TEMPE, AZ – Amtech Systems reported second quarter net revenue of $19.8 million, up 37% year-over-year and 10% sequentially. The sequential increase was primarily attributed to strong shipments of advanced packaging and SMT equipment.

Operating income was $200,000, compared to an operating loss of $1 million in the prior year quarter and operating income of $1.1 million in the first quarter of 2021.

Customer orders for the second quarter were $32.5 million, and backlog as of Mar. 31 was $26.5 million.

Research and development increased $1 million compared to the second quarter of 2020 and $600,000 sequentially due to strategic R&D projects.

"Our strong momentum continued into the second quarter with revenue coming in at the high end of our expectations,” said Michael Whang, CEO, Amtech. “As we look out to the balance of 2021, we are encouraged to see the strength in demand continue and believe our exposure to several secular tailwinds, including advanced semiconductor packaging, power semiconductors, electric vehicles and 5G communications, creates a significant opportunity to drive increased profitability and shareholder value as demand accelerates."

The company’s outlook reflects the anticipated ongoing logistical impacts and related delays for goods shipped to and from China and expenses incurred relating to a subsidiary’s cybersecurity incident.

For the third quarter ending June 30, revenues are expected to be in the range of $21 million to $23 million.

A portion of Amtech's results are denominated in the Chinese Renminbi. The outlook provided is based on an assumed exchange rate between the US dollar and Renminbi.

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