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Axcelis Technologies, Inc. announced financial results for the third quarter ended September 30, 2024. The Company reported third quarter revenue of $256.6 million, compared to $256.5 million for the second quarter of 2024. Gross margin for the quarter was 42.9%, compared to 43.8% in the second quarter. Operating profit for the quarter was $46.9 million, compared to $52.8 million for the second quarter. Net income for the quarter was $48.6 million, or $1.49 per diluted share, compared to $50.9 million, or $1.55 per diluted share in the second quarter.
President and CEO Russell Low commented, “Axcelis executed well in the third quarter with results relatively in-line with our expectations. While we anticipate a near term digestion of mature node capacity through the first half of 2025, customer engagement is strong and our long-term growth opportunity remains squarely intact highlighted by attractive secular growth in silicon carbide, a cyclical recovery in our memory and general mature markets, market share gains in advanced logic and regional penetration of the Japan market.”
Executive Vice President and Chief Financial Officer Jamie Coogan said, “We are pleased with the financial performance delivered by our team thus far in 2024. Our cash generation remains strong, we are engaging with customers across a number of key growth opportunities, and we are investing in our product roadmaps while maintaining discipline in our overall cost structure. All of this, when coupled with our strong balance sheet, put us in position to capture the growth opportunities that lie ahead and drive long-term value creation for shareholders.”
For the fourth quarter ending December 31, 2024, Axcelis expects revenues of approximately $245 million, and earnings per diluted share of approximately $1.25.
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Axcelis Technologies, Inc. will be participating in the International Conference on Silicon Carbide and Related Materials (ICSCRM 2024) taking place September 29 – October 4, 2024, at the Raleigh Convention Center in North Carolina. At the event, Axcelis’ management will be available for one-on-one meetings.
President and CEO of Axcelis, Dr. Russell Low: “We’re excited to participate in ICSCRM 2024, one of the most important technology forums in the power market. Axcelis’ Purion™ Power Series is the technology leader in this market, due to its enabling and highly differentiated features and process control. Ion implant is one of the most critical steps in the manufacturing of Silicon Carbide devices, a market which is estimated by Yole to grow at a 25% CAGR from 2023 – 2029.”
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Axcelis Technologies, Inc. will be a top-level Platinum Sponsor at the International Conference on Ion Implantation Technology 2024 (IIT 2024) taking place September 23-26 at the Toyama International Conference Center in Japan.
IIT 2024 is the 24th Conference in the biennial series focused on the major challenges in current and emerging technologies related to implant/doping and annealing processes, device applications, equipment, metrology and modeling.
At the event, Axcelis will host a company exhibit and the company’s technologists and collaborators will present on nine topics:
- Performance of an Aluminum Sputtering Source for High Current Doping in Power Devices
- Energetic and Surface Metals Characterization of Purion XEmax With and Without Boost™ Technology Using Vapor Phase Decomposition-Inductively Coupled Plasma Mass Spectrometry
- Radiation Characterization and Mitigation of High Energy H+ Beams
- Wear-Resistant Surface Coatings for Long Electrostatic Chuck Life and Stable Performance
- Self-contained Predictive System Diagnostic Sensors
- Comparison of Arsenic and Antimony Dopant Distribution Profiles of Very High Energy Implantations
- New Challenges and Opportunities in Wide Bandgap Materials with Ion Implantation and Annealing Co-Optimization
- Dual Cathode Ion Source for Axcelis’ High Energy Implanters
- Low Metals Ion Source
President and CEO of Axcelis Technologies Russell Low said, “We’re excited to be a Platinum Sponsor of IIT 2024, one of the most important technology forums in the ion implantation industry. We’re especially pleased to be participating at the event in Japan this year, which is a very important market for Axcelis. Axcelis recently opened several new Service Centers in Japan to support our expanding customer base. We remain focused on growing our global market share by providing customers the most innovative, enabling implant technology and support solutions to ensure their success.”
For more information on the event, or to register, visit the conference website at https://smartconf.jp/content/iit2024.
