ACM Research Announces Preliminary Unaudited Revenue Range for Third Quarter 2022
ACM Research, Inc. (NASDAQ: ACMR) has projected its preliminary unaudited revenue for Q3 2022 to fall between $128 million and $133 million. These figures will undergo a final review, and actual results will be disclosed in an earnings call scheduled for November 4, 2022. A significant portion of ACM's revenue is generated through its subsidiary, ACM Research (Shanghai), which reported its financial results separately. ACM holds an 82.5% stake in ACM Shanghai, and its financial reporting follows the U.S. GAAP standards.
- Preliminary Q3 2022 revenue projected between $128 million and $133 million, indicating potential growth.
- Preliminary results are subject to final review, which may alter projections.
- Risks associated with dependence on ACM Shanghai for revenue and potential discrepancies in financial reporting.
FREMONT, Calif., Oct. 27, 2022 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging (WLP) applications, today announced that its preliminary unaudited revenue for the third quarter of 2022 is expected to be in the range of
Today’s release of ACM’s third quarter 2022 preliminary unaudited expected revenue range coincides with the release of unaudited financial results by ACM Research (Shanghai), Inc., ACM’s principal operating subsidiary (ACM Shanghai), to the Shanghai Stock Exchange website [link to China Disclosure]. ACM currently owns an
About ACM Research, Inc.
ACM develops, manufactures, and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes, which are critical to advanced semiconductor device manufacturing and wafer-level packaging. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmrcsh.com.
Forward-Looking Statements
Information presented in this press release includes forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements in the first paragraph with respect to the estimated amount and timing of revenue in 2022. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. Those risks and uncertainties include, but are not limited to, the following, any of which could be exacerbated even further by the continuing COVID-19 outbreak in China and globally: anticipated customer orders or identified market opportunities may not grow or develop as anticipated; customer orders already received may be postponed or canceled; ACM may be unable to obtain the qualification and acceptance of its delivered tools when anticipated or at all, which would delay or preclude ACM’s recognition of revenue from the sale of those tools; suppliers may not be able to meet ACM’s demands on a timely basis; ACM’s technologies and tools may not gain market acceptance; ACM may be unable to compete effectively by, among other things, enhancing its existing tools, adding additional production capacity and engaging additional major customers; ACM may incur significant expenses long before it can recognize revenue from new products, if at all, due to the costs and length of research, development, manufacturing and customer evaluation process cycles; volatile global economic, market, industry and other conditions could result in sharply lower demand for products containing semiconductors and for ACM’s products and in disruption of capital and credit markets; ACM’s failure to successfully manage its operations, including its inability to hire, train, integrate and manage additional qualified engineers for research and development activities; and trade regulations, including those recently published by the U.S. Department of Commerce imposing certain restrictions on equipment shipments and business practices with China-based semiconductor manufacturers, currency fluctuations, political instability and war, all of which may materially and adversely affect ACM due to its substantial non-U.S. customer and supplier base and its substantial non-U.S. manufacturing operations. A further description of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
© ACM Research, Inc. The ACM Research logo is a trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.
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FAQ
What is ACMR's projected revenue for Q3 2022?
When will ACMR release its complete financial results for Q3 2022?
What percentage of ACMR's revenue comes from ACM Shanghai?
How does ACMR report its financials?
