Amtech reports growing revenues, high expectations

Momentum appears to be building in the PV production equipment market, with Amtech the latest company to report growing order books. While the company reported a net loss in Q2 2015 of US$2.3 million, it reported bookings in the solar segment of $15.8 million in Q2, down from $21.1 million Q/Q but up from $13.6 million.

Amtech’s total order backlog was $56 million, with solar attributing $41.1 million of that. This is up Q/Q from $48.3 million, with $37.5 solar.

In a conference call to announce the results, Amtech’s Bradley C. Anderson noted that the Asia Pacific region accounted for 68% of the company’s total revenue for the quarter. Anderson noted that while the solar equipment market has been historically “lumpy,” the company is upbeat in its outlook.

“The activity at the [SNEC] trade show in Shanghai was upbeat and there were a lot of promising discussions,” said Anderson. “Some customers come to an order quicker than others… but the opportunities continue to be there.” In terms of translating that interest and bookings into revenues, Anderson noted that it is largely customer specific.

Amtech CEO Fokko Pentinga said that the trend of Chinese manufacturers developing facilities outside of China was notable, with it validating the firm’s assumption of high demand from solar in the near future.

“The tone of the global market has changed considerably,” said Pentinga. “We expect in the coming quarters more manufacturers deciding on the positioning of their next factory. Such expansions and higher confidence will transition to new orders for us.”

Pentinga singled out PERC and n-type technology roll out as being a particular opportunity for Amtech.

Amtech reports that despite another quarterly loss, it has a strong cash position. CFO Anderson said that unrestricted cash and cash equivalents stand at $32.6 million, up from $28.6 million Y/Y. The company’s losses for Q2 2015 declined from $5.2 million Q/Q.

The integration of Dutch acquisition SoLayTec is progressing as planned.

The latest technology from Amtech companies SoLayTec and Tempress feature in pv magazine’s SNEC 50 Technology Highlights free digital publication.