Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer
of equipment and consumables for semiconductor fabrication and
packaging, today reported results for its third quarter ended June
30, 2024.
Third Quarter Fiscal 2024 Financial and Operational
Results:
- Net revenue of $26.7 million
- GAAP operating income of $0.8 million
- Net cash position of $8.9 million
- Non-GAAP operating income of $1.5 million (1)
- GAAP net income of $0.4 million
- Non-GAAP net income of $1.1 million (1)
- Customer orders of $18.8 million
- Backlog of $31.8 million
(1) See GAAP to non-GAAP reconciliation in
schedules following this release.
“In the third quarter we continued to align our cost structure
with current market conditions and lay the foundation for
meaningful operating leverage as our markets recover. Revenue of
$26.7 million exceeded the high-end of our guidance range, and we
achieved adjusted EBITDA of $2.3 million. This is the third
consecutive quarter of positive adjusted EBITDA and operating cash
flow. I am pleased that we are seeing the financial benefits of the
approximately $7 million of annualized operating cost reductions
taken over the past few quarters,” commented Mr. Bob Daigle, Chief
Executive Officer of Amtech.
GAAP and Non-GAAP Financial Results
(in millions, except per share
amounts)
Q3
Q2
Q3
9 Months
9 Months
FY 2024
FY 2024
FY 2023
2024
2023
Revenues, net
$
26.7
$
25.4
$
30.7
$
77.1
$
85.6
Gross profit
$
9.8
$
8.5
$
11.0
$
26.4
$
32.8
Gross margin
36.5
%
33.2
%
35.7
%
34.3
%
38.3
%
Non-GAAP gross profit (1)
$
9.8
$
8.6
$
11.0
$
27.7
$
32.8
Non-GAAP gross margin (1)
36.5
%
33.9
%
35.7
%
36.0
%
38.3
%
GAAP operating income (loss)
$
0.8
$
1.4
$
(1.1
)
$
(6.8
)
$
(3.3
)
GAAP operating margin
3.1
%
5.4
%
-3.6
%
-8.8
%
-3.8
%
Non-GAAP operating income (loss) (1)
$
1.5
$
0.2
$
0.4
$
1.5
$
2.9
Non-GAAP operating margin (1)
5.6
%
0.7
%
1.2
%
1.9
%
3.3
%
GAAP net income (loss)
$
0.4
$
1.0
$
(1.0
)
$
(8.0
)
$
(0.6
)
GAAP net income (loss) per diluted
share
$
0.03
$
0.07
$
(0.07
)
$
(0.56
)
$
(0.04
)
Non-GAAP net income (loss) (1)
$
1.1
$
(0.2
)
$
0.3
$
0.3
$
2.2
Non-GAAP net income (loss) per diluted
share (1)
$
0.08
$
(0.01
)
$
0.02
$
0.02
$
0.16
(1) See GAAP to non-GAAP reconciliation in
schedules following this release.
Net revenues increased 5% sequentially and decreased 13% from
the third quarter of fiscal 2023. The sequential increase is
primarily due to increased sales of our reflow and wafer cleaning
equipment, and higher parts and services revenue. The decrease from
prior year is primarily attributable to lower sales across most of
our product portfolio due to a slow-down in the broader
semiconductor market.
In the third quarter of fiscal 2024, GAAP gross margin increased
sequentially compared to the same prior year period. On a
sequential basis, GAAP gross margin in our Semiconductor segment
was positively affected by product mix attributed to increased
revenues for reflow equipment, parts and services. GAAP gross
margin in our Materials and Substrate segment decreased on a
sequential basis due primarily to a less favorable product mix of
consumables and equipment. Compared to the same prior year period,
GAAP gross margin was relatively consistent between periods.
Selling, General & Administrative (“SG&A”) expenses
decreased by approximately $40,000 on a sequential basis and
decreased $2.1 million compared to the prior year period. The
sequential decrease is due primarily to reductions in labor-related
expenses, partially offset by increased commissions and shipping
expenses on higher sales. Compared to the same prior year period,
the decrease is due primarily to lower labor and labor-related
expenses as a result of our cost reduction initiatives, as well as
lower shipping expenses on lower revenues.
