Axcelis(US:ACLS) Prnewswire·2024-05-01 20:01Core Insights - Axcelis Technologies, Inc. reported strong financial results for Q1 2024, with revenue of $252.4 million, gross margin of 46%, and net income of $51.6 million, exceeding guidance [1][2][3] Financial Performance - Q1 2024 revenue was $252.4 million, down from $310.3 million in Q4 2023 - Gross margin improved to 46% from 44.4% in Q4 2023 - Operating profit for Q1 2024 was $56.5 million, compared to $79.1 million in Q4 2023 - Net income was $51.6 million, or $1.57 per diluted share, down from $71.1 million, or $2.15 per diluted share in Q4 2023 [1][2][8] Business Outlook - For Q2 2024, Axcelis expects revenues of approximately $245 million and gross margin of about 43.5% - Operating profit for Q2 is forecasted to be around $47 million, with earnings per diluted share expected to be approximately $1.30 - The company anticipates revenue levels in the second half of 2024 to increase compared to the first half [3][2] Market Dynamics - The company highlighted strength in the implant-intensive power device segment, particularly in silicon carbide, as a key driver of business growth - Axcelis is expanding its customer base globally and enhancing its product offerings with the Purion™ Power Series [2][3]