Monday, May 11, 2009
Phoenix Business Journal
Amtech Systems Inc. reported a loss of just over $2 million, 22 cents a share, for its second fiscal quarter as the company buffered against the recession and posted a large charge related to a semiconductor-dependent subsidiary.
Tempe-based Amtech (Nasdaq:ASYS) reported the loss Monday. It compares with a profit of $161,000 for the same quarter last year.
Part of the loss was due to a $1.7 million charge related to subsidiary Bruce Technologies.
Amtech, which produces equipment for the semiconductor and solar industries, saw revenue slide to $10.9 million for the quarter, down from $17.6 million for the same period in 2008. The company moved $3 million in shipments into future quarters, and will launch new solar etching equipment in the third quarter, which officials hope will boost its offerings in that segment.
“We remain focused on executing our multi-product solar growth plan, including the introduction of our new solar etch product, which we expect to launch within the current fiscal third quarter,” said J.S. Whang, the company’s president and CEO.
While the company has seen short-term slowdowns in both semiconductor and solar segments, its outlook for the third quarter and beyond projects a strong return after the recession, particularly in the solar arena.
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