Research, Development and Engineering expenses decreased $0.2
million sequentially and decreased $1.1 million compared to the
same prior year period, with the sequential decrease due primarily
to the timing of purchases related to specific projects in both
segments, and the decrease from prior year attributable to
development efforts in our Material & Substrate segment that
did not recur.
GAAP operating income was $0.8 million, compared to GAAP
operating income of $1.4 million in the second quarter of fiscal
2024 and GAAP operating loss of $1.1 million in the same prior year
period.
Non-GAAP operating income was $1.5 million, compared to non-GAAP
operating income of $0.2 million in the second quarter of fiscal
2024 and non-GAAP operating income of $0.4 million in the same
prior year period.
GAAP net income for the third quarter of fiscal 2024 was $0.4
million, or 3 cents per share. This compares to GAAP net income of
$1.0 million, or 7 cents per share, for the preceding quarter and
GAAP net loss of $1.0 million, or 7 cents per share, for the third
quarter of fiscal 2023.
Non-GAAP net income for the third quarter of fiscal 2024 was
$1.1 million, or 8 cents per share. This compares to non-GAAP net
loss of $0.2 million, or 1 cent per share, for the preceding
quarter and non-GAAP net income of $0.3 million, or 2 cents per
share, for the third quarter of fiscal 2023.
Unrestricted cash and cash equivalents at June 30, 2024, were
$13.2 million, compared to $13.1 million at September 30, 2023.
Debt payments during the three months ended June 30, 2024 were $0.3
million. Net cash as of June 30, 2024 was $8.9 million compared to
$2.4 million as of September 30, 2023.
In discussing financial results for the three and nine months
ended June 30, 2024 and 2023 and the three months ended June 30,
2024, in this press release, the Company refers to certain
financial measures that are adjusted from the financial results
prepared in accordance with United States generally accepted
accounting principles ("GAAP"). All non-GAAP amounts exclude
certain adjustments for stock compensation expense, severance
expense, expenses related to the discontinued product line, gain on
the sale of our Arizona headquarters, moving expenses, amortization
of acquired intangible assets, acquisition expenses, and income tax
benefit related to our acquisition of Entrepix, Inc. A tabular
reconciliation of financial measures prepared in accordance with
GAAP to the non-GAAP financial measures is included at the end of
this press release.
Outlook
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.
For the fourth fiscal quarter ending September 30, 2024, we
expect revenues in the range of $22 - 25 million with adjusted
EBITDA nominally positive. Although the near-term outlook for
revenue and earnings remains challenging, we remain confident that
the future prospects are strong for both our consumables and
equipment serving advanced mobility and advanced packaging
applications. We took actions during the first and second quarters
of fiscal 2024, which will reduce Amtech's structural costs by
approximately $7 million annually and better align product pricing
with value. These steps should significantly improve results and
enhance profitability through market cycles.
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.
Conference Call
Amtech Systems will host a conference call at 5:00 pm ET on
Wednesday, August 7, 2024 to discuss our fiscal third quarter
financial results. The call will be available to interested parties
by dialing 1-800-717-1738. For international callers, please dial
+1-646-307-1865. A live webcast of the conference call will be
available in the Investor Relations section of Amtech’s website at:
https://www.amtechsystems.com/investors/events.
A replay of the webcast will be available in the Investor
Relations section of the company’s website at
http://www.amtechsystems.com/conference.htm shortly after the
conclusion of the call and will remain available for approximately
30 calendar days.
About Amtech Systems, Inc.
Amtech Systems, Inc. is a leading, global manufacturer of
thermal processing, wafer cleaning and chemical mechanical
polishing (CMP) capital equipment and related consumables used in
semiconductor, advanced mobility and renewable energy manufacturing
applications. We sell process equipment and services used in the
fabrication of semiconductor devices, such as silicon carbide
(SiC), silicon power, electronic assemblies and modules to
semiconductor device and module manufacturers worldwide,
particularly in Asia, North America and Europe. Our strategic focus
is on growth opportunities which leverage our strengths in thermal
and substrate processing. Amtech's products are recognized under
the leading brand names BTU International, Entrepix, Inc., PR
Hoffman™ and Intersurface Dynamics, Inc.
