Amtech Systems (ASYS) Reports In-Line Q1 EPS

Amtech Systems (NASDAQ: ASYS) reported Q1 EPS of ($0.09), in-line with the analyst estimate of ($0.09). Revenue for the quarter came in at $20.7 million versus the consensus estimate of $16.77 million.

Mr. Michael Whang, Chief Executive Officer of Amtech, commented, "We continue to prepare for the anticipated strengthening of the semiconductor market in the second half of 2020 and for longer-term organic growth opportunities. We are investing in new product development, market-advancing technologies, our people, capacity expansion and IT systems. We also continue to evaluate strategic M&A opportunities to build upon our strengths in the high growth areas in semi and silicon carbide."

Mr. Whang continued, "In the first quarter of fiscal 2020, we shipped our 300 mm diffusion furnace to a new top-tier, power semiconductor customer. We have also just announced another order for the 300mm clustered HTR diffusion furnace, further validating our power semiconductor strategy and the market interest in this technology. With this new order we are establishing close relationships with top-tier global power semiconductor customers in North America, Europe and Asia."

For earnings history and earnings-related data on Amtech Systems (ASYS) click here.

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