Amtech Provides Second Quarter Fiscal 2025 Financial Guidance Update
Amtech Systems (NASDAQ: ASYS) has updated its fiscal Q2 2025 guidance, revealing significant challenges. The company faces a customer dispute involving a delayed $4.9 million order shipment in its Thermal Processing Solutions Segment. Additionally, the Semiconductor Fabrication Solutions Segment experienced weaker demand due to softening in the mature node semiconductor industry.
The company has revised its Q2 revenue guidance to $15-16 million, down from the original $21-23 million, with nominally negative adjusted EBITDA instead of the previously expected positive EBITDA. Despite these challenges, Amtech expects to maintain neutral cash flow.
Due to the prolonged downturn in the mature node semiconductor industry, including Silicon Carbide, Amtech anticipates a material impairment charge related to goodwill, intangible, and inventory assets for Q2 2025. However, the company reports strong demand for advanced packaging reflow equipment, particularly in AI-related applications, with Q2 orders exceeding FY2024 shipments.
Amtech Systems (NASDAQ: ASYS) ha aggiornato le sue previsioni per il secondo trimestre fiscale del 2025, rivelando sfide significative. L'azienda si trova ad affrontare una controversia con un cliente riguardante la spedizione di un ordine da 4,9 milioni di dollari in ritardo, nel suo segmento di Soluzioni di Elaborazione Termica. Inoltre, il segmento delle Soluzioni di Fabbricazione di Semiconduttori ha registrato una domanda più debole a causa di un rallentamento nell'industria dei semiconduttori a nodo maturo.
L'azienda ha rivisto le sue previsioni di fatturato per il secondo trimestre a 15-16 milioni di dollari, in calo rispetto ai precedenti 21-23 milioni di dollari, con un EBITDA rettificato nominalmente negativo invece del previsto EBITDA positivo. Nonostante queste sfide, Amtech si aspetta di mantenere un flusso di cassa neutro.
A causa del prolungato calo nell'industria dei semiconduttori a nodo maturo, compreso il Carburo di Silicio, Amtech prevede un'importante svalutazione relativa a avviamenti, beni immateriali e inventario per il secondo trimestre del 2025. Tuttavia, l'azienda riporta una forte domanda per attrezzature di riflusso per imballaggi avanzati, in particolare nelle applicazioni legate all'IA, con ordini del secondo trimestre che superano le spedizioni dell'anno fiscale 2024.
Amtech Systems (NASDAQ: ASYS) ha actualizado su guía para el segundo trimestre fiscal de 2025, revelando desafíos significativos. La empresa enfrenta una disputa con un cliente relacionada con el envío retrasado de un pedido de 4.9 millones de dólares en su segmento de Soluciones de Procesamiento Térmico. Además, el segmento de Soluciones de Fabricación de Semiconductores experimentó una demanda más débil debido a la desaceleración en la industria de semiconductores de nodo maduro.
La compañía ha revisado su guía de ingresos para el segundo trimestre a 15-16 millones de dólares, por debajo de la original 21-23 millones de dólares, con un EBITDA ajustado nominalmente negativo en lugar del EBITDA positivo previamente esperado. A pesar de estos desafíos, Amtech espera mantener un flujo de efectivo neutral.
Debido a la prolongada recesión en la industria de semiconductores de nodo maduro, incluido el Carburo de Silicio, Amtech anticipa un cargo por deterioro material relacionado con activos de buena voluntad, intangibles e inventario para el segundo trimestre de 2025. Sin embargo, la compañía informa de una fuerte demanda de equipos de reflujo para empaques avanzados, particularmente en aplicaciones relacionadas con la IA, con pedidos del segundo trimestre que superan los envíos del año fiscal 2024.
Amtech Systems (NASDAQ: ASYS)는 2025 회계 연도 2분기 가이드를 업데이트하며 상당한 도전에 직면해 있음을 밝혔습니다. 회사는 열처리 솔루션 부문에서 490만 달러의 주문 배송 지연과 관련된 고객 분쟁을 겪고 있습니다. 또한 반도체 제조 솔루션 부문은 성숙 노드 반도체 산업의 둔화로 인해 수요가 약해졌습니다.
회사는 2분기 수익 가이드를 1500만-1600만 달러로 수정했으며, 이는 원래의 2100만-2300만 달러에서 하향 조정된 것입니다. 예상했던 긍정적인 EBITDA 대신 명목상으로 부정적인 조정 EBITDA를 기록할 것으로 보입니다. 이러한 도전에도 불구하고 Amtech는 중립적인 현금 흐름을 유지할 것으로 예상하고 있습니다.
성숙 노드 반도체 산업, 특히 실리콘 카바이드의 장기적인 하락으로 인해 Amtech는 2025 회계 연도 2분기에 대한 영업권, 무형 자산 및 재고 자산과 관련된 중요한 손상 차감을 예상하고 있습니다. 그러나 회사는 AI 관련 응용 프로그램에서 특히 고급 패키징 리플로우 장비에 대한 강한 수요를 보고하고 있으며, 2분기 주문이 2024 회계 연도 배송량을 초과하고 있습니다.
