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Amtech Reports Record Revenue Of $71.9 Million; EPS Of $0.74 For Q3 Fiscal 2011

Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and sapphire and silicon wafers, today reported financial results for its third quarter fiscal 2011 ended June 30, 2011.

Third Quarter Financial Highlights:
  • Record net revenue of $71.9 million, up 67% from $43.1 million in Q3 Fiscal 2010
  • Record solar revenue of $60.7 million, up 61% from $37.6 million in Q3 Fiscal 2010
  • Gross margin of 36%, compared to 37% in Q3 Fiscal 2010
  • Operating income of $12.1 million, up 89% from $6.4 million in Q3 Fiscal 2010
  • EPS of $0.74 per diluted share, up 76% from EPS of $0.42 per diluted share in Q3 Fiscal 2010
  • Quarterly bookings of $13.5 million ($7.2 million solar); fiscal year-to-date bookings of $223 million ($196 million solar)
  • Quarter-end backlog of $140.5 million ($130.0 million solar)

J.S. Whang, Chief Executive Officer of Amtech, commented, “For the third quarter, we achieved a fifth consecutive quarter of record revenue, reflecting our technology leadership in high efficiency solar diffusion, and continued strong bottom line results that further demonstrate our operational capability to manage and service the high growth cycles of the solar market. While our order pipeline has slowed significantly given the near-term uncertainty in the broader PV market, we maintain a healthy backlog of $140 million, remain on track to produce and ship at a significant volume in the September quarter, and expect to achieve our full-year revenue guidance for fiscal 2011. During this solar down cycle, we are intensifying our efforts to increase our diffusion market share and execute on our key solar development programs, including our solar ion implant project.”

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