Core Viewpoint - Amtech Systems (ASYS) reported quarterly earnings of $0.06 per share, exceeding the Zacks Consensus Estimate of a loss of $0.05 per share, and showing improvement from a loss of $0.04 per share a year ago [1][2]. Financial Performance - The earnings surprise for the quarter was 220%, with the company previously expected to post a loss of $0.04 per share but instead achieving break-even earnings, resulting in a 100% surprise [2]. - Amtech's revenues for the quarter ended December 2024 were $24.39 million, surpassing the Zacks Consensus Estimate by 3.77%, although this represents a decline from year-ago revenues of $24.92 million [3]. - The company has consistently exceeded consensus EPS and revenue estimates over the last four quarters [2][3]. Stock Performance and Outlook - Amtech shares have declined approximately 3.7% since the beginning of the year, contrasting with the S&P 500's gain of 2.7% [4]. - The company's earnings outlook is mixed, with current consensus EPS estimates of $0.02 on $26 million in revenues for the upcoming quarter and $0.15 on $110 million in revenues for the current fiscal year [8]. - The Zacks Rank for Amtech is currently 3 (Hold), indicating expected performance in line with the market in the near future [7]. Industry Context - The Semiconductor - General industry, to which Amtech belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting potential challenges ahead [9]. - The performance of Amtech's stock may be influenced by the overall outlook for the semiconductor industry [9].

Amtech Systems (ASYS) Q1 2025 Earnings Call February 05, 2025 05:00 PM ET Company Participants Erica Mannion - Sapphire Investor RelationsRobert Daigle - President, Chairman & CEOWade Jenke - Chief Financial Officer Conference Call Participants Kevin Garrigan - Research Analyst Operator Good day, and welcome to the Amtech Systems Fiscal First Quarter twenty twenty five Earnings Conference Call. Please note that this event is being recorded. I would now like to turn the call over to Erica Mannion of Sapphire ...

Financial Performance - Net revenue for Q1 FY 2025 was $24.4 million, a 1% increase sequentially from Q4 FY 2024 and a 2% decrease from Q1 FY 2024[6]. - Adjusted EBITDA for Q1 FY 2025 was $1.9 million, reflecting a $1.8 million year-over-year increase[5]. - GAAP net income for Q1 FY 2025 was $0.3 million, or $0.02 per share, compared to a net loss of $0.5 million in Q4 FY 2024 and a loss of $9.4 million in Q1 FY 2024[12]. - Revenue for the three months ended December 31, 2024, was $24.385 million, a slight decrease from $24.920 million in the same period of 2023, representing a decline of approximately 2.1%[26]. - The company reported a net loss of $0.312 million for the three months ended December 31, 2024, compared to a net loss of $0.358 million in the same period of 2023[26]. - For the three months ended December 31, 2024, Amtech Systems reported a net income of $312,000, a significant improvement compared to a net loss of $9,358,000 in the same period of 2023[28]. - Non-GAAP net income for the three months ended December 31, 2024, was $826,000, compared to a loss of $634,000 in the same period of 2023[30]. Cash and Liquidity - Unrestricted cash and cash equivalents increased to $13.2 million as of December 31, 2024, up from $11.1 million at September 30, 2024[14]. - Cash and cash equivalents at the end of the period were $13,214,000, down from $17,033,000 at the end of December 2023[28]. - The company experienced a net cash provided by operating activities of $2,867,000, a decrease from $4,971,000 in the prior year[28]. - Cash and cash equivalents increased to $13.214 million from $11.086 million, reflecting a growth of approximately 19.2%[27]. Expenses and Cost Management - SG&A expenses decreased by $0.7 million sequentially and $0.5 million year-over-year, primarily due to fixed cost reductions[10]. - Research, Development and Engineering expenses decreased by $0.1 million sequentially and $0.7 million year-over-year, attributed to timing of project-related purchases[11]. - The company continues to focus on operational excellence and cost optimization initiatives to enhance profitability through market cycles[5]. Assets and Liabilities - Total current assets as of December 31, 2024, were $64.267 million, slightly down from $64.376 million at September 30, 2024[27]. - Total liabilities decreased to $35.334 million from $36.595 million, showing a reduction of about 3.5%[27]. - Shareholders' equity increased to $82.442 million from $82.358 million, indicating a growth of approximately 0.1%[27]. - Accounts receivable decreased to $20.822 million from $21.989 million, a decline of about 5.3%[27]. - Inventories decreased to $25.611 million from $26.867 million, reflecting a decrease of approximately 4.7%[27]. - The company maintained goodwill at $21.261 million, unchanged from the previous quarter[27]. Segment Performance - The Semiconductor Fabrication Solutions Segment reported a GAAP gross profit of $2,034,000, with a gross margin of 36%[29]. - The Thermal Processing Solutions Segment achieved a GAAP gross profit of $7,329,000, with a gross margin of 39%[29]. - GAAP gross margin for Q1 FY 2025 was 38.4%, compared to 40.7% in Q4 FY 2024 and 33.0% in Q1 FY 2024[7]. - The GAAP gross profit for the same period was $9,363,000, resulting in a gross margin of 38%, compared to a gross margin of 33% in December 2023[29]. Future Outlook - The company expects revenues for Q2 FY 2025 to be in the range of $21 million to $23 million, with adjusted EBITDA expected to be nominally positive[18].

