atceramics.com
             or
             The Global Consulting Group
             Allan Jordan, 646-284-9400
             Senior Vice President
             ajordan@hfgcg.com



The following information was filed by American Technical Ceramics Corp on Thursday, February 1, 2007 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate American Technical Ceramics Corp's financial trajectory

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