Amtech reports Q3 net loss of $1.0M; appoints Bob Daigle as CEO replacing Michael Whang

AMTECH SYSTEMS INC

GAAP net loss of $1.0M ($0.07 loss per share) on revenue of $30.7M, up 54% YoY.
Non-GAAP operating income of $0.4M vs GAAP operating loss of $1.1M.
Customer orders of $26.2M; backlog of $61.3M; book-to-bill ratio 0.9:1.
Bob Daigle appointed President and CEO effective Aug 8, 2023, succeeding Michael Whang.
Michael Whang steps down as CEO and will serve as advisor for six months through Feb 8, 2024.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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

Departed

Michael Whang

President and Chief Executive Officer

ASYS · AMTECH SYSTEMS INC

Effective: 2023-08-08
Successor: Robert C. Daigle
Filed: August 9, 2023, 7:59 PM ET

Mr. Whang has informed the Company of his decision to step down as the Company’s President and Chief Executive Officer to pursue other opportunities effective August 8, 2023.

Appointed

Robert C. Daigle

President and Chief Executive Officer

ASYS · AMTECH SYSTEMS INC

Effective: 2023-08-08
Filed: August 9, 2023, 7:59 PM ET

approved the appointment of Robert C. Daigle to succeed Michael Whang as President and Chief Executive Officer of the Company effective August 8, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMTECH SYSTEMS INC reported the third quarter ended June 30, 2023 results: revenue $30.7 million, net income $1.0 million, EPS $0.07 per diluted share.

Period: the third quarter ended June 30, 2023
Revenue: $30.7 million
Net income: $1.0 million
EPS: $0.07 per diluted share
Result: reported results

Exact text from the filing

(CleanTech) applications, today reported results for its third quarter ended June 30, 2023. Third Quarter Fiscal 2023 Financial and Operational Highlights: • Net revenue of $30.7 million • GAAP operating loss of $1.1 million • Non-GAAP operating income of $0.4 million (1) • GAAP net loss of $1.0 million • Non-GAAP net income of $0.3 million (1) • GAAP net loss

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Whang departed as President and Chief Executive Officer at AMTECH SYSTEMS INC.

Action: stepped down
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Whang has informed the Company of his decision to step down as the Company’s President and Chief Executive Officer to pursue other opportunities effective August 8, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert C. Daigle was appointed as President and Chief Executive Officer at AMTECH SYSTEMS INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

approved the appointment of Robert C. Daigle to succeed Michael Whang as President and Chief Executive Officer of the Company effective August 8, 2023.

View on SEC.gov

13 earnings releases filed in the last 30 days. Browse all earnings releases →

AMTECH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000950170-23-040579

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