PV manufacturing equipment specialist, Amtech Systems has reported its highest level of tool order backlog in three years as part of reporting its fiscal second quarter 2015 financial results.
Amtech said its order backlog stood at US$56.0 million, which included its solar segment backlog at US$41.4 million at the end of the financial second quarter, compared to US$37.5 million at the end of 2014.
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Customer orders in the second quarter of fiscal 2015 were US$30.9 million, which included US$15.8 million in its solar segment, compared to US$21.1 million in the preceding quarter and US$13.6 million in its solar segment in the second quarter of fiscal 2014.
Net revenue for the second quarter of fiscal 2015 was US$24.3 million compared to US$12.4 million in the preceding quarter. The company noted that the increase in revenue was due primarily to higher solar segment revenue and the inclusion of revenue from the acquisition of BTU, since January 30, 2015.
Gross margin in the second quarter of fiscal 2015 was 28%, compared to 23% in the second quarter of fiscal 2014. The net loss for the second quarter was US$2.3 million, compared to a net loss of US$5.2 million in the previous quarter.
Fokko Pentinga, Chief Executive Officer of Amtech, commented, “Bookings continued at a healthy rate in the quarter and our backlog is at the highest level in the last three years. The mix of product in our backlog, including PECVD, ion implant, and atomic layer deposition systems (ALD), is a direct result of our decision several years ago to invest in expanding the size of our served available markets through product development and acquisition. Global solar installations continue to grow and the balance between supply and demand continues to improve. With strong growth of the market in 2015 and beyond, we see an increase in activity among top tier solar cell manufacturers to expand production both inside and outside of China and we are pleased to fully participate in the industry's selective capacity expansion and technology adaptation.”
Amtech said that it expected fiscal third quarter revenue to be in the range of US$33 to US$35 million, a clear increase over the past quarter. However, the company noted gross margins would be negatively influenced by revenue deferrals due to higher shipment levels, with operating margin slightly negative.
