Axcelis Technologies, Inc. (ACLS) Message Board

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Technology Stocks : Axcelis Technologies, Inc. (ACLS)

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From: Lance Bredvold	1/24/2006 11:38:10 AM
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Hi Bob; As expected the conference call did leave me optimistic--especially because the price of ACLS is as low as it is and improving sales will help. I heard all but the first half hour of the presentation today and was not disturbed by the regular insistence that ACLS is very conservative in recognizing revenue. They made a fairly detailed explanation of how long it takes to reach revenue recognition (6-12 months) and due to various performance requirements built into the sale agreement. The prediction is that over 10 MD's will be recognized in 06 at $3.0 to $3.5mm each and even though over 10 HD's will ship, few if any will achieve revenue recognition. Nor will the margins be very high on those first machines which were predicted to sell for $3.25-$3.75mm. The idea is that Optima is still primarily an incremental revenue source to the basic businesses and won't impact the bottom line much until 07--well, the MD's should have some effect as they are being recognized now. Late in the meeting our CFO predicted that there will be no cash flow problems in repaying the $125mm debt in early 07 and I got the idea without needing refinancing, so the company feels healthy. Market share predicted to be growing in Optima tools and mentioned that they picked up AMD as a new customer for MD tools last year after no sales to that company for a long time. SEN seems to be a little ahead in getter their model HD (was the designation SHE?) out and approved vs. ACLS itself. I missed out on all the early discussion of molecular implants and boron vs. hydrogen, so those questions later on meant very little to me. I hope to listen to the whole presentation again but I may need to be home next week before getting to that. Thanks for keeping the board active, Bob. Best, Lance

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