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|
Three Months
Ended December 31,
|
|||
|
GAAP
|
Non-GAAP
(1)
|
||
|
2017
|
2016
|
2017
|
2016
|
|
(dollars in
thousands)
|
|||
Revenue
|
$17,192
|
$14,344
|
$17,192
|
$14,344
|
Gross
margin(2)
|
53.4%
|
52.9%
|
53.4%
|
52.9%
|
Income from
operations(2)
|
$3,764
|
$4,266
|
$3,695
|
$4,456
|
Net income
attributable to ACM Research, Inc.(2)
|
$3,384
|
$1,223
|
$3,315
|
$1,413
|
|
For the Year
Ended December 31,
|
|||
|
GAAP
|
Non-GAAP
(1)
|
||
|
2017
|
2016
|
2017
|
2016
|
|
(dollars in
thousands)
|
|||
Revenue
|
$36,506
|
$27,371
|
$36,506
|
$27,371
|
Gross
margin(2)
|
47.2%
|
48.7%
|
47.2%
|
48.7%
|
Income (loss) from
operations(2)
|
$700
|
$3,490
|
$2,323
|
$3,873
|
Net income (loss)
attributable to ACM Research, Inc.(2)
|
$(316)
|
$1,031
|
$1,307
|
$1,414
|
|
Toll-Free Number
|
Phone Number
|
United
States
|
+1
(845) 675-0437
|
+1
(866) 519-4004
|
Hong
Kong
|
+852
3018 6771
|
+852
800906601
|
Mainland
China
|
+86
(800) 819 0121
|
|
|
+86
(400) 620 8038
|
|
Other
International
|
+65
6713 5090
|
|
In the
United States:
|
The
Blueshirt Group
Ralph
Fong
+1
(415) 489-2195
ralph@blueshirtgroup.com
|
In
China:
|
The
Blueshirt Group Asia
Gary
Dvorchak, CFA
+86
(138) 1079-1480
gary@blueshirtgroup.com
|
|
December
31,
|
|
|
2017
|
2016
|
|
(in
thousands)
|
|
Assets
|
|
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
$17,681
|
$10,119
|
Accounts
receivable, less allowance for doubtful accounts of $0 and $0 as of
December 31, 2017 and 2016, respectively
|
26,762
|
16,026
|
Other
receivables
|
2,491
|
1,763
|
Inventory
|
15,388
|
11,666
|
Prepaid
expenses
|
546
|
720
|
Other current
assets
|
46
|
53
|
Total
current assets
|
62,914
|
40,347
|
Property, plant and
equipment, net
|
2,340
|
2,262
|
Intangible assets,
net
|
106
|
17
|
Deferred tax
assets
|
1,294
|
1,841
|
Investment in
equity method affiliates
|
1,237
|
-
|
Total
assets
|
$67,891
|
$44,467
|
|
|
|
Liabilities,
Redeemable Convertible Preferred and Stock Stockholders’
Equity (Deficit)
|
|
|
Current
liabilities:
|
|
|
Short-term
borrowings
|
$5,095
|
$4,761
|
Notes
payable
|
11
|
11
|
Investors’
deposit
|
-
|
2,902
|
Warrant
liability
|
3,079
|
-
|
Accounts payable
(including amounts due to a related party of $1,925 and $508 at
December 31, 2017 and 2016, respectively)
|
7,419
|
5,173
|
Advances from
customers
|
143
|
215
|
Income tax
payable
|
44
|
44
|
Other payables and
accrued expenses (including amounts due to a related party of
$2,024 and $1,883 as of December 31, 2017 and 2016,
respectively)
|
6,026
|
3,963
|
Total
current liabilities
|
21,817
|
17,069
|
Other long-term
liabilities
|
6,217
|
6,879
|
Total
liabilities
|
28,034
|
23,948
|
Total
redeemable convertible preferred stock (note 15)
|
-
|
18,034
|
Total
ACM Research, Inc. stockholders’ (deficit)
equity
|
39,857
|
(2,434)
|
Non-controlling
interests
|
-
|
4,919
|
Total
stockholders’ equity (deficit)
|
39,857
|
2,485
|
Total
liabilities, redeemable convertible preferred stock and
stockholders’ equity
|
$67,891
|
$44,467
|
|
Three Months
Ended
December
31,
|
Twelve Months
Ended
December
31,
|
||
|
2017
|
2016
|
2017
|
2016
|
|
(in
thousands, except share and per share data)
|
|||
Revenue
|
$17,192
|
$14,344
|
$36,506
|
$27,371
|
Cost of
revenue
|
8,020
|
6,761
|
19,281
|
14,042
|
Gross
profit
|
9,172
|
7,583
|
17,225
|
13,329
|
Operating expenses,
net:
|
|
|
|
|
Sales and
marketing
|
1,881
|
1,379
|
5,500
|
3,907
|
Research and
development
|
2,062
|
960
|
5,138
|
3,259
|
General and
administrative
|
1,465
|
978
|
5,887
|
2,673
|
Total
operating expenses, net
|
5,408
|
3,317
|
16,525
|
9,839
|
Income
from operations
|
3,764
|
4,266
|
700
|
3,490
|
Interest
income
|
2
|
4
|
9
|
16
|
Interest
expense
|
(80)
|
(64)
|
(277)
|
(181)
|
Equity in net
income of affiliates
|
16
|
-
|
37
|
-
|
Non-operating
income (expense), net
|
(261)
|
(814)
|
(792)
|
(343)
|
Income
(loss) before income taxes
|
3,441
|
3,392
|
(323)
|
2,982
|
Income tax benefit
(expense)
|
(76)
|
(536)
|
(547)
|
(595)
|
Net
income (loss)
|
3,365
|
2,856
|
(870)
|
2,387
|
Less: Net income
(loss) attributable to non-controlling interests
|
(19)
|
1,633
|
(554)
|
1,356
|
Net
income (loss) attributable to ACM Research, Inc.
|
$3,384
|
$1,223
|
$(316)
|
$1,031
|
|
|
|
|
|
Comprehensive
income (loss):
|
|
|
|
|
Net income
(loss)
|
$3,365
|
$2,856
|
$(870)
|
$2,387
|
Foreign currency
translation adjustment
|
(21)
|
(325)
|
472
|
(522)
|
Comprehensive
income (loss)
|
3,344
|
2,531
|
(398)
|
1,865
|
Less: Comprehensive
income (loss) attributable to non-controlling
interests
|
(22)
|
1,512
|
(369)
|
1,161
|
Total
comprehensive income (loss) attributable to ACM Research,
Inc.
|
$3,366
|
$1,019
|
$(29)
|
$704
|
|
|
|
|
|
Net income (loss)
per common shares:
|
|
|
|
|
Basic
|
$0.28
|
$0.31
|
$(0.05)
|
$0.30
|
Diluted
|
$0.23
|
$0.21
|
$(0.05)
|
$0.18
|
Weighted average
common stocks outstanding used in computing per share
amounts:
|
|
|
|
|
Basic
|
12,013,651
|
2,475,654
|
6,865,390
|
2,176,315
|
Diluted
|
14,978,998
|
3,713,008
|
6,865,390
|
3,792,137
|
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