NASDAQ$ACLS

Axcelis Technologies Inc. · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported a significant increase in system revenues and achieved profitability through strategic initiatives.

Axcelis Technologies reported strong fourth-quarter results, highlighted by a 94% increase in system revenues. The company's strategic focus on expanding its Purion installed base and managing operating expenses contributed to profitability.

  • Fourth-quarter revenue reached $107.7 million.
  • Operating profit for the quarter was $13.2 million.
  • Net income for the quarter was $9.7 million, or $0.29 per diluted share.
  • Gross margin for the quarter was 41.1%.

Headline financials

Total Revenue

$108M

Previous: $106M+1.9%
EPS (adj)

$0.29

Previous: $0.25+16.0%
Capital Expenditures

$905K

Previous: $863K+4.9%
Free Cash Flow

-$14.2M

Previous: $28.9M-149.0%
Net Income

$9.7M

Previous: $8.46M+14.6%
Operating Income

$13.2M

Previous: $11.5M+14.6%
Gross Profit

$44.3M

Previous: $43.6M+1.6%
Cash & Equivalents

$147M

Previous: $178M-17.7%
Total Assets

$548M

Previous: $548M-0.1%
Stock-Based Comp

$2.03M

Previous: $2.18M-6.8%

Revenue & EPS history

Axcelis · Revenue · Quarterly

$108M

Q4 2019+1.9%vs Q4 2018
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Forward guidance

For the first quarter of 2020, Axcelis expects revenues of approximately $115 million, gross margin around 37%, and operating profit of approximately $9.5 million, with earnings per diluted share expected to be approximately $0.21.

Tailwinds

  • Expects revenues of approximately $115 million.
  • Earnings per diluted share is expected to be approximately $0.21.

Headwinds

  • Gross margin in the first quarter is expected to be around 37%.
  • Impacted by the planned closure of three evaluation systems in the quarter.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.0%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.3%

Avg return

30 days after

57%

37 / 65 earnings

Positive

+14.2%

Q1 2020

Best reaction

-21.1%

Q3 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.6%-5.5%-14.1%
Q4 2025-16.6%-20.0%-14.3%
Q3 2025+4.8%+8.6%+12.8%
Q1 2025+5.0%+10.7%+15.9%
Q4 2024-12.3%-9.6%-13.9%
Q3 2024+1.9%-0.2%-13.2%
Q2 2024-3.9%-6.9%-6.8%
Q1 2024+3.0%+9.6%+8.7%
Q4 2023-5.8%-5.8%-13.8%
Q3 2023+0.4%+1.4%-1.3%
Q2 2023-4.9%-7.8%-1.7%
Q1 2023-6.7%-1.4%+33.4%
Q4 2022+4.8%+8.1%+4.2%
Q3 2022+1.8%+17.7%+34.0%
Q2 2022+12.2%+7.8%-9.5%
Q1 2022+0.3%-4.3%+8.8%
Q4 2021+7.0%+3.0%+4.5%
Q3 2021+1.5%+8.5%+8.6%
Q2 2021+11.7%+13.1%+28.1%
Q1 2021-5.0%-2.4%-4.7%
Q4 2020+1.8%+4.0%+4.1%
Q3 2020-0.3%-1.3%+20.2%
Q2 2020-16.0%-16.7%-24.6%
Q1 2020+14.2%+17.3%+19.4%
Q4 2019+10.9%+12.4%-7.0%
Q3 2019+6.3%+11.5%+9.2%
Q2 2019-1.3%-0.3%+6.8%
Q1 2019-13.6%-20.8%-32.6%
Q4 2018+3.6%+2.1%-9.1%
Q3 2018+4.7%+0.0%+15.4%
Q2 2018+3.8%-0.2%-9.6%
Q1 2018-6.0%-1.1%-3.3%
Q4 2017+0.2%-3.4%+7.1%
Q3 2017+10.7%+4.6%-2.4%
Q2 2017-2.0%+1.0%+4.9%
Q1 2017+11.7%+9.1%+21.8%
Q4 2016+7.6%+7.6%+0.3%
Q3 2016-21.1%-15.1%-8.5%
Q2 2016+3.4%+8.2%+12.6%
Q1 2016-9.1%
Q4 2015-8.4%
Q3 2015-20.4%
Q2 2015+8.9%
Q1 2015+6.5%
Q4 2014+6.8%
Q3 2014-1.4%
Q2 2014-1.1%
Q1 2014+0.6%
Q4 2013-4.7%
Q3 2013+5.0%
Q2 2013-2.3%
Q1 2013+12.3%
Q4 2012-2.9%
Q3 2012+4.7%
Q2 2012+12.4%
Q1 2012+1.7%
Q4 2011-2.3%
Q4 2009-2.3%
Q3 2010+0.7%
Q3 2011+0.7%
Q2 2011-9.2%
Q2 2010-9.2%
Q4 2010-9.2%
Q1 2011+1.0%
Q1 2010+8.1%

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