3. Amtech Systems (ASYS) manufactures capital equipment, including silicon wafer handling automation, thermal processing equipment and related consumables used in fabricating solar cells, LED and semiconductor devices.
Net revenue for the second quarter of fiscal 2011 was $61.3 million, up 281% from $16.1 million for the second quarter of the earlier year, primarily driven by higher solar shipments. Total order value for the quarter was $73 million, with $60 million solar. At the end of March 2011, the company's order backlog was $195 million.
Gross margin improved to 40% from 29% in the second quarter of fiscal 2010, driven by efficient capacity utilization from higher shipment volumes. Net income for the second quarter of fiscal 2011 was $7.5 million as against $206,000 during the second quarter of the prior year.Amtech has revised its financial guidance for the full year 2011 upward with revenue seen exceeding $240 million, up 100% from fiscal 2010. For the third quarter of 2011, Amtech pegs revenue to range from $63 million to $66 million. The stock has analysts' buy ratings of 67% and is expected to deliver 61% over the next one year. The stock is trading at 7.2 times its estimated 2011 earnings.
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