Amtech scores record revenue and backlog while continuing to see strong order momentum

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

Amtech Systems has posted its fiscal 2011 first quarter outcome, ending December 31, 2010, showing record making revenue and backlog results. Total orders during the first quarter were posted at US$137 million, US$127 million coming from solar operations. The order numbers illustrate a 176% increase from the preceding quarter, which finished with US$49.6 million in total orders.

Amtech’s revenue for the first quarter hit a record US$53.7 million, up 18% sequentially from the US$45.4 million that was recorded in 2010’s fourth quarter. The company credits more system shipments to customers in the solar industry and the partial offset from the added amount of revenue deferred for the increase. Solar revenue also ended the quarter on a high note with US$45.9 million, a 19% sequential increase from the US$38.6 million that the solar division finished with in 2010’s fourth quarter.

At the close of the fiscal 2011 first quarter, Amtech held an order backlog of US$173 million, a definite boost from the September 30, 2010 reported backlog of US$94 million. The backlogs for the end of the first quarter include US$162 million in solar orders, up over the US$85 million in September 2010. Amtech notes that the backlog figures include deferred revenue and customer orders that will ship during the next twelve months.

Finally, Amtech finished the first quarter with an operating income of US$8.4 million compared to operating income of US$8.9 million sequentially. The company posted net income for the first quarter of fiscal 2011 at US$5.0 million, or US$0.52 per diluted share, which dropped from the preceding quarter that had recorded net income of US$5.4 million or US$0.58 per diluted share. 

Looking to the future, Amtech is anticipating the full 2011 fiscal year to have revenues well over US$230 million, which would be a 92% increase from fiscal 2010. Fiscal 2011 second quarter revenues are expected to be between US$55 to US$60 million.

J.S. Whang, CEO of Amtech, commented: “We are pleased to report another very strong quarter including record revenue and bookings. The strong order momentum we continue to generate for our solar diffusion systems reflects our continued success in expanding with existing customers and attracting new top-tier customers. We continue to see a healthy business pipeline, ending the quarter with record orders and backlog.

“Our recently announced agreement to acquire a China-based ion implant technology company demonstrates our commitment to technology leadership in meeting the increasing demand for higher cell efficiency. As a result of the acquisition, we will immediately establish a technology beachhead in a strategically key region of the world, will increase our technology expertise, and lay the foundation for future opportunities for our solar business. We believe this acquisition will complement and protect our core solar diffusion expertise and leadership. We remain on track to continue to produce and ship at a high volume in the March quarter, and we remain focused on successful execution of our solar growth strategy,” concluded Whang.

1 December 2021
Join this virtual conference on 1-2 December 2021 for expert presentations covering PV Module Technology, Supply & Site Optimisation for Utility-Scale. Delegates can access streamed presentations, session recordings and chat/messaging tools to connect with fellow delegates and speakers. Speakers include leading developers, manufacturers, testing and research institutes, including: NREL, Silicon Ranch, Sonnedix, Heliene, Powertis, LONGi Solar, JinkoSolar, PVEL, Risen Energy, Seraphim, STS, Trina Solar, Eternalsun Spire, QEERI, Fraunhofer, Estuary Capital Partners and VDE
2 December 2021
Intersolar is the world’s leading exhibition & conference series for the solar industry. As part of this event series, Intersolar India in Mumbai is India’s most pioneering exhibition and conference for India’s solar industry. It takes place annually and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. Since 2019, Intersolar India is held under the umbrella of The smarter E India – India’s innovation hub for the new energy world.
9 December 2021
The Smart Energy Council is hosting Australia’s second Virtual Smart Energy Conference and Exhibition on Thursday, 9 December 2021. This event will show that the industry powers on despite COVID-19 and we are standing together undeterred in spirit. Bringing our global community together using the latest technology.
13 January 2022
Intersolar North America and Energy Storage North America “Come Together” for the first time in Long Beach, CA—connecting installers, developers, utilities, technology providers, policy makers, and key stakeholders from around the world to advance the clean energy future. With best-in-class conference programming, integrated exhibits and pavilions, and the live Solar Games installer competition, #isnaesna21 will showcase the industry trends, innovative solutions, and emerging talent transforming the solar, energy storage, and e-mobility markets. Register today to redeem our exclusive offer for PV Tech readers—free expo hall or 20% off full conference pass.
1 February 2022
As Solar Finance & Investment enters its ninth year, we sit on the cusp of a new power market with solar at its heart. The 2022 edition of the event will build on our years of expertise and relationships to bring investors and lenders together with top developers. Connect with leaders in the field and use exclusive insights to drive investment and development decisions for the future. Meet new and existing project partners at the largest gathering of European solar investors and lenders.
23 February 2022
Held annually since 2016, the Energy Storage Summit Europe is the place to be for senior stakeholders in the European storage industry. Designed to accelerate deployment of storage, we examine evolving chemistries, business models, project design, revenue stacks and use cases for storage. The 2022 edition will include exclusive content around longer duration solutions, energy strategies for wide-scale deployment of EVs and "EnTech", the event which sits at the intersection of digitisation, decentralisation and decarbonation of the power system. Come to meet TSOs, DSOs, Utilities, Developers, Investors and Lenders and leave with new contacts, partners and a wealth of information.

Read Next

November 26, 2021
Renewables developer and asset owner Grasshopper Energy has signed an agreement that could support the development of up to 1GW of solar in Romania by 2030.
November 26, 2021
Portugal has launched its latest solar auction that is set to allocate 262MW of floating PV to be installed at seven dams across the country.
November 26, 2021
The European Commission (EC) has approved a €2.27 billion (US$2.56 billion) Greek scheme to support 4.2GW of installed renewables capacity after assessing it in the context of EU state aid rules
PV Tech Premium
November 26, 2021
Average market prices for 182mm solar wafers fell by nearly 7% this week, falling to levels not seen in almost two months, however other material and component costs have remained high.
PV Tech Premium
November 26, 2021
Faced with the threat of curtailment as more renewables enter the grid, utility-scale solar developers are heightening their focus on hybrid PV-storage projects to take advantage of demand for flexibility services and falling battery costs.
November 25, 2021
Assurance and risk management provider DNV is acquiring cyber security firm Applied Risk as it looks to build a security practice focused on defending industrial assets against emergent cyber threats.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal