Amtech Systems Q1 FY2024 net rev $24.9M (+16% YoY); GAAP operating loss $8.9M incl $7.6M impairment

AMTECH SYSTEMS INC

2024-Q1 EPS reported -$0.66 revenue$24,920,000

Net revenue $24.9M, up 16% YoY; Q1 GAAP net loss $9.4M ($0.66 share) vs loss $2.7M a year ago.
Non-GAAP operating loss $0.2M (vs loss $3.0M previous qtr); non-GAAP net loss $0.6M ($0.04 share).
Recorded $7.6M in non-cash impairment charges due to book value exceeding market value of stock.
Customer orders $23.1M, book-to-bill 0.9:1; backlog $50.0M; cash $17.0M up from $13.1M.
CEO cites $6M annualized cost savings realized; Q1 revenue and adjusted EBITDA exceeded guidance high end.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMTECH SYSTEMS INC reported first quarter ended December 31, 2023 results: revenue $24.9 million, net income $9.4 million, EPS $0.66.

Period: first quarter ended December 31, 2023
Revenue: $24.9 million
Net income: $9.4 million
EPS: $0.66
Result: reported results

Exact text from the filing

first quarter ended December 31, 2023. First Quarter Fiscal 2024 Financial and Operational Results: • Net revenue of $24.9 million

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Source: SEC EDGAR

accession 0000950170-24-013261

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