Amtech Systems reiterates revenue guidance
Shares of Amtech Systems, Inc. (Nasdaq: ASYS) are heading higher after the global manufacture of solar cells, semiconductors and silicon wafers reiterated its strong business fundamentals, order growth and outlook for fiscal year 2008.
For fiscal 2008, Amtech restated revenue guidance to be in the range of $65 to $75 million, representing growth of approximately 40% to 60% over fiscal 2007. Last year the firm made $45.98 million in revenue. An analyst polled by Thomson Financial is forecasting revenue of $73.80 million for 2008.
Today’s announcement comes on the heels of disappointing fourth-quarter earnings and tempered fiscal first-quarter revenue guidance disclosed on Wednesday.
To ease apprehension investors had surrounding Wednesday’s information, the company also restated that although it was adversely impacted by the timing of shipment and acceptance of several systems moving into the second quarter of fiscal 2008, the change has no impact on the company’s underlying business conditions or fundamentals.
Shares of Amtech Systems (ASYS) gained $0.03, or 0.26%, to $11.40 during morning trading. Shares of Amtech Systems have been trading in the range of $6.65 to $17.74 for the past 52 weeks.
