EXHIBIT 99.1
Amtech Reports Preliminary Revenue,
Orders and Backlog for Fiscal Third Quarter; Record Q3
Revenue of $42 Million
and Record Q3 bookings of $44 Million
Total orders surpass $135 million in
first nine months ended June 30, 2010
TEMPE, Arizona
- - July 14, 2010 - Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of
production and automation systems and related supplies for the manufacture of
solar cells, semiconductors, and silicon wafers, today reported preliminary
results for its fiscal 2010 third quarter ended June 30, 2010, including record
revenue of approximately $42 million ($37 million solar), a 161% increase over
the preceding quarter and 227% increase over the third quarter of fiscal 2009,
and record fiscal third quarter bookings of approximately $44 million ($37
million solar).
For the first
nine months of fiscal 2010 ended June 30, 2010, Amtech has recorded over $135
million in total orders, exceeding all previous full fiscal year bookings.
Amtech's total order backlog at June 30, 2010, was approximately $80 million.
The Company expects to report final fiscal 2010 third quarter results in early
August.
J.S. Whang,
Chief Executive Officer of Amtech, commented, "Our strong preliminary revenue
for the third quarter further demonstrates our market leadership in solar
diffusion and our operational capability to manage and service this high growth
market. With our continued success in expanding our solar market share with an
increasing number of top tier solar customers, we recorded a record number of
orders for a third quarter. As planned, we have ramped up operations to support
our record-breaking order momentum and profitably manage our rapid growth."
The fiscal
2010 third quarter financial information included in this release is preliminary
and subject to change based on the Company's quarterly close procedures.
About Amtech
Systems, Inc.
Amtech Systems, Inc. manufactures capital equipment, including silicon
wafer handling automation, thermal, plasma and etch processing equipment and
related consumables used in fabricating solar cells and semiconductor devices.
Semiconductors, or semiconductor chips, are fabricated on silicon wafer
substrates, sliced from ingots, and are part of the circuitry, or electronic
components, of many products including solar cells, computers,
telecommunications devices, automotive products, consumer goods, and industrial
automation and control systems. The Company's wafer handling and processing
equipment and consumable products currently address the diffusion, oxidation,
deposition, PECVD, and PSG removal steps used in the fabrication of solar cells,
semiconductors, MEMS and the polishing of newly sliced silicon wafers.
Forward-Looking Statements
Statements contained in this press
release that are not historical facts may be forward looking statements within
the meaning of the Private Litigation Reform Act. Such statements may use words
such as "proposed," "anticipate," "believe," "estimate," "expect," "intend,"
"predict," "project" and similar expressions as they relate to Amtech Systems,
Inc. or our management. When we make forward-looking statements, we are basing
them on our management's beliefs and assumptions, using information currently
available to us. Although we believe that the expectations reflected in the
forward looking statements are reasonable, these forward-looking statements are
subject to risks, uncertainties and assumptions including the risks discussed in
our filings with the Securities and Exchange Commission. If one or more of these
risks materialize, or if our underlying assumptions prove to be incorrect,
actual results may vary materially from what we projected. Any forward looking
statements contained in this press release reflect our current views with
respect to future events and are subject to these and other risks, uncertainties
and assumptions relating to our operations, results of operations, growth
strategy and liquidity. We have no intention, and disclaim any obligation, to
update or revise any forward-looking statements, whether as a result of new
information, future results or otherwise.
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Contacts:
Amtech
Systems, Inc
Bradley C. Anderson
Chief Financial Officer
(480) 967-5146
MKR Group,
Inc.
Investor Relations
Todd Kehrli or Jim Byers
(323) 468-2300