Business
ACM Research Announces Preliminary 2020 Revenue and Initial Outlook for 2021 Revenue
—Preliminary 2020 Revenue of $153 to $155 Million— —Projected 2021 Revenue of $205 to $230 Million— —ACM to Present at Credit Suisse and Needham Growth
About this update from Acm Research, Inc.
[{"type":"text","content":"—Preliminary 2020 Revenue of $153 to $155 Million— —Projected 2021 Revenue of $205 to $230 Million— —ACM to Present at Credit Suisse and Needham Growth Conferences— FREMONT, Calif., Jan. 05, 2021 (GLOBE NEWSWIRE) -- ACM Research, Inc. (ACM) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today announced that its preliminary unaudited revenue for the full year 2020 is expected to be in the range of $153 million to $155 million. This would represent annual growth of 42% to 44%, and would be at the upper end of the outlook range provided in ACM’s third quarter 2020 earnings release issued on November 5, 2020. ACM also announced that it expects revenue for the full year 2021 to be in the range of $205 million to $230 million, which would represent annual growth of between 32% and 50%. This expectation assumes, among other factors, improvement with respect to the global COVID-19 pandemic and stability in US-China trade policy. The range of ACM’s 2021 outlook reflects, among other things, various spending scenarios for the production ramps of key customers, variance in the trajectory of the DRAM recovery, and the timing of acceptances for first tools under evaluation in the field. “We expect another year of strong growth in 2021 as we execute on our mission to become a major equipment supplier to the global semiconductor industry,” said Dr. David Wang, ACM’s President and Chief Executive Officer. “We anticipate solid growth from our top customers, incremental contribution from our two new analog customers, and significant growth from our newer Ultra C Tahoe, semi-critical cleaning tools, ECP ap, ECP map, ECP tsv and multiple types of furnace products. We continue to invest in new products, global sales and marketing, and production capacity to support our long-term growth objectives.” ACM plans to release its fourth quarter and full year 2020 financial results in late February 2021. The 2020 revenue results included in this press release are preliminary. Actual full year 2020 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 holding virtual meetings with investors on January 7, 2021 (Ch...