Adjusted earnings, which exclude goodwill amortization and other items, were $29 million, or 12 cents per share, compared with a loss of $100,000, or nil cents per share, the year before.
Revenue surged 71 percent to $380.7 million, topping ATI's own forecast, on strong demand from notebook computer and mobile phone makers.
Twenty-four analysts surveyed by Reuters Research, a unit of Reuters Group Plc, had expected, on average, adjusted earnings per share of 10 cents. Nineteen analysts had forecast, on average, revenue of $362.9 million.
But ATI shares fell, a move analysts attributed to concerns about the company's guidance. The stock reached its highest level since March 2002 on Thursday, and had tripled in value since the start of the year.
ATI shares closed down 99 cents, or more than 6 percent, at $15.29 on Nasdaq with more than 10.6 million shares traded. In Toronto, the stock fell C$1.43 to C$20.56 on volume of 3.7 million.
"There's a lot of concern around where gross margins will land in the next couple of quarters. The company alluded to seeing some pricing pressure in the marketplace and new products having margins that are lower than the corporate average," said Deepak Chopra, an analyst with National Bank Financial in Toronto.
"That's where you're seeing the stock take its hit today...the revenue guidance was good."
