In reporting financial results for its fiscal first quarter, 2010 Amtech Systems noted that it had received record order bookings of US$59.4 million, led by US$55.3 million for solar equipment, primarily for its diffusion technology. The company noted that PV manufacturers need to boost cell efficiencies was driving the demand for its technology.
“We are very pleased with the tremendous order momentum in our fiscal first quarter and the announced orders so far in our second quarter,” commented J.S. Whang, President and Chief Executive Officer of Amtech. “The high level of orders we have received fiscal year-to-date reflect the growing number of top-tier solar cell manufacturers that are recognizing the high quality and reliability of our diffusion technology and our capability to support their pursuit of higher efficiency solar cells. These orders include significant follow-on orders from existing customers and six new customer wins. We continue to see good quotation activity and believe the intense race within the solar industry to increase cell efficiency will continue to drive demand for our diffusion technology and related products.”
Amtech reported net revenue of US$15.5 million in the quarter, up 32% sequentially from US$11.7 million. Solar revenue was US$11.9 million, compared to US$8.9 million in the previous quarter.
Total order backlog stood at a record US$74.4 million, up 130% from total backlog of US$32.4 million at September 30, 2009. Total backlog at December 31, 2009 includes US$69.7 million in solar orders, compared to solar backlog of US$27.9 million at September 30, 2009.
Amtech noted that due to demand from solar cell manufacturers it anticipates revenues in fiscal 2010 to be in the range of US$100-$105 million, an 88% to 98% increase from fiscal 2009.
With the large backlog the company expects revenue to mainly occur in the third and fourth quarters of fiscal 2010.