Amtech Systems (NASDAQ: ASYS) a mis à jour ses prévisions pour le deuxième trimestre fiscal 2025, révélant des défis significatifs. L'entreprise fait face à un litige avec un client concernant un envoi de commande de 4,9 millions de dollars retardé dans son segment de Solutions de Traitement Thermique. De plus, le segment des Solutions de Fabrication de Semiconducteurs a connu une demande plus faible en raison d'un ralentissement dans l'industrie des semi-conducteurs à nœud mature.
L'entreprise a révisé ses prévisions de revenus pour le deuxième trimestre à 15-16 millions de dollars, en baisse par rapport aux 21-23 millions de dollars prévus initialement, avec un EBITDA ajusté nominalement négatif au lieu de l'EBITDA positif précédemment attendu. Malgré ces défis, Amtech s'attend à maintenir un flux de trésorerie neutre.
En raison de la baisse prolongée dans l'industrie des semi-conducteurs à nœud mature, y compris le carbure de silicium, Amtech prévoit une charge de dépréciation significative liée à la goodwill, aux actifs incorporels et aux stocks pour le deuxième trimestre 2025. Cependant, l'entreprise rapporte une forte demande pour des équipements de reflow d'emballage avancés, en particulier dans les applications liées à l'IA, avec des commandes du deuxième trimestre dépassant les expéditions de l'exercice 2024.
Amtech Systems (NASDAQ: ASYS) hat seine Prognose für das zweite fiskalische Quartal 2025 aktualisiert und erhebliche Herausforderungen offengelegt. Das Unternehmen sieht sich mit einem Kundenstreit konfrontiert, der eine verspätete Lieferung einer Bestellung im Wert von 4,9 Millionen Dollar im Bereich Thermische Verarbeitungslösungen betrifft. Darüber hinaus erlebte der Bereich Halbleiterfertigungslösungen eine schwächere Nachfrage aufgrund der Abschwächung in der reifen Halbleiterindustrie.
Das Unternehmen hat seine Umsatzprognose für das zweite Quartal auf 15-16 Millionen Dollar nach unten korrigiert, im Vergleich zu den ursprünglichen 21-23 Millionen Dollar, mit einem nominal negativem bereinigten EBITDA anstelle des zuvor erwarteten positiven EBITDA. Trotz dieser Herausforderungen erwartet Amtech, einen neutralen Cashflow aufrechtzuerhalten.
Aufgrund des langanhaltenden Rückgangs in der reifen Halbleiterindustrie, einschließlich Siliziumkarbid, rechnet Amtech mit einer wesentlichen Wertminderung von Goodwill, immateriellen Vermögenswerten und Vorräten für das zweite Quartal 2025. Das Unternehmen berichtet jedoch von einer starken Nachfrage nach fortschrittlichen Verpackungs-Reflow-Geräten, insbesondere in KI-bezogenen Anwendungen, wobei die Bestellungen im zweiten Quartal die Lieferungen des Geschäftsjahres 2024 übersteigen.
- Strong demand for advanced packaging reflow equipment in AI applications
- Q2 orders for advanced packaging equipment exceeded FY2024 shipments
- Expected neutral cash flow despite challenges
- Revenue guidance reduced by ~27% to $15-16M from $21-23M
- Adjusted EBITDA revised from positive to negative
- Material impairment charges expected for goodwill, intangible, and inventory assets
- $4.9M order shipment delayed due to customer dispute
- Weakening demand in mature node semiconductor industry
Insights
Amtech's Q2 fiscal 2025 guidance update reveals significant financial challenges that warrant investor attention. The company has slashed revenue expectations by approximately
Most concerning is the anticipated material impairment charge related to goodwill, intangible assets, and inventory. While the magnitude remains undetermined, such impairments typically indicate management's assessment that certain assets' carrying values exceed their recoverable amounts due to diminished future cash flow expectations. This suggests a structural rather than merely cyclical challenge in the mature node business.
The one positive financial indicator is that despite revenue shortfall and negative EBITDA, Amtech expects to maintain cash flow neutrality in Q2, demonstrating effective working capital management. However, without detailed cash flow projections, it's unclear how sustainable this position remains if industry weakness persists.
The impending impairment charge creates additional uncertainty around Amtech's balance sheet strength and potential implications for debt covenants, though specific debt information isn't provided. Investors should closely monitor the upcoming earnings call in May for crucial details on impairment magnitude and recovery timeline.
Amtech's guidance update highlights the diverging trajectories within semiconductor manufacturing equipment markets. The company is experiencing a prolonged downturn in mature node semiconductor production, including silicon carbide, which is driving both immediate revenue shortfalls and necessitating asset impairments. This mature node weakness aligns with broader industry patterns where capacity investments have slowed as chip manufacturers remain cautious about expansion.
