Amtech Systems Inc. Enters Optical Component Market With Record $6.4 Million Order.Business Editors/High-Tech Writers TEMPE, Ariz.--(BUSINESS WIRE)--Aug. 16, 2000 Amtech Systems Inc. (Nasdaq: ASYS) Wednesday announced that it has secured a new order for $6.4 million of semiconductor production equipment, marking its entry into the optical component telecomm market. This large order represents a new record for the company. The order is for 11 diffusion furnace systems to be delivered over the next 12 months. The company's products will be used in the production of optical integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for devices that are critical components in high-speed switches for broadband communications over fiber optic lines, a new market for the company. J.S. Whang, the company's president and chief executive officer, stated, "Our customer for these products is a well financed European company in a rapidly growing industry that produces these technologically leading-edge optical switches used in high-speed telecommunications. "According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the recent forecast of RHK RHK Ratahallintokeskus (Finnish: Finnish Rail Administration) RHK Ryan Hankin Kent (RHK, Inc. marketing consulting firm) RHK Rigshospitalets Kollegium (Copenhagen, Denmark dorm) , the worldwide optical component telecommunications market is projected to increase from $6.6 billion in 1999 to $23 billion in 2003. Therefore, this could become an important emerging market for the Company's diffusion furnaces. The Company also has a diffusion furnace order from another producer of integrated optical components and has provided quotations to other manufacturers in this exciting new industry." The 11 systems include six high-temperature, oxidation systems and five ultra-high temperature diffusion furnaces for a proprietary process at over 1300 degrees centigrade centigrade /cen·ti·grade/ (sen´ti-grad) having 100 gradations (steps or degrees); see under scale. cen·ti·grade adj. Celsius. . Previously, the company delivered one ultra-high temperature furnace to the same customer. At June 30, 2000, the order backlog was $14,151,000, an increase of 218% from the $4,444,000 backlog at March 31, 2000. The June 30, 2000 backlog includes two recent, large orders, one for five fully automated diffusion furnaces and the other for the 11 diffusion furnace systems, referred to above, which are to be shipped over the next 12 months. Because of the recent increase in orders, the company expects to achieve significantly higher revenue and operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. over the next several quarters. Amtech Systems Inc. manufactures capital equipment, including silicon wafer handling automation, semiconductor processing equipment and related consumables used in fabricating semiconductor devices. Semiconductors, or semiconductor chips, are fabricated on silicon wafer substrates, sliced from ingots, and are part of the circuitry, or electronic components, of many products, including computers, telecommunications devices, automotive products, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and and industrial automation and control systems. The company's semiconductor handling and processing products currently address the polishing of newly sliced silicon wafers and reclaimed test wafers and the oxidation and deposition steps used in the fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. of semiconductors. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Amtech Systems Inc.) contains statements that are forward-looking. Such forward-looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, industry specific and general business conditions, competitive market conditions, success of Amtech's growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements. The company does not undertake any obligation to update any of these forward-looking statements for changing circumstances. For more information, review the company's filings with the Securities and Exchange Commission, including, but not limited to, Amtech Systems Inc.'s annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and quarterly reports on Form 10-Q Form 10-Q See 10-Q. . |
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