Amtech Systems Inc. (ASYS) filed Annual Report for the period ended 2009-09-30.
AMTECH SYSTEMS, INC. is engaged in the manufacture of several items of capital equipment, one of which is patented, used by customers in the manufacture of semiconductors. Co. has recently obtained a U.S. patent on technology on which it expects to base a proposed new photo chemical vapor deposition (``CVD``) product for use in semiconductor manufacturing facilities. The Company has engaged the University of California, Santa Cruz, to conduct a study to determine the feasibility of such a product. Amtech Systems Inc. has a market cap of $57 million; its shares were traded at around $6.36 with a P/E ratio of 35.3 and P/S ratio of 0.7.
Highlight of Business Operations:
For fiscal 2009, we recognized net revenue of $53.0 million, which included $34.8 million of solar revenue or approximately 66% of our total revenue. These results compare to $80.3 million of net revenue for fiscal 2008, which included $50.1 million of solar revenue or approximately 62% of our total revenue. Our order backlog as of September 30, 2009 and 2008 was $32.4 million and $46.7 million, respectively, a 31% decrease. Our backlog as of September 30, 2009 included approximately $27.9 million of orders from our solar industry customers compared to $36.7 million of orders from our solar industry customers as of September 30, 2008. Because our orders are typically subject to cancellation or delay by the customer, our backlog at any particular point in time is not necessarily representative of actual sales in subsequent periods, nor is backlog any assurance that we will realize revenue or profit from completing these orders.
Established, Diversified Customer Base. We have long-standing relationships with many of our top customers, which we believe remain strong. We maintain a broad base of customers, including leading solar cell manufacturing companies, as well as semiconductor and wafer manufacturing companies. During fiscal 2009, our largest customer accounted for approximately 16% of our net revenue and our top 10 customers collectively represented approximately 62% of our net revenue. In fiscal 2008, our largest customer accounted for approximately 20% of our net revenue, and our top 10 customers collectively represented approximately 62% of our net revenue. In fiscal 2007, our largest customer accounted for approximately 13% of our net revenue, and our top 10 customers collectively represented approximately 52% of our net revenue. E-Ton Solar Tech accounted for 16%, 4% and 13% of our net revenue in fiscal 2009, 2008 and 2007, respectively. At the end of fiscal 2009 and 2008, 31% and 40% of our total backlog consisted of orders and deferred revenue from E-Ton Solar Tech, respectively. The customer-supplier relationship is our sole relationship with E-Ton Solar Tech.
Rate This Article: |
  |