Amtech Systems Inc. -- Investment Opinion -- Strong Buy.GAINESVILLE, Fla.--(BUSINESS WIRE)--Oct. 10, 1997--Barber & Bronson Inc. has issued a research update on Amtech Systems Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASYS) with a "1-Strong Buy" in the short term and "1-Strong Buy" for long term investors. Amtech Systems has been a supplier of capital equipment to the worldwide semiconductor industry since 1981. Amtech plans to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its established, long term relationships with many of the leading semiconductor manufacturers and its worldwide distribution capability by making strategic acquisitions within the equipment manufacturing industry. Its second acquisition was completed on July 1, 1997 with the purchase of P. R. Hoffman, a developer, manufacturer and marketer of double-sided precision lapping and polishing machines for use in processing wafer (1) A small, thin continuous-loop magnetic tape cartridge that has been used from time to time for data storage and specialized applications. (2) The base unit of chip making. It is a slice taken from a salami-like silicon crystal ingot up to 12" (300mm) in diameter. type products such as semiconductors, computer disk media and ceramic components for wireless communication devices. This acquisition nearly doubles the combined company's revenue base and is expected to immediately be accretive to earnings. Our forecast for this fiscal year, ending Sept.30, 1998, estimate that revenues will top $19 million and earnings per share will reach $.20, up 177% and 400% respectively, since 1995. As of Oct. 9, the date of the report, the stock was trading at 12.2x estimated 1998 EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. and 1.5x its book value of $1.60 per share. Our 12-18 month target price range is $5-6 per share. Barber A barber (from the Latin barba, "beard") is someone whose occupation is to cut any type of hair, give shaves, and trim beards. In previous times, barbers also performed surgery and dentistry. & Bronson Inc. is a full-service brokerage and investment banking firm based in Miami, with offices in Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Hilton Head, S.C. A copy of the report will be available shortly on our web site at http://www.barberbronson.com . -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.barberbronson.com. These symbols may not appear properly in some systems. CONTACT: Barber & Bronson Inc., Gainesville Jeff Hasse, 352/378-2133 or 352/375-6449 - Fax |
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