By Adriano Marchese
Shares in ACM Research soared in premarket trading Wednesday after reporting better-than-expected results in the fourth quarter and maintaining its revenue forecast for 2025.
Shares traded 19% higher on the Nasdaq at $27.20.
The semiconductor company generated fourth-quarter revenue of $223.5 million, up from $170.3 million last year. Analysts polled on FactSet expected a rise, but more modestly to $194.9 million.
Net income jumped as well, rising to $31.1 million, or 46 cents a share, from $17.7 million, or 26 cents a share, in the prior-year period.
On an adjusted basis, per-share earnings were 56 cents, topping expectations of 40 cents.
Chief Executive David Wang said the company gained additional market share by capitalizing on product cycles and deepening engagements with its key customers backed by its multi-product portfolio.
For 2025, ACM said that it still expects revenue in the range of $850 million to $950 million, which takes into account continued international trade policy challenges as well as various expected spending scenarios of key customers.
For gross margin, the company said in the long-term it now expects a target range of 42% to 48%, up from a previous 40% to 45%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 26, 2025 09:11 ET (14:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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