Amtech Systems Inc - ASYS STOCK NEWS

Amtech Systems (NASDAQ: ASYS) reported its Q3 2024 financial results, showing improvements despite market challenges. Key highlights include:

- Net revenue of $26.7 million, exceeding guidance
- GAAP operating income of $0.8 million
- Non-GAAP operating income of $1.5 million
- GAAP net income of $0.4 million ($0.03 per diluted share)
- Non-GAAP net income of $1.1 million ($0.08 per diluted share)
- Net cash position of $8.9 million

The company achieved its third consecutive quarter of positive adjusted EBITDA and operating cash flow, benefiting from approximately $7 million in annualized operating cost reductions. For Q4 2024, Amtech expects revenues between $22-25 million with nominally positive adjusted EBITDA.

Amtech Systems (NASDAQ: ASYS) announced a CFO transition, with Lisa Gibbs resigning effective August 7, 2024, to pursue an executive role elsewhere. Wade Jenke will succeed her as CFO on August 8, 2024. Jenke brings over 15 years of financial and operational experience, most recently serving as business unit CFO of the EMS Group at ASSA ABLOY AB. His background includes public financial reporting, FP&A, cost accounting, and manufacturing accounting.

CEO Bob Daigle thanked Gibbs for her eight-year contribution and welcomed Jenke, citing his impressive track record in financial and operational leadership at large publicly traded companies. Jenke expressed excitement about joining Amtech, acknowledging the company's leadership position in high-growth end-markets and his commitment to strengthening its market position and driving future growth.

Amtech Systems (NASDAQ: ASYS), a manufacturer of equipment and consumables for semiconductor fabrication and packaging, has announced it will release its third quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 5:00 pm ET on the same day to discuss the results and current business conditions.

CEO Robert Daigle and CFO Lisa Gibbs will lead the call, which will include a question-and-answer session. Interested parties can join the call by dialing +1-800-717-1738 (US) or +1-646-307-1865 (international). A live webcast will be available on the company's investor relations website, with a replay accessible for approximately 30 days after the call.

Amtech Systems, Inc. reported second quarter fiscal 2024 results with net revenue of $25.4 million, GAAP operating income of $1.4 million, and net proceeds of $2.5 million from the sale of corporate headquarters building. Despite market challenges, adjusted EBITDA was $0.8 million. The company took cost-cutting measures to align with market demand and expects revenues of $22 - 25 million for the third fiscal quarter. Amtech remains confident in future prospects by reducing structural costs and enhancing profitability.

Amtech Systems, Inc. (NASDAQ: ASYS) will announce its second quarter 2024 financial results on May 8, 2024. The company will discuss business conditions and conduct a Q&A session during a conference call hosted by the CEO and CFO.

Amtech Systems, Inc. reported Q1 Fiscal 2024 results with net revenue of $24.9 million, GAAP operating loss of $8.9 million, and non-GAAP operating loss of $0.2 million. The company achieved $6 million in cost savings and aims for operational efficiency improvements. However, GAAP net loss was $9.4 million, and the book to bill ratio was 0.9:1.

Amtech Systems, Inc. (ASYS) will announce its first quarter 2024 financial results on February 9, 2024, after market close. The company will host a conference call on February 12, 2024, to discuss the results. The call will be available live and via webcast. Robert Daigle, Lisa Gibbs, and Paul Lancaster will provide an overview of the quarter, discuss current business conditions, and conduct a question-and-answer session.

Amtech Systems, Inc. (ASYS) reported fourth quarter fiscal 2023 net revenue of $27.7 million, with a GAAP operating loss of $11.7 million, and a non-GAAP operating loss of $3.0 million. Fiscal 2023 net revenue was $113.3 million, with a GAAP operating loss of $15.0 million, and a non-GAAP operating loss of $0.2 million. The company's actions to reduce fixed costs and expenses, including a reduction in force and exiting legacy product lines, aim to improve profitability as demand recovers.

Amtech Systems, Inc. (NASDAQ: ASYS) reported a net revenue of $27.7 million for Q4 FY 2023 with customer orders of $18.2 million and a book to bill ratio of 0.7:1. For the full fiscal year 2023, the net revenue was $113.3 million, customer orders amounted to $103.9 million, and the book to bill ratio was 0.9:1. The company also announced a backlog of $51.8 million. However, due to the downturn in the semiconductor industry and delays in the adoption of next-gen polishing tools, Amtech anticipates an impairment charge in its Material and Substrate segment. The company experienced a 10% sequential decrease and a 14% year-over-year decrease in net revenues. Additionally, Amtech was not in compliance with its financial covenants under its Loan Agreement as of September 30, 2023, and entered into a Forbearance Agreement with UMB Bank. The outlook for Q1 FY 2024 indicates challenging near-term revenue and earnings, but the company remains confident in its long-term outlook.