TEMPE, AZ – Amtech Systems reported fiscal third quarter net revenue of $15.2 million, down 28% year-over-year and 5% sequentially.

Loss from continuing operations, net of tax, for the fiscal third quarter was $100,000. This compares to income from continuing operations of $900,000 in the fiscal third quarter of 2019 and a loss of $500,000 in the preceding quarter.

For the quarter ended June 30, operating results were breakeven, primarily from lower SG&A in the quarter, compared to an operating loss of $1 million in the fiscal second quarter of fiscal 2020 and $1.4 million of operating income in the prior year period.

Customer orders during the quarter amounted to $10.8 million.

"While the global pandemic continues to create operational challenges, thanks to the diligent efforts of our employees and supply chain partners, in the third quarter we saw minimal disruption in our ability to service customers,” said CEO Michael Whang. “In the fourth quarter, we began to see a rise in customer engagement with our recently announced 300mm diffusion furnace order. We believe this is an early indicator of the strength in long-term demand drivers for power semiconductors, including silicon carbide, led by growing demand from electric vehicles and automotive sensors, renewable energy, mobile devices, and wireless communications applications."

Semiconductor and SiC/LED revenue in the fiscal third quarter increased sequentially due primarily to the company’s Shanghai facility returning to normal operations after the extended Chinese New Year and increased consumable and machine shipments in the SiC/LED segment. Semiconductor and SiC/LED revenue decreased compared to the fiscal third quarter of 2019 primarily due to global Covid-19 impacts on customers.

Relocation and R&D expenses shifted into the fiscal fourth quarter due to shutdowns and delays resulting from the Covid-19 pandemic.

For the ninth month period ended June 30, net revenue was $50.4 million, down 22.3% year-over-year.

For the fiscal fourth quarter ending Sept. 30, revenues are expected in the range of $13 million to $15 million.

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