TEMPE, AZ – Amtech Systems reported fiscal second quarter net revenue of $14.5 million, down 30% year-over-year and 29.6% sequentially.

Semiconductor and related equipment revenue decreased primarily due to Covid-19 impacts within China, where Amtech’s Shanghai facility was affected by the extended Chinese New Year and the phased return to work process and associated production ramp-up. Silicon carbide/LED revenue decreased compared to the same prior-year period primarily due to delayed shipments at the end of the quarter resulting from Covid-19 statewide shutdown orders in Pennsylvania.

Amtech is the parent company of BTU.

For the quarter ended Mar. 31, operating loss was $1 million, compared to operating income of $1.2 million in the fiscal second quarter of 2019.

Customer orders during the quarter amounted to $20.6 million.

“As Covid-19 developed into a global pandemic throughout the second fiscal quarter, we faced disruptions both to our manufacturing facilities and supply chain,” said CEO Michael Whang. “However, due to the extraordinary efforts of our employees and partners, we were able to continue to serve our customers, resulting in revenue for the quarter that was above the high end of our guidance.

"Despite ongoing uncertainties related to near-term demand, we are fortunate to have entered this period with both a resilient business model and strong balance sheet, which will allow us to navigate the challenges likely to rise in these uncertain times, while supporting the execution of our power semi growth strategy."

For the six months ended Mar. 31, net revenue was $35.2 million, down 20% year-over-year. Operating income was $700,000, a decrease of 63.2%.

For the fiscal third quarter ending June 30, revenues are expected to be in the range of $13 million and $16 million.

The firm’s outlook reflects the anticipated ongoing impacts from the Covid-19 pandemic. Given how fluid the situation is both for Amtech’s business, as well as for that of its customers and supply chain, the company reminds investors actual results may differ materially in the weeks and months ahead. Additionally, the semiconductor equipment industries can be cyclical and inherently impacted by changes in market demand. Operating results can be significantly impacted, positively or negatively, by the timing of orders, system shipments, and the financial results of semiconductor manufacturers.

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