Amtech Reports Third Quarter Fiscal 2023 Results

About this update from Amtech Systems, Inc.

[{"type":"text","content":" TEMPE, Ariz.--(BUSINESS WIRE)--\nAmtech Systems, Inc. (\"Amtech\") (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, analog and discrete devices, and electronic assemblies and modules focusing on enabling technologies for electric vehicles (EV) and clean technology (CleanTech) applications, today reported results for its third quarter ended June 30, 2023.\n\n\nThird Quarter Fiscal 2023 Financial and Operational Highlights:\n\n\n\nNet revenue of $30.7 million\n\n\n\nGAAP operating loss of $1.1 million\n\n\n\nNon-GAAP operating income of $0.4 million (1)\n\n\n\nGAAP net loss of $1.0 million\n\n\n\nNon-GAAP net income of $0.3 million (1)\n\n\n\nGAAP net loss per diluted share of $0.07\n\n\n\nNon-GAAP net income per diluted share of $0.02 (1)\n\n\n\nCustomer orders of $26.2 million\n\n\n\nBook to bill ratio of 0.9:1\n\n\n\nBacklog of $61.3 million.\n\n\n\n“I am excited to take on the role of CEO and am looking forward to leading Amtech and driving efforts to fully capitalize on the exciting growth opportunities before us. In the coming quarters, we will focus our efforts on operational and supply chain improvements to ensure that we create meaningful value from the secular drivers influencing our business. We will be outlining our targets and plans in more detail on our next earnings call,” commented Mr. Bob Daigle, Chief Executive Officer of Amtech.\n\n\n(1) See GAAP to non-GAAP reconciliation in schedules following this release.\n\n\nGAAP and Non-GAAP Financial Results\n\n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\n\nQ3\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ3\n\n\n\n\n\n\n \n\n\n\n\n\n\n9 Months\n\n\n\n\n\n\n \n\n\n\n\n\n\n9 Months\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nFY 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nRevenues, net\n\n\n\n\n\n\n$\n\n\n\n\n\n\n30.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n33.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n20.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n85.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n74.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross profi...

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