Axcelis Updates and Increases Q4 2022 and Full Year 2022 Guidance

Rhea-AI Summary

Axcelis Technologies reported strong financial guidance for Q4 2022, anticipating revenue exceeding $250 million, surpassing previous estimates of $232-$240 million. For the full year 2022, revenue is expected to exceed $900 million, with earnings per diluted share anticipated to be over $1.45 in Q4 and exceed $5.00 for the full year. CEO Mary Puma emphasized robust customer demand for the Purion product family, hinting at year-over-year growth in 2023, supported by favorable foreign exchange impacts on earnings.

Positive

• Q4 2022 revenue guidance raised to over $250 million, exceeding prior estimates.
• Full year 2022 revenue expected to surpass $900 million.
• Projected earnings per diluted share for Q4 2022 exceed $1.45, up from previous guidance.
• CEO highlights strong demand for Purion product family, indicating potential growth in 2023.

Negative

• None.

Robust Customer Demand and Strong Execution Drove Record Annual Revenues and EPS

BEVERLY, Mass., Jan. 10, 2023 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today provided updated financial guidance for the fourth quarter of 2022 and the full year 2022. The Company expects revenue for the fourth quarter of 2022 to exceed $250 million, above prior guidance of approximately $232-240 million, and to deliver full year 2022 revenue above $900 million. Earnings per diluted share are forecasted to be greater than $1.45 for the fourth quarter, up from the previous guidance of approximately $1.00-1.10. The Company expects earnings per diluted share of greater than $5.00 for the full year 2022.

President and CEO Mary Puma commented, "Our performance in the fourth quarter was a result of strong execution by Axcelis employees delivering higher than expected system shipments and aftermarket revenue. Favorable FX also positively impacted our earnings per share in the quarter." Puma continued, "We expect year over year growth in 2023 based on robust demand for the Purion product family, especially in the power device segment."

Fourth Quarter and Full Year 2022 Conference Call

Axcelis Technologies will release financial results for the fourth quarter and full year 2022 on Monday, February 6, 2023, at 4:00 p.m. Eastern Time (ET). The Company will host a call to discuss the results for the fourth quarter and full year 2022 on Tuesday, February 7, 2023, at 8:30 a.m. 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 registering as a Participant here:  https://register.vevent.com/register/BI2c9198cd02354e0fb92ddec100489c61. Webcast replays will be available for 30 days following the call.

Safe Harbor Statement

This press release contains forward-looking statements under the SEC safe harbor provisions. These statements, which include our guidance for future reports of financial performance, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the timing of orders and shipments, the conversion of orders to revenue in any particular quarter, or at all, the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic, political and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.

About Axcelis:

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 40 years. Axcelis is dedicated to developing enabling process applications through the design, manufacture and complete life cycle support of ion implantation systems, one of the most critical and enabling steps in the IC manufacturing process. Learn more about Axcelis at www.axcelis.com.

CONTACT:

Maureen Hart (editorial/media) 978.787.4266,
Doug Lawson (investor relations) 978.787.9552

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SOURCE Axcelis Technologies, Inc.

FAQ

What is Axcelis Technologies' revenue forecast for Q4 2022?

Axcelis Technologies expects Q4 2022 revenue to exceed $250 million.

What are the earnings per diluted share estimates for Axcelis in Q4 2022?

Earnings per diluted share for Q4 2022 are projected to be greater than $1.45.

How does Axcelis' full year 2022 revenue forecast compare to previous guidance?

The full year 2022 revenue is expected to exceed $900 million, which is an increase from prior estimates.

When will Axcelis Technologies announce its financial results for Q4 2022?

Axcelis will release its financial results for Q4 and full year 2022 on February 6, 2023.