Business
ACM Research Announces Preliminary 2019 Revenue and Initial Outlook for 2020 Revenue
—Preliminary 2019 Revenue of $105 to $107 Million——Projected 2020 Revenue of $130 to $150 Million——ACM to Present at Needham Growth Conference This Week—
About this update from Acm Research, Inc.
[{"type":"text","content":"—Preliminary 2019 Revenue of $105 to $107 Million——Projected 2020 Revenue of $130 to $150 Million——ACM to Present at Needham Growth Conference This Week—\n FREMONT, Calif., Jan. 13, 2020 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer cleaning technologies for advanced semiconductor devices, today announced that preliminary unaudited revenue for the full year 2019 is expected to be in the range of $105 million to $107 million. This would represent 41% to 43% annual growth, and would equal or exceed the outlook provided in its third quarter 2019 earnings release issued on November 6, 2019. ACM also announced that it expects revenue for the full year 2020 to be in the range of $130 million to $150 million, which would represent annual growth of between 21% and 43%. “We expect another year of strong growth in 2020, as we execute on our mission to become a major supplier of equipment to the global semiconductor industry,” said Dr. David Wang, ACM’s CEO. “We anticipate solid growth from our top customers, with incremental contribution from our new Ultra C Tahoe, TEBO, ECP AP and ECP MAP products. The range in our full-year 2020 outlook reflects various spending scenarios of the trajectory for production ramps for our customers, the recovery speed of the DRAM market, and the timing of revenue acceptance for first tools under evaluation in the field.” ACM plans to release its fourth quarter and full year 2019 financial results in early March 2020. The 2019 revenue results included in this press release are preliminary. Actual full year 2019 revenue results are subject to the completion of ACM’s year-end financial closing procedures, and review and audit procedures by ACM’s independent registered public accounting firm. As previously announced, ACM will be meeting with investors on January 14, 2020 at the 22nd Annual Needham Growth Conference in New York City. Attendance at the conference is by invitation only for Needham & Company clients, but ACM will present a company overview at 3:30 PM EDT that will be publicly available via webcast accessible live, and posted shortly after the presentation, on the investor relations section of ACM’s website at http://ir.acmrcsh.com/. Forward-Looking Statements Information presented in this press release includes forward-looking for purposes of the safe ha...