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Axcelis Technologies - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Axcelis Technologies (ISIN: US0545402085, WKN: A2AM8Z) Kursdatum: 27.07.2017 Kurs: 22,900 USD
Beschreibung Daten
Symbol ACLS
Marktkapitalisierung 708.686.272,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Technology
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2016-07-01 - 1:4 |
Internet
Letztes Bilanz Update 14.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 27.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
-62,69 -80,54 0,00% 3,69 66,66 63,61 2,65 3,52

Firmenbeschreibung

 

 

 

 

 

Note 20. Quarterly Results of Operations (unaudited)

 

 

                                                                                                                                                                                    

 

 

 

 

 

 

 

 

 

 

 

 

 

Dec. 31,2015(1)

 

 

 

 

 

 

 

Sept. 30,2015(2)

 

 

 

 

 

 

 

June 30,2015(3)

 

 

 

 

 

 

 

March 31,2015

 

 

 

 

 

 

 

Dec. 31,2014(4)

 

 

 

 

 

 

 

Sept. 30,2014(5)

 

 

 

 

 

 

 

June 30,2014(6)

 

 

 

 

 

 

 

March 31,2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands, except per share data)

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

$

 

70,458

 

 

 

 

 

 

 

$

 

79,317

 

 

 

 

 

 

 

$

 

78,437

 

 

 

 

 

 

 

$

 

73,283

 

 

 

 

 

 

 

$

 

62,530

 

 

 

 

 

 

 

$

 

38,531

 

 

 

 

 

 

 

$

 

41,150

 

 

 

 

 

 

 

$

 

60,840

 

 

 

 

 

 

 

 

 

Gross profit

 

 

 

 

 

 

 

 

 

21,973

 

 

 

 

 

 

 

 

 

29,179

 

 

 

 

 

 

 

 

 

27,174

 

 

 

 

 

 

 

 

 

23,380

 

 

 

 

 

 

 

 

 

18,796

 

 

 

 

 

 

 

 

 

15,144

 

 

 

 

 

 

 

 

 

14,484

 

 

 

 

 

 

 

 

 

21,740

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 

 

 

 

 

 

 

826

 

 

 

 

 

 

 

 

 

6,101

 

 

 

 

 

 

 

 

 

5,883

 

 

 

 

 

 

 

 

 

1,868

 

 

 

 

 

 

 

 

 

164

 

 

 

 

 

 

 

 

 

(4,704

 

 

 

)

 

 

 

 

 

(6,900

 

 

 

)

 

 

 

 

 

174

 

 

 

 

 

 

 

 

 

Net income (loss) per basic share

 

 

 

 

 

 

 

$

 

0.01

 

 

 

 

 

 

 

$

 

0.05

 

 

 

 

 

 

 

$

 

0.05

 

 

 

 

 

 

 

$

 

0.02

 

 

 

 

 

 

 

$

 

0.00

 

 

 

 

 

 

 

$

 

(0.04

 

 

 

)

 

 

 

$

 

(0.06

 

 

 

)

 

 

 

$

 

0.00

 

 

 

 

 

 

 

 

 

Net income (loss) per diluted share

 

 

 

 

 

 

 

$

 

0.01

 

 

 

 

 

 

 

$

 

0.05

 

 

 

 

 

 

 

$

 

0.05

 

 

 

 

 

 

 

$

 

0.02

 

 

 

 

 

 

 

$

 

0.00

 

 

 

 

 

 

 

$

 

(0.04

 

 

 

)

 

 

 

$

 

(0.06

 

 

 

)

 

 

 

$

 

0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)          

 

 

 

Net income includes a $0.8 million charge to inventory reserves, $0.8 million variable incentive plan expense and $1.5 million of revenue for fully written down inventory sold in quarter.

 

 

 

 

 

(2)          

 

 

 

Net income includes a $0.3 million charge to inventory reserves and $2.2 million variable incentive plan expense.

