Amtech Systems Inc.: Record Revenue in Fiscal 2011 Q1

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- Q1 Record Revenue of $52 Million
- Record Q1 Bookings of $134 Million
- Record Quarter-End Backlog of $172 Million
Tempe, Arizona - Amtech Systems, Inc. (NASDAQ:ASYS), a global supplier of production and automation systems and related supplies for the manufacture of solar cells, today reported preliminary results for its fiscal 2011 first quarter ended December 31, 2010, including record revenue of approximately $52 million ($45 million solar), a 14% increase over the preceding quarter and 235% increase over the first quarter of fiscal 2010, and record fiscal first quarter bookings of approximately $134 million ($126 million solar). The Company’s total order backlog at December 31, 2010 was a record $172 million, compared to $94 million at September 30, 2010. The Company expects to report final fiscal 2011 first quarter results in early February.
J.S. Whang, Chief Executive Officer of Amtech, commented, “Our strong preliminary revenue for the first quarter further demonstrates our technology leadership in high efficiency solar diffusion and our operational capability to manage and service this high-end growth market. With our continued success in expanding our solar market share with an increasing number of top tier solar customers, we recorded a record number of orders and continue to ramp up operations to support our record-breaking backlog and profitably manage our rapid growth.”
The fiscal 2011 first quarter financial information included in this release is preliminary and subject to change based on the Company’s quarterly close procedures.
About Amtech
Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal 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 solar cells, computers, telecommunications devices, automotive products, consumer goods, and industrial automation and control systems. The Company’s wafer handling, thermal processing and consumable products currently address the diffusion, oxidation and deposition steps used in the fabrication of solar cells, semiconductors, MEMS and the polishing of newly sliced silicon wafers.
Contacts:
Amtech Systems, Inc
Bradley C. Anderson
Chief Financial Officer
(480) 967-5146
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