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,
operating results, business strategies, projected 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, 2023, 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.
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Summary Financial Information
(in thousands, except
percentages)
Three Months Ended
Nine Months Ended June
30,
June 30, 2024
March 31, 2024
June 30, 2023
2024
2023
Amtech Systems, Inc.
Revenues, net
$
26,749
$
25,433
$
30,740
$
77,102
$
85,608
GAAP gross profit
$
9,758
$
8,451
$
10,985
$
26,428
$
32,758
Non-GAAP gross profit
$
9,758
$
8,626
$
10,985
$
27,725
$
32,758
GAAP gross margin
36
%
33
%
36
%
34
%
38
%
Non-GAAP gross margin
36
%
34
%
36
%
36
%
38
%
GAAP operating income (loss)
$
816
$
1,363
$
(1,119
)
$
(6,755
)
$
(3,280
)
Non-GAAP operating income
$
1,498
$
188
$
368
$
1,476
$
2,860
New orders
$
18,814
$
19,771
$
26,217
$
61,690
$
85,712
Backlog
$
31,837
$
44,316
$
61,315
$
31,837
$
61,315
Semiconductor Segment
Revenues, net
$
18,038
$
17,441
$
19,841
$
53,006
$
58,775
GAAP gross profit
$
6,313
$
5,040
$
6,707
$
17,513
$
21,810
Non-GAAP gross profit
$
6,313
$
5,040
$
6,707
$
17,513
$
21,810
GAAP gross margin
35
%
29
%
34
%
33
%
37
%
Non-GAAP gross margin
35
%
29
%
34
%
33
%
37
%
GAAP operating income
$
1,690
$
896
$
1,042
$
3,666
$
4,861
Non-GAAP operating income
$
1,703
$
896
$
1,042
$
3,790
$
4,861
New orders
$
10,801
$
12,061
$
18,293
$
39,990
$
63,983
Backlog
$
27,673
$
39,455
$
53,219
$
27,673
$
53,219
Material and Substrate Segment
Revenues, net
$
8,711
$
7,992
$
10,899
$
24,096
$
26,833
GAAP gross profit
$
3,445
$
3,411
$
4,278
$
8,915
$
10,948
Non-GAAP gross profit
$
3,445
$
3,586
$
4,278
$
10,212
$
10,948
GAAP gross margin
40
%
43
%
39
%
37
%
41
%
Non-GAAP gross margin
40
%
45
%
39
%
42
%
41
%
GAAP operating income (loss)
$
1,621
$
900
$
481
$
(5,321
)
$
1,411
Non-GAAP operating income
$
1,802
$
1,300
$
1,506
$
3,556
$
4,077
New orders
$
8,013
$
7,710
$
7,924
$
21,700
$
21,729
Backlog
$
4,164
$
4,861
$
8,096
$
4,164
$
8,096
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Statements of
Operations
(in thousands, except per share
data)
Three Months Ended June
30,
Nine Months Ended June
30,
2024
2023
2024
2023
Revenues, net
$
26,749
$
30,740
$
77,102
$
85,608
Cost of sales
16,991
19,755
49,825
52,850
Intangible asset impairment
—
—
849
—
Gross profit
9,758
10,985
26,428
32,758
Selling, general and administrative
8,209
10,300
25,028
30,924
Research, development and engineering
693
1,804
3,202
4,714
Gain on sale of fixed assets
—
—
(2,197
)
—
Goodwill impairment
—
—
6,370
—
Intangible asset impairment
—
—
430
—
Severance expense
40
—
350
400
Operating income (loss)
816
(1,119
)
(6,755
)
(3,280
)
Interest income
2
17
35
356
Interest expense
(107
)
(185
)
(498
)
(342
)
Foreign currency gain (loss)
182
456
(5
)
(59
)
Other
2
15
11
19
Income (loss) before income tax
provision
895
(816
)
(7,212
)
(3,306
)
Income tax provision (benefit)
457
211
738
(2,739
)
Net income (loss)
$
438
$
(1,027
)
$
(7,950
)
$
(567
)
Income (Loss) Per Share:
Net income (loss) per basic share
$
0.03
$
(0.07
)
$
(0.56
)
$
(0.04
)
