ACM Research Announces Preliminary 2020 Revenue and Initial Outlook for 2021 Revenue
January 05 2021 - 4:15PM
ACM Research, Inc. (ACM) (NASDAQ: ACMR), a leading supplier of
wafer processing solutions for semiconductor and advanced
wafer-level packaging applications, today announced that its
preliminary unaudited revenue for the full year 2020 is expected to
be in the range of $153 million to $155 million. This would
represent annual growth of 42% to 44%, and would be at the upper
end of the outlook range provided in ACM’s third quarter 2020
earnings release issued on November 5, 2020.
ACM also announced that it expects revenue for the full year
2021 to be in the range of $205 million to $230 million, which
would represent annual growth of between 32% and 50%. This
expectation assumes, among other factors, improvement with respect
to the global COVID-19 pandemic and stability in US-China trade
policy. The range of ACM’s 2021 outlook reflects, among other
things, various spending scenarios for the production ramps of key
customers, variance in the trajectory of the DRAM recovery, and the
timing of acceptances for first tools under evaluation in the
field.
“We expect another year of strong growth in 2021 as we execute
on our mission to become a major equipment supplier to the global
semiconductor industry,” said Dr. David Wang, ACM’s President and
Chief Executive Officer. “We anticipate solid growth from our top
customers, incremental contribution from our two new analog
customers, and significant growth from our newer Ultra C Tahoe,
semi-critical cleaning tools, ECP ap, ECP map, ECP tsv and multiple
types of furnace products. We continue to invest in new products,
global sales and marketing, and production capacity to support our
long-term growth objectives.”
ACM plans to release its fourth quarter and full year 2020
financial results in late February 2021. The 2020 revenue results
included in this press release are preliminary. Actual full year
2020 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 holding virtual meetings
with investors on January 7, 2021 (China time) at the Credit Suisse
2021 Greater China Technology and Internet Virtual Conference, and
on January 11, 2021 (U.S. time) at the 23rd Annual Needham Growth
Conference.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process
equipment for single-wafer or batch wet cleaning, electroplating,
stress-free polishing and thermal processes that are critical to
advanced semiconductor device manufacturing, as well as wafer-level
packaging. The company is committed to delivering customized, high
performance, cost-effective process solutions that semiconductor
manufacturers can use in numerous manufacturing steps to improve
productivity and product yield.
Forward-Looking Statements
Information presented in this press release includes
forward-looking statements 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 2020 revenue, statements in the second
paragraph with respect to projected 2021 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, any of which could be exacerbated even further by the
continuing COVID-19 outbreak in China and globally: anticipated
customer orders or identified market opportunities may not grow or
develop as anticipated; customer orders already received may be
postponed or canceled; ACM may be unable to obtain the
qualification and acceptance of its delivered tools when
anticipated or at all, which would delay or preclude ACM’s
recognition of revenue from the sale of those tools; suppliers may
not be able to meet ACM’s demands on a timely basis; ACM’s
technologies and tools may not gain market acceptance; ACM may be
unable to compete effectively by, among other things, enhancing its
existing tools; volatile global economic, market, industry, 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 nonU.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. ACM undertakes no obligation to
publicly update these forward-looking statements to reflect events
or circumstances that occur after the date hereof or to reflect any
change in its expectations with regard to these forward-looking
statements or the occurrence of unanticipated events.
© ACM Research, Inc. ULTRA C and the ACM Research logo are
trademarks of ACM Research, Inc. For convenience, these trademarks
appear in this press release without ™ symbols, 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:
In the United States: |
The Blueshirt
Group |
|
Ralph Fong |
|
+1 (415) 489-2195 |
|
ralph@blueshirtgroup.com |
|
|
In China: |
The Blueshirt Group Asia |
|
Gary Dvorchak, CFA |
|
+86 (138) 1079-1480 |
|
gary@blueshirtgroup.com |
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