Amtech Reiterates Fiscal 2010 Revenue Guidance Of $100-$105 Million;
Amtech Systems, Inc, a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and silicon wafers, has announced that it is reiterating its fiscal 2010 revenue guidance of $100-$105 million, based on its strong solar backlog and continued success in ramping up operations. Additionally, the Company expects GAAP operating margins to equal or exceed 10 percent in the second half of fiscal 2010.
Orders in the second quarter of fiscal 2010 totalled $33 million, including $28 million of solar orders. Amtech's total orders in the first six months of fiscal 2010, which began October 1, 2009, have surpassed $92 million, including $83 million of solar orders. Amtech also reported preliminary revenue and results today for its fiscal 2010 second quarter ended March 31, 2010. Amtech's preliminary revenue for the second quarter is approximately $16 million, representing a 46% increase over the same period a year ago. Second quarter preliminary revenue is lower than the Company's previous guidance of $17-$19 million due primarily to a rescheduling of several systems to one customer; two of these systems shipped in early April and the remaining are expected to ship next week. As a result of lower second quarter revenue and ramp up of operating costs to support the growth in the second half of fiscal 2010, Amtech expects to report a loss for the quarter ended March 31, 2010.
J.S. Whang, Chief Executive Officer of Amtech, commented, "With the tremendous influx of orders we have seen in the December and March quarters, we continue to successfully ramp up our operations to profitably manage our rapid growth. Within a very short period of time, we have more than doubled our production capacity and have added key personnel across all areas to execute our record order bookings. While there is still much to accomplish, we are on track to produce record volumes in the June and September quarters and to deliver on our revenue guidance of $100-$105 million for fiscal 2010."
The fiscal 2010 second quarter financial information included in this release is preliminary and subject to change based on the Company's quarterly close procedures. Operating results for future quarters could be impacted by the timing of system shipments, the net impact of revenue deferral on those shipments, and recognition of revenue based on customer acceptances, all of which can have a significant effect on operating results.
