Axcelis(US:ACLS) Prnewswireยท2025-02-10 21:01Financial Performance - For the full year 2024, the company reported revenue of $1.02 billion, a decrease from $1.13 billion in 2023. Systems revenue was $782.6 million, down from $883.6 million in 2023. Operating profit was $210.8 million compared to $265.8 million in 2023. Net income for the year was $201 million with diluted earnings per share of $6.15, down from net income of $246.3 million and diluted earnings per share of $7.43 in 2023. Gross margin improved to 44.7% from 43.5% in 2023 [2][4]. - In Q4 2024, the company reported revenue of $252.4 million, slightly down from $256.6 million in Q3 2024. Gross margin for the quarter was 46.0%, an increase from 42.9% in Q3. Operating profit for the quarter was $54.5 million, up from $46.9 million in Q3. Net income for the quarter was $50 million, or $1.54 per diluted share, compared to $48.6 million, or $1.49 per diluted share in Q3 [3][8]. Management Commentary - The President and CEO highlighted that the company exited the year strongly, with Q4 revenue and profitability exceeding expectations. Looking ahead to 2025, the company anticipates a cyclical digestion period as customers adjust to previous investments, particularly in China. The focus will be on long-term growth opportunities through product innovation, cost management, and collaboration with customers on technology roadmaps [4]. - The Executive Vice President and CFO expressed satisfaction with the financial execution in 2024, noting the ability to deliver higher gross margins and solid free cash flow despite a revenue decline. The company returned capital to shareholders via buybacks and ended the year with a stronger balance sheet, positioning itself to invest during the cyclical digestion period [4]. Business Outlook - For Q1 2025, the company expects revenues of approximately $185 million and earnings per diluted share of approximately $0.38 [5].