Axcelis moves into black in tough market
Silicon Strategies
(10/23/02 06:05 p.m. EST)
BEVERLY, Mass.--Chip-equipment supplier Axcelis Technologies Inc. today reported worldwide sales of $136.6 million in the third quarter of 2002, down 2% sequentially but up 25% from the third quarter of 2001.
The results included sales from the joint venture in Japan. Net sales, excluding the joint venture, were $93.1 million, up 5% sequentially and up 51% from the third quarter of 2001.
Net income for the third quarter 2002 was $191,000, compared to a net loss of $16.2 million in the third quarter of 2001. The company reported breakeven profitability on an EPS basis compared with a loss per share of $0.17 in the third quarter of 2001.
Ion implantation revenue accounted for 85% of total revenue as demand increased for high current low energy systems. Year to date, ion implantation systems business accounted for 77% of total revenue while Axcelis' complementary products accounted for 23% of total revenue.
Mary Puma, president and CEO of Axcelis, painted a mixed picture for the company. "Our performance for the third quarter was driven by increasing demand for our new multi-wafer ultra high-current ion implantation systems,” Puma said in a statement.
"Even though some customers are delaying their equipment purchases until early next year, our customers are still buying equipment for advanced 0.13 micron production capability,” Puma said. “In fact, some customers have requested accelerated delivery on tools indicating that their ramp plans are critical.”
Worldwide revenue, including the joint venture in Japan, is expected to be in the range of $95-$105 million and net revenue excluding the venture is expected to be in the range of $60-70 million. Gross margins should be in the 30% range and the company expects its loss per share to range from $0.08 to $0.10. Cash and cash equivalents are expected to remain flat in the fourth quarter. |
