PV manufacturing equipment supplier, Amtech Systems experienced a slide in revenue for its first fiscal quarter.
However, the company has a strong order backlog and guided second fiscal quarter revenue would double. Amtech will recognise around two months of revenue in the next quarter from the completed acquisition of BTU International.
Amtech reported first fiscal quarter revenue of US$12.4 million, which includes US$6.7 million from its solar segment.
The company reported a gross margin of 28%, compared to 31% in the first quarter of fiscal 2014, due to lower shipments of equipment. The net loss for the first quarter of fiscal 2015 was US$5.2 million, compared to a net loss for the first quarter of fiscal 2014 of US$0.8 million.
“While the solar industry continues waiting for the full recovery, we are pleased to fully participate in the industry's selective capacity expansion and technology adaptation,” said Fokko Pentinga, Chief Executive Officer of Amtech.
However, in its earnings call, Pentinga noted that although selective capacity expansions are underway this is being complemented by companies implementing expansions outside of China due to the latest round of US anti-dumping duties.
Management also noted that a number of PV manufacturers were shifting a limited amount of capacity to high-efficiency N-type production, noting customers were adopting the technology and converting some production lines to the technology, though not at the gigawatt-scale yet.