Net income (loss) per diluted share
$
0.03
$
(0.07
)
$
(0.56
)
$
(0.04
)
Weighted average shares
outstanding:
Basic
14,209
14,058
14,198
14,031
Diluted
14,254
14,058
14,198
14,031
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Balance Sheets
(in thousands, except share
data)
June 30, 2024
September 30, 2023
Assets
Current Assets
Cash and cash equivalents
$
13,183
$
13,133
Accounts receivable (less allowance for
credit losses of $89 and $146 at June 30, 2024 and September 30,
2023, respectively)
24,292
26,474
Inventories
28,753
34,845
Income taxes receivable
91
632
Other current assets
4,074
6,105
Total current assets
70,393
81,189
Property, Plant and Equipment - Net
12,362
9,695
Right-of-Use Assets - Net
17,559
11,217
Intangible Assets - Net
4,178
6,114
Goodwill
21,261
27,631
Deferred Income Taxes - Net
115
101
Other Assets
1,191
1,074
Total Assets
$
127,059
$
137,021
Liabilities and Shareholders’
Equity
Current Liabilities
Accounts payable
$
8,330
$
10,815
Accrued compensation and related taxes
1,762
3,481
Accrued warranty expense
749
965
Other accrued liabilities
1,348
1,551
Current maturities of finance lease
liabilities and long-term debt
4,064
2,265
Current portion of long-term operating
lease liabilities
1,856
2,623
Contract liabilities
9,291
8,018
Total current liabilities
27,400
29,718
Finance Lease Liabilities and Long-Term
Debt
177
8,422
Long-Term Operating Lease Liabilities
16,129
8,894
Income Taxes Payable
1,582
1,575
Other Long-Term Liabilities
53
47
Total Liabilities
45,341
48,656
Commitments and Contingencies
Shareholders’ Equity
Preferred stock; 100,000,000 shares
authorized; none issued
—
—
Common stock; $0.01 par value; 100,000,000
shares authorized; shares issued and outstanding: 14,208,795 and
14,185,977 at June 30, 2024 and September 30, 2023,
respectively
142
142
Additional paid-in capital
128,146
126,963
Accumulated other comprehensive loss
(1,575
)
(1,695
)
Retained deficit
(44,995
)
(37,045
)
Total Shareholders’ Equity
81,718
88,365
Total Liabilities and Shareholders’
Equity
$
127,059
$
137,021
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Consolidated Statements of Cash
Flows
(in thousands)
Nine Months Ended June
30,
2024
2023
Operating Activities
Net loss
$
(7,950
)
$
(567
)
Adjustments to reconcile net loss to net
cash provided by (used in) operating activities:
Depreciation and amortization
2,310
3,435
Write-down of inventory
1,367
1,233
Goodwill impairment
6,370
—
Intangible asset impairment
1,279
—
Deferred income taxes
(13
)
(3,430
)
Non-cash share-based compensation
expense
1,155
528
Gain on sale of property, plant and
equipment
(2,197
)
—
Provision for allowance for credit
losses
(21
)
109
Changes in operating assets and
liabilities:
Accounts receivable
2,204
2,391
Inventories
4,695
(4,724
)
Other assets
4,205
1,775
Accounts payable
(1,965
)
(1,586
)
Accrued income taxes
548
(1,947
)
Accrued and other liabilities
(4,298
)
(2,993
)
Contract liabilities
1,274
(1,374
)
Net cash provided by (used in) operating
activities
8,963
(7,150
)
Investing Activities
Purchases of property, plant and
equipment
(5,310
)
(1,922
)
Proceeds from the sale of property, plant
