Losing a substantial portion of the company value every quarter. This company should be sold for whatever they can get from anyone. Maybe, just maybe they could get near a $1 to $1.50 from the proper white knight. Otherwise...they will just keep pouring their assets down the drain, imo. Over half of the company's assets are still locked in inventory. Sheesh. Poster child for how to mismanage a SEC company. They were offered $6/share early last year. Talk about idiocy in management when they turned that down!!
Axcelis Announces Financial Results for Second Quarter 2009
Press Release
Source: Axcelis Technologies, Inc.
On Friday August 7, 2009, 8:30 am EDT
BEVERLY, Mass., Aug. 7, 2009 (GLOBE NEWSWIRE) -- Axcelis Technologies, Inc. (Nasdaq:ACLS - News) today announced financial results for the second quarter ended June 30, 2009. The Company reported second quarter revenue of $33.6 million, compared to $25.7 million for the first quarter of 2009. Net loss for the second quarter was $22.4 million, or $0.22 per share of which $4.1 million ($.04 per share) was attributable to restructuring charges. This compares to a net loss for the first quarter of 2009 of $29.2 million, or $0.28 per share. In the corresponding quarter for the previous year, the Company reported revenues of $76.9 million, and net loss of $19.4 million, or $0.19 per share of which $3.0 million was attributable to restructuring charges.
Second Quarter Detail
Shipments
Shipments, including aftermarket business, before provision for deferred revenue for the second quarter totaled $28.0 million. Geographically, Axcelis' systems shipments were to: North America, 21%, Europe 10%, and Asia, 69%. The ion implantation business accounted for 69% of total shipments in the second quarter.
Orders and Backlog
Orders (new systems bookings and aftermarket) received for the second quarter totaled $27.0 million. New systems bookings, excluding aftermarket, amounted to $3.1 million. Backlog plus deferred systems revenue at quarter end was $10.1 million. Backlog consists of systems orders (aftermarket orders are excluded) that are generally scheduled to ship within six months.
Balance Sheet
Cash and cash equivalents, including restricted cash, were $56.7 million at June 30, 2009. The Company ended the quarter with working capital of $187.7 million. |
