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Amtech Systems, global supplier of production equipment for solar, semiconductor, and LED markets, has released its financial results for its third quarter of fiscal year 2016 ended June 30, 2016. Shipments increase in the solar segment partially contributed to the growth of net revenue. Amtech also announced new orders for PECVD equipment in July.
Financial highlights
As for 3QFY16, Amtech’s customer order were US$30.0 million, of which US$13.2 million were solar, down from US$45 million (US$28 million solar) in 2QFY16 and US$30.2 million (US$15.2 million solar) in 3QFY15.
Net revenue was US$33.3 million compare to US$22.5million in the preceding quarter and US$40 million in 3QFY15. Solar segment’s net revenue in 3QFY16 was US$19 million. Amtech attributed the quarterly growth to increased shipments from solar and semiconductor segments, and blamed the annual decline on lower shipments and a higher deferral of revenue also from the solar segment. Solar demand can vary significantly from quarter-to-quarter, explained Amtech in its press release.
Amtech met gross margin of 29% in the quarter, up from 27% in the preceding quarter and 25% in 3QFY15. The higher gross margin compared to the previous quarter is primarily the result of higher volumes at our solar and semiconductor segments.
The net loss for 3QFY16 was US$1.2 million, or US$0.09 per share, compared to a net loss of US$1.5 million or US$0.11 per share in the preceding quarter and a net loss of US$1.6 million, or US$0.12 per share for 3QFY15.
“During the quarter we made significant progress in expanding our served available market with the successful introduction of our next generation PECVD and ALD systems,” stated Fokko Pentinga, CEO of Amtech. “We have compelling technology solutions for both current and next generation solar cell designs, including PERC and N-type. We are recognized as a market leader for our technology solutions and look to capitalize on the opportunities within this expanding global market for solar while driving profitable growth over the long term.”
New order
Tempress Systems, subsidiary of Amtech, has received new orders of approximately 400MW fort its next generation PECVD equipment. The order is from a tier-one solar cell manufacturer in Asia and Tempress expects to ship the PECVD systems over the next six to nine months after the order booking in July.
Amtech’s backlog of PECVD systems now reaches approximately 1.4GW of cell capacity, including an order from a tier-one cell manufacturer for Amtech's high efficiency PERC package solution that combines Tempress' PECVD and SoLayTec's ALD systems.