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Amtech Systems Stock Plunges After EPS, Revenue Miss -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Fabricator of capital equipment Amtech Systems Inc (NASDAQ) shares fell by 30% after Inc reported that its top and bottom lines were not as expected.

Amtech posted earnings per share for revenue $24.34million of $5. Investing.comAn EPS of 9 Cents is expected for revenue of $26.03 Million.

Last quarter, the company exceeded EPS expectations by 4 cents and revenue fell short of expectations. The company’s shares ended the day 1.5% higher that day.

Amtech’s CEO Michael Whang expressed optimism despite the fact that “industrywide supply chain and logistics challenges are creating near term headwinds,”

Amtech had a great fiscal 2021, recording over $115million in bookings and more than $85million in revenue. This was an increase of 84% compared to 30% each year. Whang commented that this strong performance will be continued into 2022. Amtech has a record backlog at $44.1 million, and there is new quoting activity going into the second financial quarter.

Amtech reported a disappointing outlook, which was a blow to shareholders. Amtech expects that revenue for the quarter will be between $24 and $27 million. Analysts expected revenue guidance of $27.7 millions for the quarter.

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