News Release
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Versum Materials Reports Strong Fiscal Fourth Quarter and Record Fiscal Year 2018 Financial Results
Initiates Fiscal Year 2019 Financial Outlook

Fiscal Fourth Quarter 2018 Financial Highlights Versus Fiscal Fourth Quarter 2017

Sales of $351 million, up 19%
Net Income of $54 million, or diluted EPS of $0.49
Adjusted EBITDA of $116 million, up 23%
Adjusted diluted earnings per share of $0.60, up 28%

Fiscal Year 2018 Financial Highlights Versus Fiscal Year 2017

Sales of $1,372 million, up 22%
Net Income of $198 million or diluted EPS of $1.80
Adjusted EBITDA of $445 million, up 20%
Advanced Materials innovation portfolio again delivered double-digit revenue growth
Delivery Systems & Services achieved record revenue and Adjusted EBITDA growth
Dividend raised twice, 60% increase since inception

Fiscal Year 2019 Guidance

Estimated Sales of $1,425 - $1,475 million, up 4% to 8% versus fiscal year 2018
Estimated Adjusted EBITDA of $475 - $495 million, up 7% to 11% versus fiscal year 2018

The results and guidance in this press release include Non-GAAP financial measures. Refer to the section entitled “Non-GAAP Financial Measures.”

Tempe, Arizona, November 6, 2018 (Businesswire) - Versum Materials, Inc. (NYSE: VSM), a leading specialty materials and equipment supplier to the semiconductor industry, today reported results for the fiscal fourth quarter and year ended September 30, 2018.

Fiscal Fourth Quarter 2018 - Sales were $350.8 million, up 19% versus prior year quarter, primarily driven by continued robust volume growth in our Delivery Systems and Services ("DS&S") segment and strong volume growth in our Materials segment. Net Income was $53.9 million, or $0.49 per diluted share, up 20% versus prior year quarter, including one-time charges of $11.5 million, net of tax. Adjusted Net Income was $65.4 million, up 26% versus prior year quarter, or $0.60 per diluted share, up 28%. Adjusted EBITDA was $116.2 million up 23% versus prior year quarter, primarily due to the growth in volume.

Fiscal Year 2018 - Sales were $1,372.3 million, up 22% versus prior year. Our strong position with the top memory manufacturers drove solid volumes across all businesses. Net income was $197.5 million or $1.80 per diluted share and included one-time charges of $43.3 million related to the Tax Act, $15.8 million, net of tax, primarily related to separation, restructuring and cost reduction actions and $1.5 million, net of tax, for the write-off of financing costs. Adjusted Net Income was $258.1 million, up 23% versus prior year, or $2.35 per diluted share, up 22%. Adjusted EBITDA was $445.4 million, up 20% versus prior year, primarily due to equipment and installation activity in DS&S and strong volumes and margins in Advanced Materials.
The cash balance at year-end was $399.8 million with cash flows from operations of $278.3 million and cash used for capital spending of $115.4 million, including $28.7 million of capital spending related to restructuring activities.

Guillermo Novo, Versum Materials' President and Chief Executive Officer said “I am extremely proud of what our team accomplished during fiscal year 2018.   Both of our business segments achieved strong results and we reported record sales and

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The following information was filed by Versum Materials, Inc. (VSM) on Tuesday, November 6, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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