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Axcelis Announces Financial Results for Fourth Quarter and Full Year 2022
Achieved Record Annual Revenue, Gross Margin and EPS BEVERLY, Mass., Feb. 8, 2023 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced
About this update from Axcelis Technologies, Inc.
[{"type":"text","content":"Achieved Record Annual Revenue, Gross Margin and EPS\nBEVERLY, Mass., Feb. 8, 2023 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the fourth quarter and full year ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nHighlights include:\nRecord full year revenue, gross margin and EPS, enabling the Company to surpass its $850M revenue modelThe power device market segment accounted for 39% of our 2022 shipped systems revenue, driven by strong growth of the Purion Power Series™ product lineYear ending record backlog of greater than $1.1BAxcelis Achieved Record Annual Revenue, Gross Margin and EPS For the full year 2022, the Company reported revenue of $920 million, compared with $662.4 million for the full year 2021, an increase of 39% and a company record. Systems revenue for the year was $692.1 million, compared to $454.6 million in 2021, an increase of 52%, also a company record. Operating profit was $212.4 million in 2022, compared to $127.3 million in 2021, a 67% increase and a company record. Net income for the year was $183.1 million with diluted earnings per share of $5.46, compared to net income of $98.7 million and diluted earnings per share of $2.88 in 2021, resulting in a 86% net income year over year increase. Gross margin for the year was 43.7%, a 50 basis point improvement compared to 43.2% in 2021 and a company record.\nThe Company reported fourth quarter revenue of $266.1 million, compared to $229.2 million for the third quarter of 2022. Operating profit for the quarter was $56.1 million, compared to $53.2 million for the third quarter. Net income for the quarter was $57.0 million, or $1.71 per diluted share, compared to $40.3 million, or $1.21 per diluted share in the third quarter. Gross margin for the quarter was 41.2%, compared to 45.1% in the third quarter. Fourth quarter ended with bookings of $211.5 million and record systems backlog of $1.1 billion. Cash, cash equivalents and short-term investments were $432.2 million on December 31, 2022, compared to $342.1 million on September 30, 2022. This is net of $12.5 million of repurchased shares in the fourth quarter.\nPresident and CEO Mary Puma commented, \"2022 was another outstanding year for Axcelis. As a result of strong execution by the Axcelis team and robust demand for the Purion product family, we delivered r...