Business
Amtech Reports Third Quarter Fiscal 2019 Results
TEMPE, Ariz., Aug. 8, 2019 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing, related
About this update from Amtech Systems, Inc.
[{"type":"text","content":"TEMPE, Ariz., Aug. 8, 2019 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing, related consumables, and wafer handling systems used in fabricating semiconductor devices, silicon carbide (SiC) and silicon power chips, electronic assemblies, light-emitting diodes (LEDs), and solar cells, today reported results for its third quarter ended June 30, 2019.\nThird Quarter Fiscal 2019 Financial and Operational Highlights from Continuing Operations:\nNet revenue of $21.0 million Income from continuing operations, net of tax, of $0.9 million Income per diluted share from continuing operations of $0.06 Customer orders of $16.3 million June 30, 2019 backlog of $17.2 million Book to bill ratio of 0.8:1 Unrestricted cash of $49.1 millionMr. J.S. Whang, Executive Chairman and Chief Executive Officer of Amtech, commented, \"Our results reflect the slower demand environment in the semiconductor cycle, with the trade dispute and related tariffs being a significant contributing factor. We are monitoring our cost structure to ensure it is aligned with the current operating environment, while making select investments in preparation for the industry's next growth cycle and to support our semi growth strategy. Today we also announced an order for our 300mm diffusion furnace from another top-tier power semiconductor customer. We believe having two leading players as our strong customers in the growing 300mm power semiconductor market is an important achievement which will significantly contribute to our future semi growth. As previously announced, we are investing in a larger facility for our PR Hoffman business to increase productivity, drive sales and enhance profitability. With great enthusiasm, we are shaping our overall business, putting the right capabilities in place, and we are confident we will be a significant participant in the highest growth areas in the semiconductor market over the long term.\"\nMr. Whang continued, \"In line with our plan to divest substantially all of our solar business, at the end of the quarter we announced the sale of our SoLayTec solar subsidiary. And, today, our advisor in the Netherlands continues to be actively engaged in discussions with private equity and strategic investors regarding the sale of Tempress.\"\nNet revenue for the third quarter ...