By Sabela Ojea
Shares of Amtech Systems on Wednesday dropped after the company cut its outlook for the second quarter, citing weaker demand in its semiconductor fabrication solutions segment.
The stock was down 13% to $3.69 in post-market trading. Shares have fallen 22% year to date.
The supplier of semiconductor equipment and materials said it now expects second-quarter revenue of $15 million to $16 million, down from a prior guidance between $21 million and $23 million. Analysts polled by FactSet forecast revenue of $22 million.
"As we navigate market conditions in the mature node semiconductor industry, we are continuing to actively explore opportunities to further optimize costs and improve efficiency," Chief Executive Bob Daigle said.
The company's outlook was also cut after its thermal processing solutions business dealt with a dispute over a cancelled order that resulted in the shipping delay of a separate order worth $4.9 million. Amtech believes the equipment will ship when it resolves the other matter, the company said.
In addition, Amtech said it expects to book a material impairment charge, whose extent is being determined with help from external advisers.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 09, 2025 17:24 ET (21:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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