Business
ACM Research Reports Third Quarter 2021 Results
FREMONT, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM” or the “Company”) (NASDAQ:ACMR), a leading supplier of wafer cleaning
About this update from Acm Research, Inc.
[{"type":"text","content":"FREMONT, Calif., Nov. 04, 2021 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM” or the “Company”) (NASDAQ:ACMR), a leading supplier of wafer cleaning technologies for advanced semiconductor devices, today reported financial results for its third fiscal quarter ended September 30, 2021. ACM’s President and Chief Executive Officer Dr. David Wang commented, “We delivered impressive third quarter results, with record revenue and shipments. Our results demonstrate the effectiveness of ACM’s multi-product strategy, with solid growth from our flagship cleaning tools, and increased contribution from both electrochemical planting (ECP) and advanced packaging products. We are making great progress with major semiconductor manufacturers, with evaluation tool orders from three new potential customers. Despite industry-wide capacity constraints, our business momentum continues, and we have narrowed the range of our 2021 outlook accordingly.” Dr. Wang continued, “We are excited that our subsidiary ACM Research (Shanghai), Inc. expects to be soon listed on the STAR Market. We remain confident that a successful STAR Market listing, combined with the listing of ACM’s Class A common stock on the Nasdaq Global Market, will provide a strong foundation to accelerate our mission to become a global player in the semiconductor equipment industry.” Three Months Ended September 30, GAAP Non-GAAP(1) 2021 2020 2021 2020 (dollars in thousands, except per share data)Revenue$67,013 $47,665 $67,013 $47,665 Gross margin 44.3% 42.7% 44.5% 42.8%Income from operations$11,795 $7,506 $13,073 $10,285 Net income attributable to ACM Research, Inc.$10,155 $8,627 $12,352 $8,969 Basic EPS$0.52 $0.47 $0.64 $0.49 Diluted EPS$0.46 $0.40 $0.56 $0.42 Nine Months Ended September 30, GAAP Non-GAAP(1) 2021 2020 2021 2020 (dollars in thousands, except per share data)Revenue$164,609 $111,062 $164,609 $111,062 Gross margin 42.2% 45.0% 42.3% 45.1%Income from operations$19,576 $16,060 $23,399 $20,383 Net income attributable to ACM Research, Inc.$22,192 $10,251 $24,198 $17,568 Basic EPS$1.16 $0.57 $1.27 $0.97 Diluted EPS$1.02 $0.48 $1.11 $0.83 (1) Reconciliations to U.S. generally accepted accounting principles (GAAP) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial Measures.” Non-GAAP financial measures exclude st...