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Posted: December 19, 2007
Amtech Reiterates Strong Business Fundamentals and Outlook
(Nanowerk News) Amtech Systems, Inc. (NASDAQ:ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, semiconductors, and silicon wafers, today reiterated its strong business fundamentals, order growth, and outlook for fiscal year 2008.
For fiscal 2008, Amtech has guided for revenue to be in the range of $65 to $75 million, representing growth of approximately 40% to 60% over fiscal 2007.
As the Company stated in its fourth quarter earnings release dated December 12, 2007, Amtech’s sequential revenue guidance for its fiscal 2008 first quarter ended December 31, 2007 was adversely impacted by the timing of shipment and acceptance of several systems moving into the second quarter of fiscal 2008. This change has no impact on the Company’s underlying business conditions or fundamentals. Delay’s in delivery or product acceptance by a customer can have a significant impact on Amtech’s recorded sales in any given quarter, given its diffusion system’s average selling prices are greater than $500,000 and often include tools with sale prices in excess of $1 million.
Fiscal 2008 year-to-date (since October 1, 2007) solar orders totaling approximately $19 million.
Record FY2007 bookings of $55.5 million, up 40% compared to FY2006
Orders in Q4 FY2007 of $15.6 million, resulting in a book-to-bill ratio of 1.2
Total order backlog at September 30, 2007 of $23.2 million, a 70% increase over the prior year.
Total order backlog includes approximately $17.4 million in solar orders, representing a 128% increase over $7.6 million of solar backlog at September 30, 2006. The $17.4 million in solar backlog does not include the additional $19 million in solar orders received in Q1 of fiscal 2008. Backlog includes deferred revenue and customer orders that are expected to ship within fiscal 2008.
Q4 FY2007 solar book-to-bill ratio of 2.2
About Amtech Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal semiconductor processing equipment and related consumables used in fabricating solar cells and semiconductor devices. Semiconductors, or semiconductor chips, are fabricated on silicon wafer substrates, sliced from ingots, and are part of the circuitry, or electronic components, of many products including computers, telecommunications devices, automotive products, consumer goods, and industrial automation and control systems. Amtech’s semiconductor handling, thermal processing and consumable products currently address the polishing of newly sliced silicon wafers and reclaimed test wafers and the oxidation and deposition steps used in the fabrication of solar cells, semiconductors, and MEMS.
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Litigation Reform Act. Such statements may use words such as “proposed,” "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to Amtech Systems, Inc. or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions including the risk that this offering does not close and the risks discussed in our filings with the Securities and Exchange Commission. If one or more of these risks materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements contained in this press release reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
This earnings release should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2007.