and equipment
2,700
6
Acquisition, net of cash and cash
equivalents acquired
—
(34,938
)
Net cash used in investing activities
(2,610
)
(36,854
)
Financing Activities
Proceeds from the exercise of stock
options
28
539
Payments on long-term debt
(6,668
)
(949
)
Borrowings on long-term debt
—
12,000
Net cash (used in) provided by financing
activities
(6,640
)
11,590
Effect of Exchange Rate Changes on Cash
and Cash Equivalents
337
(155
)
Net Increase (Decrease) in Cash and
Cash Equivalents
50
(32,569
)
Cash and Cash Equivalents, Beginning of
Period
13,133
46,874
Cash and Cash Equivalents, End of
Period
$
13,183
$
14,305
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of GAAP to Non-GAAP
Financial Measures
(in thousands, except per share
data)
Three Months Ended
Nine Months Ended June
30,
June 30, 2024
March 31, 2024
June 30, 2023
2024
2023
Amtech Systems, Inc. Gross
Profit:
GAAP gross profit
$
9,758
$
8,451
$
10,985
$
26,428
$
32,758
Write-down of inventory related to
polishing equipment
-
175
-
448
-
Intangible asset impairment
-
-
-
849
-
Non-GAAP gross profit
$
9,758
$
8,626
$
10,985
$
27,725
$
32,758
GAAP gross margin
36
%
33
%
36
%
34
%
38
%
Non-GAAP gross margin
36
%
34
%
36
%
36
%
38
%
Semiconductor Segment Gross
Profit:
GAAP gross profit
$
6,313
$
5,040
$
6,707
$
17,513
$
21,810
Write-down of inventory related to
polishing equipment
-
-
-
-
-
Intangible asset impairment
-
-
-
-
-
Non-GAAP gross profit
$
6,313
$
5,040
$
6,707
$
17,513
$
21,810
GAAP gross margin
35
%
29
%
34
%
33
%
37
%
Non-GAAP gross margin
35
%
29
%
34
%
33
%
37
%
Material and Substrate Segment Gross
Profit:
GAAP gross profit
$
3,445
$
3,411
$
4,278
$
8,915
$
10,948
Write-down of inventory related to
polishing equipment
-
175
-
448
-
Intangible asset impairment
-
-
-
849
-
Non-GAAP gross profit
$
3,445
$
3,586
$
4,278
$
10,212
$
10,948
GAAP gross margin
40
%
43
%
39
%
37
%
41
%
Non-GAAP gross margin
40
%
45
%
39
%
42
%
41
%
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of GAAP to Non-GAAP
Financial Measures
(in thousands, except per share
data)
Three Months Ended
Nine Months Ended June
30,
June 30, 2024
March 31, 2024
June 30, 2023
2024
2023
Amtech Systems, Inc. Operating Income
(Loss):
GAAP operating income (loss)
$
816
$
1,363
$
(1,119
)
$
(6,755
)
$
(3,280
)
Gain on sale of fixed assets
-
(2,197
)
-
(2,197
)
-
Building move expense
-
231
-
231
-
Acquisition expenses
-
-
272
-
3,242
Write-down of inventory related to
polishing equipment
-
175
-
448
-
Amortization of acquired intangible
assets
154
154
1,025
595
1,970
Stock compensation expense
488
350
190
1,155
528
Goodwill impairment
-
-
-
6,370
-
Intangible asset impairment
-
-
-
1,279
-
Severance expense
40
112
-
350
400
Non-GAAP operating income
$
1,498
$
188
$
368
$
1,476
$
2,860
GAAP operating margin
3.1
%
5.4
%
(3.6
)%
(8.8
)%
(3.8
)%
Non-GAAP operating margin
5.6
%
0.7
%
1.2
%
1.9
%
3.3
%
Semiconductor Segment Operating
Income:
GAAP operating income
$
1,690
$
896
$
1,042
$
3,666
$
4,861
Severance expense
13
-
-
124
-
Non-GAAP operating income
$
1,703
$
896
$
1,042
$
3,790
$
4,861
Material and Substrate Segment
Operating Income (Loss):
