ACM Research's Q1 2024 Revenue Surges 105%

ACM Research, Inc. has released its preliminary unaudited revenue and total shipments for the first quarter of 2024, coinciding with the release of ACM Shanghai's first quarter 2024 results. The company announced that the preliminary unaudited revenue for the first quarter of 2024 is expected to be in the range of $150 million to $152 million, reflecting a significant year-to-year growth of 102% to 105%.

In addition, the preliminary total shipments for the same period are expected to be in the range of $235 million to $240 million, representing year-to-year growth of 163% to 169%. The company also reaffirmed its full-year 2024 revenue outlook in the range of $650 million to $725 million, signaling a year-to-year growth of 17% to 30%.

These figures demonstrate a strong performance for ACM Research, Inc., with substantial growth in both revenue and shipments compared to the previous year. The company is set to discuss its full financial results for the first quarter of 2024 and its revenue outlook for the rest of the year on its earnings call on May 8, 2024.

ACM Research, Inc. is a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications. The company develops, manufactures, and sells semiconductor process equipment critical to advanced semiconductor device manufacturing, as well as wafer-level packaging.

The unaudited first quarter 2024 results are subject to the completion of ACM's quarter-end closing procedures and review by its independent registered public accounting firm. It's important to note that the stand-alone financial results of ACM Shanghai are reported in RMB in accordance with Chinese generally accepted accounting principles and may differ materially from ACM's consolidated revenue and net profit, which are prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles. The market has reacted to these announcements by moving the company's shares -8.4% to a price of $25.9. For more information, read the company's full 8-K submission here.

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