Axcelis Technologies, Inc. announced financial results for the third quarter of 2023.
- The Company reported third quarter revenue of $292.3 million, compared to $274.0 million for the second quarter of 2023.
- Operating profit for the quarter was $71.7 million, compared to $63.7 million for the second quarter.
- Net income for the quarter was $65.9 million, or $1.99 per diluted share, compared to $61.6 million, or $1.86 per diluted share in the second quarter.
- Gross margin for the quarter was 44.4%, compared to 43.7% in the second quarter.
- Third quarter ended with systems backlog of $1.2 billion on quarterly bookings of $198 million.
President and CEO Russell Low commented, “Axcelis delivered strong third quarter financial performance due to robust demand for the Purion product family, especially in the silicon carbide power market. Axcelis is the only company with a product line that can deliver complete recipe coverage for all power device applications. We are the technology leader and the supplier of choice providing the best device manufacturing capabilities. This uniquely positions Axcelis to benefit from high growth in this market. Axcelis expects to achieve revenue of greater than $1.1 billion in 2023.”
Executive Vice President and Chief Financial Officer James Coogan said, “We are very pleased with our third quarter 2023 financial results. Revenue, EPS and gross margins all finished well above guidance. Axcelis has had the rare opportunity to grow revenue 20% year over year as well as improve profitability during a significant industry downturn. This is a result of strong product positioning and continued strong execution in a challenging environment.”
Original – Axcelis Technologies