Financial Performance - Total net revenue for the three months ended December 31, 2024, was $24.4 million, a decrease of approximately $0.5 million or 2% compared to $24.9 million in the same period of 2023[92] - Gross profit for the three months ended December 31, 2024, was $9.4 million, representing a gross margin of 38%, an increase from $8.2 million and 33% in the same period of 2023[95] - The company recognized no impairment of goodwill during the quarter ended December 31, 2024, compared to a goodwill impairment of $6.4 million in the same quarter of 2023[99] Orders and Backlog - New orders for the Thermal Processing Solutions segment decreased by 23% to $13.2 million for the three months ended December 31, 2024, down from $17.1 million in 2023[94] - Total backlog as of December 31, 2024, was $19.0 million, a decrease of 62% from $50.0 million in the same period of 2023[94] Expenses - Research, development, and engineering expenses for the three months ended December 31, 2024, were $0.9 million, down from $1.6 million in the same period of 2023[98] - Selling, general and administrative expenses decreased to $8.1 million for the three months ended December 31, 2024, compared to $8.6 million in the same period of 2023[96] Tax and Cash Flow - The effective tax rate for the three months ended December 31, 2024, was 58.8%, compared to (0.6%) in the same period of 2023[103] - Net cash provided by operating activities decreased to $2.9 million for the three months ended December 31, 2024, down from $5.0 million in the same period of 2023, reflecting a decline of approximately 42.0%[107] Cash Management - Cash used in investing activities was $0.1 million for the three months ended December 31, 2024, compared to $0.8 million in the same period of 2023, indicating a reduction of 87.5%[109] - Cash provided by financing activities was $0.1 million for the three months ended December 31, 2024, while cash used was $0.5 million in the same period of 2023, showing a shift from outflow to inflow[110] - Cash and cash equivalents increased by $2.1 million from September 30, 2024, totaling $13.2 million as of December 31, 2024, compared to $11.1 million at the beginning of the period[105] Working Capital and Liquidity - Working capital rose to $45.3 million as of December 31, 2024, up from $44.8 million on September 30, 2024, reflecting an increase of approximately 1.2%[105] - The current ratio improved to 3.4:1 as of December 31, 2024, compared to 3.3:1 on September 30, 2024, indicating a stronger liquidity position[105] Purchase Obligations and Strategic Plans - Unrecorded purchase obligations decreased to $7.9 million as of December 31, 2024, down from $12.1 million as of September 30, 2024, a decline of approximately 34.6%[112] - The company plans to reinvest cash from operating activities into strategic projects during periods of weakening demand[106] Corporate Actions - The company completed the sale of its corporate headquarters real property in Arizona, resulting in a net cash inflow of approximately $2.5 million[89] - The company continues to pursue acquisitions to supplement organic growth, with a focus on expanding operations outside of mainland China to enhance supply chain resiliency[88] Off-Balance Sheet Arrangements - There were no off-balance sheet arrangements as of December 31, 2024, that could materially affect the company's financial condition[111]

