Amtech Q4 rev $27.7M, orders $18.2M, 0.7 book-to-bill; covenant breach, impairment expected

AMTECH SYSTEMS INC

Net revenue $27.7M in Q4 fiscal 2023, down 10% sequentially and 14% YoY.
Customer orders $18.2M; full-year orders $103.9M with 0.9 book-to-bill.
Anticipates impairment charge in Material and Substrate segment; finalizing audit procedures.
Loan covenant non-compliance; entered Forbearance Agreement with UMB Bank through Jan 17, 2025.
Exiting legacy PR Hoffman equipment business; reducing workforce to cut $4M in annual costs.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

AMTECH SYSTEMS INC reported the first fiscal quarter ending December 31, 2023 results: revenue revenues in the range of $21 - $24 million. Guidance initiated.

Period: the first fiscal quarter ending December 31, 2023
Revenue: revenues in the range of $21 - $24 million
Guidance: initiated
Result: guidance update

Exact text from the filing

For the first fiscal quarter ending December 31, 2023, we expect revenues in the range of $21 - $24 million with EBITDA nominally negative.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

AMTECH SYSTEMS INC reported Fourth Quarter Fiscal 2023 results: revenue Net revenue of $27.7 million.

Period: Fourth Quarter Fiscal 2023
Revenue: Net revenue of $27.7 million
Result: preliminary results

Exact text from the filing

Fourth Quarter Fiscal 2023 Business Update • Net revenue of $27.7 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

AMTECH SYSTEMS INC reported Fiscal 2023 results: revenue Net revenue of $113.3 million.

Period: Fiscal 2023
Revenue: Net revenue of $113.3 million
Result: preliminary results

Exact text from the filing

Fiscal 2023 Business Update • Net revenue of $113.3 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AMTECH SYSTEMS INC reported preliminary financial results for the fourth quarter and full year fiscal 2023.

Period: the fourth quarter and full year fiscal 2023
Result: preliminary results

Exact text from the filing

On December 13, 2023, Amtech Systems, Inc. (the "Registrant" or the "Company") announced by press release a summary of its revenue and business status as of September 30, 2023.

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AMTECH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000950170-23-070049

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