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Axcelis Technologies, Inc. announced financial results for the second quarter ended June 30, 2024. The Company reported second quarter revenue of $256.5 million, compared to $252.4 million for the first quarter of 2024. Gross margin for the quarter was 43.8%, compared to 46.0% in the first quarter. Operating profit for the quarter was $52.8 million, compared to $56.5 million for the first quarter. Net income for the quarter was $50.9 million, or $1.55 per diluted share, compared to $51.6 million, or $1.57 per diluted share in the first quarter.
President and CEO Russell Low commented, “Axcelis delivered strong financial results in the second quarter, exceeding our expectations. This was driven by better-than-expected conversion of evaluation units into revenue as well as continued robust demand in our Power segment – particularly silicon carbide, which continues to be a key growth driver for Axcelis. We are well positioned to execute on our long-term strategy. As we look to the second half of the year, we expect revenue to be slightly better than the first half with momentum expected to build into 2025.”
Executive Vice President and Chief Financial Officer Jamie Coogan said, “We are very pleased with our second quarter results. Revenue, operating margin and earnings per share exceeded our guidance for the period, and we delivered another quarter of healthy cash flow. Our product positioning and our disciplined cost structure provide a solid foundation on which to grow revenue and profitability as our markets recover.”
Business Outlook
For the third quarter ending September 30, 2024, Axcelis expects revenues of approximately $255 million, and earnings per diluted share of approximately $1.43.Original – Axcelis Technologies
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Axcelis Technologies, Inc. announced the establishment of new service offices in Chitose, Hokkaido and Kumamoto, Kyushu to support the Company’s expanding customer base in Japan. Both service office locations opened in June 2024.
President and CEO of Axcelis Technologies Russell Low, said, “We are proud of our growing installed base in Japan and remain focused on expanding our market share by providing customers the most innovative, enabling implant technology and support solutions to ensure their success. Our family of application specific systems address high current, medium current, medium energy and high energy implant requirements for all existing and emerging IC applications.”
Charles Pieczulewski, Axcelis Japan Country Manager, commented, “We are pleased to announce the opening of two new Japan Service centers. The proximity of both of the new offices to customers will enable localized support resources for our Purion ion implant equipment running in production. Axcelis has established business relationships with both Silicon (Si) and Silicon Carbide (SiC) semiconductor power device customers in Japan and is now positioned to support investments by Japanese customers in advanced logic production capacity.”
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Axcelis Technologies, Inc. announced financial results for the first quarter ended March 31, 2024.
The Company reported first quarter revenue of $252.4 million, compared to $310.3 million for the fourth quarter of 2023. Gross margin for the quarter was 46%, compared to 44.4% in the fourth quarter. Operating profit for the quarter was $56.5 million, compared to $79.1 million for the fourth quarter. Net income for the quarter was $51.6 million, or $1.57 per diluted share, compared to $71.1 million, or $2.15 per diluted share in the fourth quarter.
President and CEO Russell Low commented, “Axcelis is off to a good start in 2024. The Company delivered strong financial results in the first quarter, as a result of continued execution by the Axcelis team combined with strength in the implant intensive power device segment and robust shipments to China. The power device segment, particularly silicon carbide, continues to drive our business. We continue to win business from new customers globally as well as expand our product footprint with existing customers, with our highly differentiated and enabling Purion™ Power Series product line.”
Executive Vice President and Chief Financial Officer Jamie Coogan said, “We are pleased with our first quarter results and look forward to a solid 2024. Our revenue, gross margin and earnings per share finished above our guidance for the period, and we ended the quarter with robust cash flow and a strong balance sheet. We are monitoring the recovery in our memory and general mature markets and continue to expect revenue levels in the second half to increase over our anticipated revenues in the first half of the year.”
Business Outlook
For the second quarter ending June 30, 2024, Axcelis expects revenues of approximately $245 million. Gross margin in the second quarter is expected to be approximately 43.5%, as we anticipate closing several evaluations in the period, which typically carry lower gross margins. For the full year we expect gross margins to improve year over year. Second quarter operating profit is forecast to be approximately $47 million with earnings per diluted share of around $1.30.