Industry Dynamics - The semiconductor equipment industry is highly cyclical and volatile, with demand and profitability subject to significant fluctuations due to various factors [100]. - The company faces intense competition from larger manufacturers with greater resources, which may hinder its ability to compete effectively [103]. - Competition from Asian suppliers presents challenges due to their lower operating costs and favorable government policies, impacting the company's market position [126]. - The company may encounter difficulties in managing business cycles, impacting its ability to capitalize on market opportunities [109]. - Uncertain global economic conditions, including slowing growth in major economies, may lead to reduced customer orders and negatively affect net sales and backlog [130]. Customer Concentration and Revenue Sources - As of September 30, 2024, one customer represented 12% of accounts receivable, indicating a concentration risk that could impact financial stability [120]. - In 2024, 59% of net revenue came from international customers, with Asia contributing 43% (including China at 20%) and Europe at 16% [125]. - The company relies on a limited number of customers and products, making it vulnerable to revenue fluctuations if major customers are lost [119]. Financial Risks and Management - The company terminated its existing credit facility in September 2024, raising concerns about future access to financing [105]. - The company actively monitors credit risk by requiring significant partial payments and letters of credit from certain customers [120]. - The company maintains cash deposits exceeding federally insured limits, which poses liquidity risks in the event of bank failures or adverse developments in financial institutions [140]. - The company is exposed to risks from currency fluctuations, which could materially affect future financial performance despite not having been significantly impacted in the past [129]. - The company is monitoring the impact of U.S. export control restrictions, particularly those affecting its operations in China, which could significantly harm its business if further restrictions are imposed [164]. Operational Challenges - Manufacturing interruptions or delays could lead to increased costs and affect the ability to meet customer demand [122]. - Inventory management is critical, as excess inventory could lead to obsolescence and reduced liquidity, while insufficient inventory may result in lost sales [131]. - The company relies on a diverse supplier base, but disruptions or quality issues from key suppliers could increase operating costs and impact product competitiveness [133]. Regulatory and Compliance Risks - Regulatory changes, particularly related to cybersecurity and climate disclosures, may increase compliance costs and legal risks for the company [146]. - The company is subject to various international laws and regulations, including anti-corruption laws, which could result in significant legal and financial consequences if violated [151]. - The company faces inherent risks related to anti-corruption and anti-bribery laws, which could expose it to liabilities for the actions of its employees and business partners [153]. - The company is subject to various environmental laws and regulations, which may result in material costs for compliance and liabilities for past contamination [156]. Product and Innovation Risks - The company must continually innovate to keep pace with rapid technological changes in the semiconductor industry, which requires significant investment in research and development [173]. - The company has made significant investments in its intellectual property, but faces risks from potential violations by third parties, which could lead to costly litigation [174]. - The company’s ability to protect its proprietary rights is challenged by the lengthy and costly patent process, and the expiration of certain patents may diminish its competitive advantage [176]. - Intellectual property infringement claims could lead to substantial damages, including treble damages if willful infringement is found, impacting the company's financial condition [179]. Shareholder and Governance Issues - Shareholder activists may disrupt business operations and increase costs related to legal and administrative expenses, potentially affecting strategic direction [185]. - Provisions in corporate governing documents may deter takeovers and limit shareholder influence over management changes, impacting corporate governance [187]. - Arizona law may further complicate business combinations with interested shareholders, potentially delaying changes in control [188]. - The company is electing scaled disclosure reporting obligations as a smaller reporting company, limiting the information provided about market risks [286]. Warranty and Product Reliability - As of September 30, 2024, the company's accrued warranty costs amounted to $0.6 million, down from $1.0 million in 2023, indicating potential concerns regarding product reliability [165]. - The company may face challenges in meeting customer demands for social and environmental responsibility, which could impact sales and operating results [170]. - The company has no reserves for potential environmental liabilities, which could result in significant future expenditures [158]. Market Volatility - The common stock price has experienced significant volatility, ranging from $11.98 to $3.37 over the two-year period ending September 30, 2024 [180]. - The company faces risks from speculation in the press and investment community, which can affect stock price due to competition and external factors like tariffs and pandemics [181].

