Amtech Systems Stock Price, News & Analysis

Amtech Systems (NASDAQ: ASYS) reported its Q3 2024 financial results, showing improvements despite market challenges. Key highlights include:

- Net revenue of $26.7 million, exceeding guidance
- GAAP operating income of $0.8 million
- Non-GAAP operating income of $1.5 million
- GAAP net income of $0.4 million ($0.03 per diluted share)
- Non-GAAP net income of $1.1 million ($0.08 per diluted share)
- Net cash position of $8.9 million

The company achieved its third consecutive quarter of positive adjusted EBITDA and operating cash flow, benefiting from approximately $7 million in annualized operating cost reductions. For Q4 2024, Amtech expects revenues between $22-25 million with nominally positive adjusted EBITDA.

Amtech Systems (NASDAQ: ASYS) announced a CFO transition, with Lisa Gibbs resigning effective August 7, 2024, to pursue an executive role elsewhere. Wade Jenke will succeed her as CFO on August 8, 2024. Jenke brings over 15 years of financial and operational experience, most recently serving as business unit CFO of the EMS Group at ASSA ABLOY AB. His background includes public financial reporting, FP&A, cost accounting, and manufacturing accounting.

CEO Bob Daigle thanked Gibbs for her eight-year contribution and welcomed Jenke, citing his impressive track record in financial and operational leadership at large publicly traded companies. Jenke expressed excitement about joining Amtech, acknowledging the company's leadership position in high-growth end-markets and his commitment to strengthening its market position and driving future growth.

Amtech Systems (NASDAQ: ASYS), a manufacturer of equipment and consumables for semiconductor fabrication and packaging, has announced it will release its third quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 5:00 pm ET on the same day to discuss the results and current business conditions.

CEO Robert Daigle and CFO Lisa Gibbs will lead the call, which will include a question-and-answer session. Interested parties can join the call by dialing +1-800-717-1738 (US) or +1-646-307-1865 (international). A live webcast will be available on the company's investor relations website, with a replay accessible for approximately 30 days after the call.

Amtech Systems, Inc. reported second quarter fiscal 2024 results with net revenue of $25.4 million, GAAP operating income of $1.4 million, and net proceeds of $2.5 million from the sale of corporate headquarters building. Despite market challenges, adjusted EBITDA was $0.8 million. The company took cost-cutting measures to align with market demand and expects revenues of $22 - 25 million for the third fiscal quarter. Amtech remains confident in future prospects by reducing structural costs and enhancing profitability.