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Axcelis Technologies, Inc. has received the Texas Instruments 2023 Supplier Excellence Award. The annual award honors companies whose dedication and commitment in supplying products and services meet TI’s high standards for excellence. Recipients are an elite group of suppliers chosen for their exemplary performance in the areas of Cost, Environmental & Social Responsibility, Technology, Responsiveness, Assurance of Supply, and Quality.
“It is a tremendous honor for Axcelis to once again receive the Supplier Excellence Award from Texas Instruments,” said Russell Low, Axcelis’ President and Chief Executive Officer. “This is the fifth time Axcelis has received this prestigious award over the last 11 years and is a testament to our dedication to customer collaboration and success, and our commitment to a strong partnership with Texas Instruments. We look forward to continuing to serve the installed base with value added upgrades and services and participating in Texas Instruments’ expansion plans in the near future.”
Rob Simpson, Vice President of Worldwide Procurement and Logistics at Texas Instruments, commented, “Axcelis’ exceptional commitment to innovation and collaboration has set them apart and helped us achieve our priorities to serve our customers.”
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Axcelis Technologies, Inc. arranged multiple shipments of the Purion Power Series™ ion implanter systems to leading silicon carbide (SiC) power device chipmakers worldwide. The shipments, all shipped in the first quarter, included the Purion H200™ SiC high current, the Purion XE™ SiC high energy and the Purion M™ SiC medium current implanters.
The 150mm and 200mm systems will be used in high volume production of power devices supporting automotive, industrial, energy, and other power intensive applications.
President and CEO Russell Low commented, “We continue to win new customers and expand our footprint at existing customers globally. The Purion Power Series is the market leader due to its highly differentiated features and process control capabilities that are enabling for power device applications. Axcelis is the only ion implant company that can deliver complete recipe coverage for all power device applications.”
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Axcelis Technologies, Inc. announced a shipment of the Company’s Purion EXE™ SiC high energy implanter as well as a successful Purion H200™ SiC medium energy implanter evaluation closure at leading power device chipmakers located in Japan. The systems will be used for 150mm and 200mm production of silicon carbide power devices supporting automotive, industrial, energy, and other power intensive applications.
Greg Redinbo, Executive Vice President, Marketing and Applications remarked, “The successful evaluation closure of the 200mm Purion H200 SiC system enables it to join an existing 200mm Purion EXE SiC in production at a leading power device customer in Japan.” Dr. Redinbo continued, “The shipment of an additional Purion EXE SiC to a new 150mm customer in Japan highlights growing customer requirements for even higher energy ion implant recipes on advanced SiC power devices, which the Purion Power Series provides.”
President and CEO, Russell Low commented, “We look forward to supporting our growing installed base in Japan and remain focused on expanding our market share by providing customers with the most innovative implant technology and support solutions to ensure their success. The Purion Power Series is the market leader due to its highly differentiated features and process control capabilities that are enabling for power device applications. Axcelis is the only ion implant company that can deliver complete recipe coverage for all power device applications.”
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LATEST NEWS / SiC / WBGAxcelis Technologies to Deliver Purion M™ SiC Implanters to Several Power Device Chipmakers in China
March 20, 2024
2 Min ReadAxcelis Technologies, Inc. announced multiple shipments of the Company’s Purion M™ SiC medium current implanter to several leading power device chipmakers located in China. The systems, which shipped in the first quarter, will be used for 150mm production of silicon carbide power devices supporting automotive, industrial, energy, and other power intensive applications.
President and CEO, Russell Low commented, “We look forward to supporting our customers as they expand their manufacturing capabilities in this growing silicon carbide power device segment. To meet market demand, chipmakers need to maximize their yield and add capacity, while meeting a range of technical challenges unique to power devices. The Purion M SiC Power Series platform’s common and flexible architecture, coupled with its uniquely differentiated high temperature capability, makes it ideally suited for this expanding application.”
Executive Vice President of Marketing and Applications, Greg Redinbo added “The Purion M SiC tool provides customers an implanter with a broad dose and energy range perfect for the early phases of a fab production ramp. The Purion M SiC sets the stage for the future introduction of the Purion H200™ SiC and Purion XE™ SiC. Use of the full Purion Power Series family enables higher fab productivity, lower cost of ownership and the ability to manufacture more advanced silicon carbide power devices.”
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