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Amtech Systems Inc (ASYS) SEC Filing 10-K Annual report for the fiscal year ending Friday, September 30, 2016

Amtech Systems Inc

CIK: 720500 Ticker: ASYS


EXHIBIT 99.1

Amtech Reports Fourth Quarter Fiscal 2016 Results

TEMPE, Ariz., November 17, 2016 /PRNewswire/ -- Amtech Systems, Inc. (NASDAQ: ASYS), a global supplier of production equipment and related supplies for the solar, semiconductor, and LED markets, today reported results for its fourth quarter and fiscal year ended September 30, 2016.

Fourth Quarter Fiscal 2016 Operations and Financial Highlights
Customer orders of $27.7 million (solar $11.8 million)
Net revenue of $42.4 million (solar $22.6 million)
Quarter-end backlog of $48.6 million (solar $34.0 million)
Non-cash charge for valuation allowance on deferred tax assets of $0.4 million
Provision for doubtful accounts receivable of $1.8 million
Net loss of $0.3 million, or $0.02 per share

Fiscal Year 2016 Financial Highlights
Customer orders of $138.3 million (solar $76.0 million)
Net revenue of $120.3 million (solar $60.9 million)
Book to bill ratio of 1.1:1 (solar 1.2:1)

Mr. Fokko Pentinga, Chief Executive Officer of Amtech, commented, “We are seeing a high level of interest in our newly introduced next generation technology solutions. There has been strong quoting activity throughout this past year which is translating to bookings including those for our new high throughput PECVD and ALD systems. We shipped our first combined PECVD and ALD PERC solution to a top-tier customer in November 2016. The market is showing interest in selective capacity expansion needs, line upgrades, and high-efficiency technology adaptation to ensure competitiveness and long-term profitable growth. We are also pleased to report that our SEMI business saw good volumes and margins in the fourth quarter.”

“Over the course of the last few years we have been diligent in our efforts to best align our global businesses with the rapidly changing market environment. With measurable improvements throughout our fiscal year 2016, our ongoing initiatives have positioned us very well to leverage our many strengths as markets improve.”
 
Financial Results

Customer orders in the fourth quarter of fiscal 2016 were $27.7 million ($11.8 million solar), compared to $30.0 million ($13.2 million solar) in the preceding quarter and $18.8 million ($5.3 million solar) in the fourth quarter of fiscal 2015. For the year ended September 30, 2016 and 2015 customer orders were $138.3 million ($76.0 million solar) and $109.9 million ($61.2 million solar), respectively.

At September 30, 2016, the Company’s order backlog was $48.6 million (solar $34.0 million), compared to total backlog of $63.8 million (solar $45.3 million) at June 30, 2016 and $34.6 million (solar $22.9 million) at September 30, 2015. Backlog includes deferred revenue and customer orders that are expected to ship within the next 12 months.

Net revenue for the fourth quarter of fiscal 2016 was $42.4 million compared to $33.3 million in the preceding quarter and $28.2 million in the fourth quarter of fiscal 2015. The sequential and year-over-year increases were due to higher shipments from our solar, semiconductor and polishing segments. Gross margin in the fourth quarter of fiscal 2016 was 29%, compared to 29% in the previous quarter and 23% in the fourth quarter of fiscal 2015. Sequentially, the gross margins were higher in our semiconductor segment primarily due to favorable product mix but were offset by lower gross margins in our solar segment primarily due to



The following information was filed by Amtech Systems Inc (ASYS) on Thursday, November 17, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Acquisitions - Assets Acquired And Liabilities Assumed (details)
Acquisitions - Consideration Transferred (details)
Acquisitions - Pro Forma (details)
Business Segments
Business Segments (details)
Business Segments (tables)
Commitments And Contingencies
Commitments And Contingencies (development Projects) (details)
Commitments And Contingencies (legal Proceedings) (details)
Commitments And Contingencies (operating Leases) (details)
Commitments And Contingencies (purchase Obligations) (details)
Commitments And Contingencies Epa Accrual (details)
Deconsolidation
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Earnings Per Share & Diluted Earnings Per Share
Earnings Per Share & Diluted Earnings Per Share (details)
Earnings Per Share & Diluted Earnings Per Share (tables)
Geographic Regions
Geographic Regions (details)
Geographic Regions (tables)
Income Taxes
Income Taxes (components Of Provision (benefit)) (details)
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (deferred Tax Valuation Allowance) (details)
Income Taxes (reconciliation Actual Income Taxes To Expected Federal Corporate Taxes) (details)
Income Taxes (textual) (details)
Income Taxes (unrecognized Tax Benefit) (details)
Income Taxes Components Of Income Before Income Tax (details)
Income Taxes Income Taxes (tables)
Investments
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Long-term Debt
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Long-term Debt (tables)
Long-term Debt - Maturities Of Long-term Debt (details)
Major Customers And Foreign Sales
Major Customers And Foreign Sales (details)
Major Customers And Foreign Sales (tables)
Related Party Transactions (details)
Related Party Transactions (notes)
Restructuring Charges
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Selected Quarterly Data (unaudited)
Selected Quarterly Data (unaudited) (details)
Selected Quarterly Data (unaudited) (tables)
Stock-based Compensation
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Stockholders' Equity
Stockholders' Equity (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (allowance For Doubtful Accounts) (details)
Summary Of Significant Accounting Policies (concentrations Of Credit Risk) (details)
Summary Of Significant Accounting Policies (deferred Profit) (details)
Summary Of Significant Accounting Policies (foreign Currency Transactions And Translation) (details)
Summary Of Significant Accounting Policies (goodwill) (details)
Summary Of Significant Accounting Policies (intangibles) (details)
Summary Of Significant Accounting Policies (inventories) (details)
Summary Of Significant Accounting Policies (pensions) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (property, Plant And Equipment) (details)
Summary Of Significant Accounting Policies (research And Development Expense) (details)
Summary Of Significant Accounting Policies (restricted Cash) (details)
Summary Of Significant Accounting Policies (shipping Expense) (details)
Summary Of Significant Accounting Policies (stock-based Compensation) (details)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies (warranty) (details)
Ticker: ASYS
CIK: 720500
Form Type: 10-K Annual Report
Accession Number: 0000720500-16-000116
Submitted to the SEC: Wed Nov 30 2016 5:32:16 PM EST
Accepted by the SEC: Wed Nov 30 2016
Period: Friday, September 30, 2016
Industry: Special Industry Machinery

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