 

 

 

 

 

(3)          

 

 

 

Net income includes a $0.3 million charge to inventory reserves, $1.1 million stock-based compensation acceleration and $2.3 million of revenue for fully written down inventory sold in quarter.

 

 

 

 

 

(4)          

 

 

 

Net income includes a $0.8 million charge to inventory reserves.

 

 

 

 

 

(5)          

 

 

 

Net loss includes a $0.8 million charge to inventory reserves and a $2.3 million restructuring charge.

 

 

 

 

 

(6)          

 

 

 

Net loss includes a $0.2 million charge to inventory reserves and a $0.1 million restructuring charge.

 

 

 

 

 

 

 

Firmenstrategie

RevenueRecognitionPolicyTextBlock

 

 

 

(i)    Revenue Recognition

        The Company's revenue recognition policy involves significant judgment by management. As described below, the Company considers a broad array of facts and circumstances in determining when to recognize revenue, including contractual obligations to the customer, the complexity of the customer's post-delivery acceptance provisions, payment history, customer creditworthiness and the installation process. In the future, if the post-delivery acceptance provisions and installation process become more complex or result in a materially lower rate of acceptance, the Company may have to revise its revenue recognition policy, which could delay the timing of revenue recognition.

        The Company's system sales transactions are made up of multiple elements, including the system itself and elements that are not delivered simultaneously with the system. These undelivered elements might include a combination of installation services, extended warranty and support and spare parts, all of which are covered generally by a single sales price.

        The Company's system revenue arrangements with multiple elements are divided into separate units of accounting if specified criteria are met, including whether the delivered element has stand-alone value to the customer. If the criteria are met, then the consideration received is allocated among the separate units based on their relative selling price, and the revenue is recognized separately for each of the separate units.

        The Company determines selling price for each unit of accounting (element) using vendor specific objective evidence (VSOE) or third-party evidence (TPE), if they exist, otherwise, the Company uses best estimated selling price (BESP). The Company generally expects that it will not be able to establish TPE due to the nature of its products, and, as such, the Company typically will determine selling price using VSOE or BESP.

        Where required, the Company determines BESP for an individual element based on consideration of both market and Company-specific factors, including the selling price and profit margin for similar products, the cost to produce the deliverable and the anticipated margin on that deliverable and the characteristics of the varying markets in which the deliverable is sold.

        Systems are not sold separately and VSOE or TPE is not available for the systems element. Therefore the selling price associated with systems is based on BESP. The allocated value for installation in the arrangement includes the greater of (i) the relative selling price of the installation or (ii) the portion of the sales price that will not be received until the installation is completed (the "retention"). The selling price of elements such as extended warranty for support, spare parts and support labor is also based on BESP. For the majority of regions, the selling price of installation is based upon the fair value of the service performed, including labor, which is based upon the estimated time to complete the installation at hourly rates, and material components, both of which are sold separately, or VSOE. In regions where VSOE does not exist the Company uses BESP.

        Product revenue for products which have demonstrated market acceptance, is generally recognized upon shipment provided title and risk of loss has passed to the customer, evidence of an arrangement exists, prices are contractually fixed or determinable, collectability is reasonably assured through historical collection results and regular credit evaluations, and there are no uncertainties regarding customer acceptance. Revenue from installation services is recognized at the time acceptance has occurred, as defined in the sales documentation or, for certain customers, when both acceptance has occurred and retention payment has been received. Revenue for other elements is recognized at the time products are shipped or the related services are performed.

        The Company generally recognizes revenue for systems which have demonstrated market acceptance at the time of shipment because the customer's post-delivery acceptance provisions and installation process have been established to be routine, commercially inconsequential and perfunctory. The Company believes the risk of failure to complete a system installation is remote.

        For initial shipments of systems with new technologies or in the small number of instances where the Company is unsure of meeting the customer's specifications or obtaining customer acceptance upon shipment of the system, it will defer the recognition of systems revenue and related costs until written customer acceptance of the system is obtained. This deferral period is generally within twelve months of shipment.

