Axcelis Q1 2020 Earnings Report

Axcelis reported strong first quarter performance driven by continued demand for Purion products.

Key Takeaways

Axcelis announced strong first-quarter results with revenue of $119 million and net income of $11.2 million, driven by continued demand for Purion products. The company's CEO highlighted their differentiated product line and robust balance sheet as strengths for navigating the difficult period.

Revenue for the first quarter was $119 million, compared to $107.7 million in the previous quarter.

Operating profit for the quarter was $13.7 million, compared to $13.2 million in the previous quarter.

Net income for the quarter was $11.2 million, or $0.33 per diluted share, compared to $9.7 million, or $0.29 per diluted share in the previous quarter.

Cash, cash equivalents, and restricted cash were $181.4 million on March 31, 2020, compared to $146.5 million on December 31, 2019.

Total Revenue

$119M

Previous year: $91.5M