In contrast, Amtech's advanced packaging reflow equipment segment shows remarkable strength, particularly in AI-related applications. Q2 orders in this segment have already surpassed shipments for the entire 2024 fiscal year, indicating substantial backlog growth. This divergence reflects the semiconductor industry's current reality: declining investment in legacy nodes while advanced packaging (critical for AI chips) sees accelerated demand.
The
Amtech's mention of "actively exploring opportunities to further optimize costs" suggests potential restructuring to align operations with the reality of prolonged mature node weakness while positioning to capitalize on AI-driven advanced packaging growth. The company's ability to execute this strategic pivot will determine whether it can leverage the significant operating leverage potential mentioned when broader markets recover.
Amtech’s Thermal Processing Solutions Segment experienced a customer dispute during its fiscal second quarter. The dispute involves a previously cancelled order and resulted in the shipping delay of a separate order in the amount of approximately
As a result of these challenges in the second quarter, the Company now expects second quarter revenues in the range of
In addition, due to the prolonged downturn in the mature node semiconductor industry, which includes Silicon Carbide, the Company anticipates a material impairment charge related to goodwill, intangible, and inventory assets in the quarter which ended on March 31, 2025. Due to the complexity and judgement involved in the valuation and impairment analysis, the Company is working with its external advisors to determine the extent of this impairment. The nature and extent of the impairment charge will be communicated during the Company’s second quarter earnings call in May.
“We remain encouraged by the strong demand for our advanced packaging reflow equipment, particularly within AI-related applications. Of note, orders for our advanced packaging reflow equipment during the second quarter surpassed shipments for the entire 2024 fiscal year. As we navigate market conditions in the mature node semiconductor industry, we are continuing to actively explore opportunities to further optimize costs and improve efficiency. Despite the near-term challenges, we are confident in the long-term growth potential of Amtech’s product portfolio and believe the strong operating leverage resulting from optimization efforts will allow us to deliver enhanced profitability when markets recover,” commented Mr. Bob Daigle, Chief Executive Officer of Amtech.
Operating results can be significantly impacted, positively or negatively, by the timing of orders, system shipments, logistical challenges, and the financial results of semiconductor manufacturers. Additionally, the semiconductor equipment industries can be cyclical and inherently impacted by changes in market demand. Actual results may differ materially in the weeks and months ahead.
A portion of Amtech's results is denominated in Renminbis, a Chinese currency. The outlook provided in this press release is based on an assumed exchange rate between the United States Dollar and the Renminbi. Changes in the value of the Renminbi in relation to the United States Dollar could cause actual results to differ from expectations.
About Amtech Systems, Inc.
Amtech Systems, Inc. provides equipment, consumables and services for semiconductor wafer fabrication and device packaging. Our products are used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon (Si) power devices, digital and analog devices, power electronic packages, advanced semiconductor packages and electronic assemblies. We sell these products to semiconductor device and module manufacturers worldwide, particularly in
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this press release is forward-looking in nature. All statements in this press release, or made by management of Amtech Systems, Inc. and its subsidiaries ("Amtech"), other than statements of historical fact, are hereby identified as "forward-looking statements" (as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995). The forward-looking statements in this press release relate only to events or information as of the date on which the statements are made in this press release. Examples of forward-looking statements include statements regarding Amtech's future financial results, long term future prospects, operating results, business strategies, projected costs, the optimization and reduction of structural costs, products under development, competitive positions, plans and objectives of Amtech and its management for future operations, efforts to improve operational efficiencies and effectiveness and profitably grow our revenue, and enhancements to our technologies and expansion of our product portfolio. In some cases, forward-looking statements can be identified by terminology such as "may," "plan," "anticipate," "seek," "will," "expect," "intend," "estimate," "believe," "continue," "predict," "potential," "project," "should," "would," "could", "likely," "future," "target," "forecast," "goal," "observe," and "strategy" or the negative of these terms or other comparable terminology used in this press release or by our management, which are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. The Form 10-K that Amtech filed with the Securities and Exchange Commission (the "SEC") for the year-ended September 30, 2024, listed various important factors that could affect the Company's future operating results and financial condition and could cause actual results to differ materially from historical results and expectations based on forward-looking statements made in this document or elsewhere by Amtech or on its behalf. These factors can be found under the heading "Risk Factors" in the Form 10-K and in our subsequently filed Quarterly Reports on Form 10-Qs, and investors should refer to them. Because it is not possible to predict or identify all such factors, any such list cannot be considered a complete set of all potential risks or uncertainties. Except as required by law, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events, or otherwise.
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Amtech Systems, Inc.
Wade Jenke
Chief Financial Officer
irelations@amtechsystems.com
Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
617-542-6180
irelations@amtechsystems.com
Source: Amtech Systems, Inc.
FAQ
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