Financial Performance - Net revenue for Q4 fiscal 2024 was $24.1 million, a decrease of 10% sequentially and 13% year-over-year[5]. - GAAP net loss for Q4 fiscal 2024 was $0.5 million, or $0.04 per share, compared to a GAAP net income of $0.4 million, or $0.03 per share, in the previous quarter[9]. - Fiscal 2024 total net revenue reached $101.2 million, with a GAAP net loss of $8.5 million[2]. - The net loss for the year ended September 30, 2024, was $8,486,000, compared to a net loss of $12,582,000 for the previous year[24]. - GAAP net loss for the three months ended September 30, 2024, was $(536) thousand, compared to $(8,486) thousand for the year ended September 30, 2024[27]. - The GAAP net loss per diluted share for the year ended September 30, 2024, was $(0.60), compared to $(0.89) for the previous year[26]. - The company reported a non-GAAP net loss income per diluted share of $0.00 for the year ended September 30, 2024, compared to $(0.02) for the previous year[26]. Revenue and Orders - Customer orders for Q4 fiscal 2024 totaled $17.6 million, while the backlog stood at $25.3 million[2]. - New orders for the three months ended September 30, 2024, totaled $17,587, down from $18,185 in the same period last year[22]. - Backlog as of September 30, 2024, was $25,312, a decrease from $51,794 as of September 30, 2023[22]. Profitability and Expenses - Adjusted EBITDA for Q4 fiscal 2024 was $0.8 million, marking the fourth consecutive quarter of positive adjusted EBITDA[3]. - Structural cost reductions of approximately $7 million annually are anticipated to enhance profitability[14]. - Research, Development and Engineering expenses decreased by $1.6 million compared to the prior year period[8]. - Research, development, and engineering expenses for the three months ended September 30, 2024, were $991, down from $2,597 in the same period last year[22]. - GAAP gross profit for the three months ended September 30, 2024, was $9,803, significantly higher than $2,794 for the same period in 2023, resulting in a gross margin increase from 10% to 41%[22]. - Non-GAAP gross profit for the year ended September 30, 2024, was $37,528,000, compared to $41,684,000 for the previous year, with a non-GAAP gross margin of 37%[25]. Cash Flow and Assets - Cash provided by operations for fiscal 2024 was $9.8 million, with unrestricted cash at $11.1 million as of September 30, 2024[11]. - Total current assets decreased to $64,376 as of September 30, 2024, from $81,189 as of September 30, 2023[23]. - Cash and cash equivalents decreased to $11,086 as of September 30, 2024, from $13,133 as of September 30, 2023[23]. - The company had cash and cash equivalents of $11,086,000 at the end of the year, down from $13,133,000 at the beginning of the year[24]. Debt and Liabilities - The company fully repaid $10.7 million on its debt agreement during the quarter[2]. - Total liabilities decreased to $36,595 as of September 30, 2024, from $48,656 as of September 30, 2023[23]. Future Outlook - The company expects revenues for Q1 fiscal 2025 to be in the range of $21 million to $24 million, with nominally positive adjusted EBITDA[14].

Amtech Systems (ASYS) shares have gained 47.9% year to date (YTD), outperforming the Zacks Computer and Technology Sector and S&P 500 index’s return of 17.6% and 16.2%, respectively, YTD.ASYS has also outperformed its Zacks Semiconductor - General industry peers, including Texas Instruments (TXN) , STMicroelectronics (STM) and Intel (INTC) . Shares of Texas Instruments have gained 18.8% YTD. Shares of STMicroelectronics and Intel have plunged 43.5% and 60.9% in the same time frame.The outperformance of ASYS ...

Amtech Systems (ASYS) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of a loss of $0.05 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 260%. A quarter ago, it was expected that this provider of equipment for solar panel and semiconductor makers would post a loss of $0.11 per share when it actually produced a loss of $0.01, delivering a su ...

EXHIBIT 99.1 Amtech Reports Third Quarter 2024 Results TEMPE, Ariz., August 7, 2024 -- 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission File Number: 0-11412 AMTECH SYSTEMS, INC. (Exact name of registrant as specified in its charter) | --- | --- | ...