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Apr 04, 2021
SkyWater Q1 2021 Earnings Report
SkyWater reported record net sales driven by growth in Advanced Technology Services (ATS) business. The company's Minnesota fab is ramping automotive and IoT-related production. SkyWater's Advanced Packaging fab in Florida is progressing as planned.
Key Takeaways
SkyWater Technology reported a strong first quarter with record net sales of $48.1 million, a 30% increase year-over-year. The growth was primarily driven by a 61% increase in Advanced Technology Services (ATS) sales. The company completed its initial public offering in April.
Net sales grew 30% year-over-year to $48.1 million.
Advanced Technology Services sales increased 61% year-over-year.
Wafer Services sales decreased 25% year-over-year.
Gross profit was $9.2 million, compared to $6.4 million in the first quarter of 2020.
Revenue by Segment
Revenue & Expenses
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Avg. Return Before/After Earnings
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