Axcelis Technologies, Inc. (Nasdaq: ACLS) has announced its preliminary financial results for the second quarter of 2024, and the numbers are looking good. The company expects revenue to exceed $252 million, up from its previous guidance of $245 million. Additionally, diluted earnings per share are projected to be greater than $1.38, compared to the previously forecasted $1.30.
President and CEO Russell Low highlighted the company's solid performance in the quarter, attributing it to chipmakers' reliance on Axcelis' Purion platform to support their operations. Systems revenue surpassed expectations, partly due to improved conversion of evaluation systems to revenue.
Looking ahead, Axcelis anticipates a stronger second half of the year, slightly weighted towards the fourth quarter, indicating confidence in its future performance.
Axcelis is set to discuss its market opportunities, growth strategy, and long-term financial targets at the upcoming Axcelis 2024 Investor Event on July 11, 2024, in San Francisco. The event will feature presentations from all executive officers and will be available via live webcast for those unable to attend in person.
Following these positive developments, Axcelis will host a conference call to discuss its second-quarter financial results on August 1, 2024, at 8:30 a.m. ET.
In light of these preliminary financial results, the semiconductor industry is closely watching Axcelis as it continues to deliver innovative solutions and drive growth in the IC manufacturing process. The market has reacted to these announcements by moving the company's shares 5.2% to a price of $151.09. For more information, read the company's full 8-K submission here.
