ACM Research Announces Preliminary 2019 Revenue and Initial Outlook for 2020 Revenue
January 13 2020 - 4:05PM
ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of
wafer cleaning technologies for advanced semiconductor devices,
today announced that preliminary unaudited revenue for the full
year 2019 is expected to be in the range of $105 million to $107
million. This would represent 41% to 43% annual growth, and
would equal or exceed the outlook provided in its third quarter
2019 earnings release issued on November 6, 2019.
ACM also announced that it expects revenue for the full year
2020 to be in the range of $130 million to $150 million, which
would represent annual growth of between 21% and 43%.
“We expect another year of strong growth in 2020, as we execute
on our mission to become a major supplier of equipment to the
global semiconductor industry,” said Dr. David Wang, ACM’s
CEO. “We anticipate solid growth from our top customers, with
incremental contribution from our new Ultra C Tahoe, TEBO, ECP AP
and ECP MAP products. The range in our full-year 2020 outlook
reflects various spending scenarios of the trajectory for
production ramps for our customers, the recovery speed of the DRAM
market, and the timing of revenue acceptance for first tools under
evaluation in the field.”
ACM plans to release its fourth quarter and full year 2019
financial results in early March 2020. The 2019 revenue results
included in this press release are preliminary. Actual full year
2019 revenue results are subject to the completion of ACM’s
year-end financial closing procedures, and review and audit
procedures by ACM’s independent registered public accounting
firm.
As previously announced, ACM will be meeting with investors on
January 14, 2020 at the 22nd Annual Needham Growth Conference in
New York City. Attendance at the conference is by invitation
only for Needham & Company clients, but ACM will present a
company overview at 3:30 PM EDT that will be publicly
available via webcast accessible live, and posted shortly after the
presentation, on the investor relations section of ACM’s website at
http://ir.acmrcsh.com/.
Forward-Looking Statements
Information presented in this press release includes
forward-looking for purposes of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All
statements contained in this press release that do not relate to
matters of historical fact should be considered forward-looking
statements, including statements in the first paragraph with
respect to preliminary 2019 revenue, statements in the second
paragraph with respect to projected 2020 revenue and all of the
statements in the third paragraph. Forward-looking statements
are based on ACM management’s current expectations and beliefs, and
involve a number of risks and uncertainties that are difficult to
predict and that could cause actual results to differ materially
from those stated or implied by the forward-looking
statements. Those risks and uncertainties include, but are
not limited to, the following: anticipated customer orders or
identified market opportunities may not grow or develop as
anticipated; customer orders already received may be postponed or
canceled; suppliers may not be able to meet ACM’s demands on a
timely basis; volatile global economic, market, industry,
regulatory and other conditions could result in sharply lower
demand for products containing semiconductors and for ACM's
products and in disruption of capital and credit markets; ACM’s
failure to successfully manage its operations; and trade
regulations, currency fluctuations, political instability and war
may materially adversely affect ACM due to its substantial non-U.S.
customer and supplier base and its substantial non-U.S.
manufacturing operations. A further description of these
risks, uncertainties and other matters can be found in filings ACM
makes with the Securities and Exchange Commission. Because
forward-looking statements involve risks and uncertainties, actual
results and events may differ materially from results and events
currently expected by ACM, and ACM assumes no obligation and
expressly disclaims any duty to update information contained in
this press release except as required by law.
About ACM Research, Inc.
ACM Research develops, manufactures and sells single-wafer wet
cleaning equipment, which semiconductor manufacturers can use in
numerous manufacturing steps to remove particles, contaminants and
other random defects, and thereby improve product yield, in
fabricating advanced integrated circuits.
© ACM Research, Inc. The ACM logo, TEBO and ULTRA C are
trademarks of ACM Research, Inc. For convenience, these trademarks
appear in this press release without a ™ symbol, but that practice
does not mean that ACM will not assert, to the fullest extent under
applicable law, its rights to such trademarks.
For investor and media inquiries, please
contact: |
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In the United States: |
The Blueshirt Group |
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Ralph Fong |
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+1 (415) 489-2195 |
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ralph@blueshirtgroup.com |
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In China: |
The Blueshirt Group Asia |
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Gary Dvorchak, CFA |
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+86 (138) 1079-1480 |
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gary@blueshirtgroup.com |
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