Axcelis Announces Financial Results for First Quarter 2010
BEVERLY, Mass., May 4, 2010
GLOBE NEWSWIRE
Axcelis Technologies, Inc. (Nasdaq:ACLS) today announced financial results for the quarter ended March 31, 2010.
The Company reported first quarter revenue of $48.5 million, compared to $38.7 million for the fourth quarter of 2009, a 25% increase. Net loss for the first quarter was $11.1 million, or $0.11 per share. This compares to a net loss for the fourth quarter of 2009 of $10.0 million, or $0.10 per share. Cash and cash equivalents, including restricted cash, were $41.6 million at March 31, 2010. The company used $10.2 million in cash during the quarter. The Company ended the quarter with working capital of $157.3 million.
Commenting on the Company's performance, Mary Puma, chairman and CEO, stated, "Our business continues to strengthen as demand for our customers' products increases and additional manufacturing capacity is required. As a result, we are experiencing robust growth in both new system orders and aftermarket sales. During the quarter we secured significant penetrations in high current implant and cleaning at logic, memory and foundry chip manufacturers, and we expect this traction to continue as customers recognize the competitive advantages our technology provides. We are confident that this will translate into improving financial performance throughout 2010, including a return to profitability and positive cash flow generation."
First Quarter 2010 Conference Call
The Company will host a conference call today at 5:00 pm ET to discuss results for the first quarter 2010. The call will be available to interested listeners via an audio webcast that can be accessed through Axcelis' home page at www.axcelis.com, or by dialing 1-888-713-4218 (1- 617-213-4870 outside North America). Participants calling into the conference call will be requested to provide the company name, Axcelis Technologies and pass code: 58143672. Webcast and telephone replays will be available from 8 pm ET on May 4, 2010 until 11:59 pm on July 29, 2010. Dial 1- 888-286-8010 (617-801-6888 outside North America), and enter conference ID code# 48979281.
