TEMPE, AZ – Amtech Systems, parent company of BTU, reported fiscal first quarter net revenue was $29.5 million, down 60% year-over-year and up 2.4% sequentially.

Semiconductor and SiC/LED accounted for $21.9 million, while solar brought in $7.5 million.

For the quarter ended Dec. 31, the firm posted a net loss of $2.4 million, including restructuring expenses of $900,000, compared to net income of $6.5 million in the fiscal first quarter of 2018.

Customer orders were $24.7 million, and Amtech’s backlog as of Dec. 31 was $41.3 million.

"We are pleased to announce that our Semi and SiC/LED segments delivered combined operating income of $3.5 million,” said J.S. Whang, executive chairman and CEO. “However, our first quarter financial results show the negative impact from our Solar segment operating loss.

"As we continue our overall review of our business, our focus is on generating positive cash flow and profitable growth.  The semi business, although cyclical, serves markets where there is ongoing strong demand and growth opportunities for our products.  And, in select markets, we have the potential to significantly outperform the broader market's pace of growth. "

RD&E expenses for the quarter were $1.9 million, compared to $2 million in the prior year period.

The company expects revenues for the quarter ending Mar. 31 to be in the range of $27 million to $29 million.