Amtech cuts fiscal Q3 loss as solar shipments surge

US firm Amtech Systems Inc (NASDAQ:ASYS) reduced its net loss to USD 1.6 million (EUR 1.5m) in its third fiscal quarter, ended June 30, following a jump in solar equipment shipments.

The result compares to losses of USD 2.3 million and USD 5.3 million in January-March 2015 and in April-June 2014, respectively.

The company supplies production equipment for the solar, semiconductor, and LED markets globally. It said on Thursday the reporting period was its best quarter in terms of solar equipment shipments in the last three years. Shipments included a mix of standard diffusion, HD diffusion, and plasma-enhanced chemical vapor deposition (PECVD) solar equipment.

Third-quarter revenue amounted to USD 40 million, marking a 335% year-on-year rise due to the higher solar sales and other factors. Amtech had an order backlog of USD 46.9 million at the end of June, including USD 32.4 million in solar orders and deferred revenue.

“While there is a current lull in equipment orders, the fundamentals of the solar market continue to improve. Global demand for solar increases each year and, while capital spending is highly selective today, investments are being made in next generation, higher efficiency cell and module solutions,” commented CEO Fokko Pentinga.

In its fourth fiscal quarter Amtech expects revenue of USD 26 million-28 million.

(USD 1 = EUR 0.915)

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