Business
Amtech Reports Third Quarter Fiscal 2020 Results
TEMPE, Ariz.,--(BUSINESS WIRE)-- Amtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer polishing,
About this update from Amtech Systems, Inc.
[{"type":"text","content":" TEMPE, Ariz.,--(BUSINESS WIRE)--\nAmtech Systems, Inc. (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power chips, electronic assemblies and light-emitting diodes (LEDs), today reported results for its third quarter ended June 30, 2020.\n\n\nThird Quarter Fiscal 2020 Financial and Operational Highlights from Continuing Operations:\n\n\n\nNet revenue of $15.2 million\n\n\nBreakeven operating income of $31,000\n\n\nLoss from continuing operations, net of tax, of $0.1 million\n\n\nLoss per diluted share from continuing operations of $0.01\n\n\nCustomer orders of $10.8 million\n\n\nUnrestricted cash of $46.4 million\n\n\n\nMr. Michael Whang, Chief Executive Officer of Amtech, commented, “While the global pandemic continues to create operational challenges, thanks to the diligent efforts of our employees and supply chain partners, in the third quarter we saw minimal disruption in our ability to service customers. In the fourth quarter, we began to see a rise in customer engagement with our recently announced 300mm diffusion furnace order. We believe this is an early indicator of the strength in long-term demand drivers for power semiconductors, including silicon carbide, led by growing demand from electric vehicles and automotive sensors, renewable energy, mobile devices, and wireless communications applications,” concluded Mr. Whang.\n\n\nGAAP Financial Results\n\n\n\n\n(in millions, except per share amounts)\n\n\n\nQ3\n\n\n\nQ2\n\n\n\nQ3\n\n\n\n9 Months\n\n\n\n9 Months\n\n\n\n\n\n \n\n\n\nFY\n2020\n\n\n\nFY\n2020\n\n\n\nFY\n2019\n\n\n\n2020\n\n\n\n2019\n\n\n\n\n\nNet revenues\n\n\n\n$\n\n\n\n15.2\n\n\n\n \n\n\n\n$\n\n\n\n14.5\n\n\n\n \n\n\n\n$\n\n\n\n21.0\n\n\n\n \n\n\n\n$\n\n\n\n50.4\n\n\n\n \n\n\n\n$\n\n\n\n64.9\n\n\n\n \n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n6.0\n\n\n\n \n\n\n\n$\n\n\n\n5.4\n\n\n\n \n\n\n\n$\n\n\n\n7.9\n\n\n\n \n\n\n\n$\n\n\n\n19.5\n\n\n\n \n\n\n\n$\n\n\n\n24.8\n\n\n\n \n\n\n\n\n\nGross margin\n\n\n\n \n\n\n\n39\n\n\n\n%\n\n\n\n \n\n\n\n37\n\n\n\n%\n\n\n\n \n\n\n\n37\n\n\n\n%\n\n\n\n \n\n\n\n39\n\n\n\n%\n\n\n\n \n\n\n\n38\n\n\n\n%\n\n\n\n\n\nOperating income (loss)\n\n\n\n$\n\n\n\n0.0\n\n\n\n \n\n\n\n$\n\n\n\n(1.0\n\n\n\n)\n\n\n\n$\n\n\n\n1.4\n\n\n...