Amtech Q3 revenue $20M, net income $10.2M; CEO Jong Whang transitions to non-executive role, to retire from board Dec 31

AMTECH SYSTEMS INC

2022-Q3 EPS reported $0.93 revenue$73,983,000

Net revenue $20.0M (-14% YoY); net income $10.2M ($0.73 diluted EPS) includes $12.5M pretax gain from sale-leaseback.
Customer orders $30.1M, book-to-bill 1.5:1; backlog $62.7M.
Q4 guidance: revenue $30-32M, operating margin low double-digits; Shanghai facility fully reopened June 1.
CEO Jong S. Whang transitions to non-executive advisor role effective immediately; will retire from board Dec 31, 2022.
Whang receives $100k annual salary, $400k lump sum upon board retirement, plus potential milestone incentives.

item 1.01 item 2.02 item 5.02 item 5.03 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Jong S. Whang

Director

ASYS · AMTECH SYSTEMS INC

Effective: 2022-12-31
Filed: August 15, 2022, 7:59 PM ET

retire from his position as director effective December 31, 2022

Role change

Jong S. Whang

Non-Executive Advisor

ASYS · AMTECH SYSTEMS INC

Effective: 2022-08-09
Filed: August 15, 2022, 7:59 PM ET

Mr. Whang would transition to a non-executive employment role effective immediately

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jong S. Whang retired as Director at AMTECH SYSTEMS INC.

Action: retired
Role: Director

Exact text from the filing

retire from his position as director effective December 31, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jong S. Whang changed role as Non-Executive Advisor at AMTECH SYSTEMS INC.

Action: transitioned
Role: Non-Executive Advisor

Exact text from the filing

Mr. Whang would transition to a non-executive employment role effective immediately

View on SEC.gov

AMTECH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000950170-22-017389

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