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Axcelis Announces Financial Results For Second Quarter 2020
Company Reports Strong Financial Performance BEVERLY, Mass., Aug. 4, 2020 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial
About this update from Axcelis Technologies, Inc.
[{"type":"text","content":"Company Reports Strong Financial Performance\n\n\nBEVERLY, Mass., Aug. 4, 2020 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the second quarter ended June 30, 2020. \n\n \n \n \n \n \n \n\n \nThe Company reported second quarter revenue of $123 million, compared to $119 million for the first quarter of 2020. Operating profit for the quarter was $16.4 million, compared to $13.7 million for the first quarter. Net income for the quarter was $13.3 million, or $0.39 per diluted share, compared to net income for the first quarter of $11.2 million, or $0.33 per diluted share. Gross margin for the quarter was 42.2%, compared to 38.3% in the first quarter. Cash, cash equivalents and restricted cash were $197 million on June 30, 2020, compared to $181.4 million on March 31, 2020. \nPresident and CEO Mary Puma commented, \"We are very pleased with our strong second quarter performance. Customer interest in our Purion platform remains strong, as evidenced by demo activity and evaluation system placements for both our Purion base platform and our new Purion product extensions. With the most innovative implant product line available, a broad and diverse customer base, a strong balance sheet and a dedicated team of employees, Axcelis has the building blocks to navigate these uncertain times and ultimately drive growth and market leadership in ion implantation.\"\nBusiness OutlookFor the third quarter ending September 30, 2020, Axcelis expects revenues to be approximately $110 million with gross margin around 42.5%. Third quarter operating profit is forecasted to be in the range of $10.5-11.5 million with earnings per diluted share of approximately $0.24.\nSecond Quarter 2020 Conference CallThe Company will host a call to discuss the results for the second quarter 2020 on Wednesday, August 5, 2020 at 8:30 am ET. The call will be available to interested listeners via an audio webcast that can be accessed through the Investors page of Axcelis' website at www.axcelis.com, or by dialing 866.588.8911 (707.294.1561 outside North America). Participants calling into the conference call will be requested to provide the company name, Axcelis Technologies, and Conference ID: 6153997. Please dial in at least 15 minutes in advance to ensure a timely connection to the call. Webcast replays will be available fo...