TEMPE, Ariz. — (BUSINESS WIRE) — February 8, 2023 — Amtech Systems, Inc. ("Amtech") (NASDAQ: ASYS), a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power, analog and discrete devices, and electronic assemblies and modules focusing on enabling technologies for electric vehicles (EV) and clean technology (CleanTech) applications, today reported results for its first quarter ended December 31, 2022.

First Quarter Fiscal 2023 Financial and Operational Highlights:

• Net revenue of $21.6 million
• Operating loss of $2.7 million, inclusive of $1.4 million in acquisition costs and $0.4 million in severance expenses
• Net loss of $2.7 million
• Net loss per diluted share of $0.20
• Customer orders of $25.2 million
• Book to bill ratio of 1.2:1
• December 31, 2022 backlog of $54.5 million

“While the uncertain macroeconomic outlook and timing of capacity expansion projects are creating near-term softness for our advanced packaging and SMT products, demand for EV applications remained robust, with customer orders of $25.2 million during our first quarter of fiscal 2023. Together with our recent acquisition of Entrepix, we are confident that our strategy to align our divisions to high-growth megatrend markets, such as EV and silicon carbide is gaining traction. We believe this strategic alignment to megatrend growth areas across multiple product and customer touchpoints creates a strong and durable foundation for value creation in the coming years,” commented Mr. Michael Whang, Chief Executive Officer of Amtech.

GAAP Financial Results