GAAP operating income (loss)
$
1,621
$
900
$
481
$
(5,321
)
$
1,411
Acquisition expenses
-
-
-
-
696
Write-down of inventory related to
polishing equipment
-
175
-
448
-
Amortization of acquired intangible
assets
154
154
1,025
595
1,970
Goodwill impairment
-
-
-
6,370
-
Intangible asset impairment
-
-
-
1,279
-
Severance expense
27
71
-
185
-
Non-GAAP operating income
$
1,802
$
1,300
$
1,506
$
3,556
$
4,077
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of GAAP to Non-GAAP
Financial Measures
(in thousands, except per share
data)
Three Months Ended
Nine Months Ended June
30,
June 30, 2024
March 31, 2024
June 30, 2023
2024
2023
Consolidated Net Income (Loss):
GAAP net income (loss)
$
438
$
970
$
(1,027
)
$
(7,950
)
$
(567
)
Gain on sale of fixed assets
-
(2,197
)
-
(2,197
)
-
Building move expense
-
231
-
231
-
Acquisition expenses
-
-
272
-
3,242
Write-down of inventory related to
polishing equipment
-
175
-
448
-
Amortization of acquired intangible
assets
154
154
1,025
595
1,970
Stock compensation expense
488
350
190
1,155
528
Goodwill impairment
-
-
-
6,370
-
Intangible asset impairment
-
-
-
1,279
-
Severance expense
40
112
-
350
400
Income tax provision related to
acquisition
-
-
(182
)
-
(3,346
)
Non-GAAP net income (loss)
$
1,120
$
(205
)
$
278
$
281
$
2,227
Net (Loss) Income per Diluted
Share:
GAAP net income (loss) per diluted
share
$
0.03
$
0.07
$
(0.07
)
$
(0.56
)
$
(0.04
)
Gain on sale of fixed assets
-
(0.15
)
-
(0.15
)
-
Building move expense
-
0.02
-
0.01
-
Acquisition expenses
-
-
0.02
-
0.23
Write-down of inventory related to
polishing equipment
-
0.01
-
0.03
-
Amortization of acquired intangible
assets
0.01
0.01
0.07
0.04
0.14
Stock compensation expense
0.03
0.02
0.01
0.08
0.04
Goodwill impairment
-
-
-
0.45
-
Intangible asset impairment
-
-
-
0.09
-
Severance expense
0.01
0.01
-
0.02
0.03
Income tax provision related to
acquisition
-
-
(0.01
)
-
(0.24
)
Non-GAAP net income (loss) per diluted
share
$
0.08
$
(0.01
)
$
0.02
$
0.02
$
0.16
AMTECH SYSTEMS, INC.
(NASDAQ: ASYS)
(Unaudited)
Reconciliation of Net Income (Loss) to
EBITDA and Adjusted EBITDA
(in thousands, except per share
data)
Three Months Ended June 30,
2024
Nine Months Ended June 30,
2024
Amtech Systems, Inc. EBITDA:
GAAP net income (loss)
$
438
$
(7,950
)
Interest income
(2
)
(35
)
Interest expense
107
498
Income tax provision
457
738
Depreciation and amortization expense
738
2,310
EBITDA
1,738
(4,439
)
Gain on sale of fixed assets
-
(2,197
)
Building move expense
-
231
Write-down of inventory related to
polishing equipment
-
448
Stock compensation expense
488
1,155
Goodwill impairment
-
6,370
Intangible asset impairment
-
1,279
Severance expense
40
350
Adjusted EBITDA
$
2,266
$
3,197
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240807940271/en/
Amtech Systems, Inc. Lisa D. Gibbs Chief Financial Officer (480)
360-3756 irelations@amtechsystems.com
Sapphire Investor Relations, LLC Erica Mannion and Mike Funari
(617) 542-6180 irelations@amtechsystems.com
Amtech Systems (NASDAQ:ASYS)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Amtech Systems (NASDAQ:ASYS)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