        Revenue related to maintenance and service contracts is recognized ratably over the duration of the contracts, or based on parts usage, where appropriate. Revenue related to service hours is recognized when the services are performed.

        Product revenue includes revenue from system sales, sales of spare parts, the spare parts component of maintenance and service contracts and product upgrades. Services revenue includes the labor component of maintenance and service contract amounts charged for on-site service personnel.

        Axcelis reports revenue net of any taxes collected from customers and remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.

 

 

SegmentReportingDisclosureTextBlock

 

 

 

Note 18. Business Segment and Geographic Region Information

        The Company operates in one business segment, which is the manufacture of capital equipment for the semiconductor manufacturing industry. The principal market for semiconductor manufacturing equipment is semiconductor manufacturers. Substantially all sales are made directly by the Company to its customers located in the United States, Europe and Asia Pacific.

        The Company's ion implantation systems product line includes high current, medium current and high energy implanters. Other products include legacy dry strip equipment, curing systems, and thermal processing systems. In addition to new equipment, the Company provides post-sales equipment service and support, including spare parts, equipment upgrades, used equipment, maintenance services and customer training.

        Revenue by product lines is as follows:

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

Years ended December 31,

 
 

 

 
 

 

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

 

 
 

2013

 
 

 

 
 

 

 
 

 

 
 

(in thousands)

 
 

 

 
 

Ion implantation systems, services, and royalties

 
 

 

 
 

$

 
282,624  
 

 

 
 

$

 
183,148  
 

 

 
 

$

 
164,030  
 

 

 
 

Other systems and services

 
 

 

 
 

 

 
18,871  
 

 

 
 

 

 
19,903  
 

 

 
 

 

 
31,602  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

$

 
301,495  
 

 

 
 

$

 
203,051  
 

 

 
 

$

 
195,632  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 

        Revenue and long-lived assets by geographic region, based on the physical location of the operation recording the sale or the asset, are as follows:

                                                                                                                                                                                    

 

EarningsPerSharePolicyTextBlock

 

 

 

(m)  Computation of Net Income (Loss) per Share

        Basic earnings per share is computed by dividing income available to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. The computation of diluted earnings per share is similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common shares had been issued, calculated using the treasury stock method.

        The Company incurred net losses for the years ended December 31, 2014 and 2013, and has excluded 4,663,421 and 3,547,578 of incremental shares, respectively, attributable to outstanding stock options, restricted stock and restricted stock units from the calculation of net loss per share because the effect would have been anti-dilutive.

        The components of net income (loss) per share are as follows:

                                                                                                                                                                                    

 

 

 

 
 

 

 
 

Revenue

 
 

 

 
 

Long-Lived
Assets

 
 

 

 
 

 

 
 

 

 
 

(in thousands)

 
 

 

 
 

2015

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

United States

 
 

 

 
 

$

 
226,890  
 

 

 
 

$

 
41,729  
 

 

 
 

Europe

 
 

 

 
 

 

 
24,209  
 

 

 
 

 

 
 

 
 

 

 
 

Asia Pacific

 
 

 

 
 

 

 
50,396  
 

 

 
 

 

 
334  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

$

 
301,495  
 

 

 
 

$

 
42,063  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

2014

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

United States

 
 

 

 
 

$

 
126,255  
 

 

 
 

$

 
40,001  
 

 

 
 

Europe

 
 

 

 
 

 

 
29,140  
 

 

 
 

 

 
 

 
 

 

 
 

Asia Pacific

 
 

 

 
 

 

 
47,656  
 

 

 
 

 

 
299  
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 

 
 

 

 
 

$

 
203,051  
 

 

 
 

$

 
 

 

 
 

 

 
 

Years Ended December 31,

 
 

 

 
 

 

 
 

 

 
 

2015

 
 

 

 
 

2014

 
 

 

 
 

2013

 
 

 

 
 

 

 
 

 

 
 

(in thousands, except per share data)

 
 

 

 
 

Net income (loss) available to common stockholders

 
 

 

 
 

$

 
14,678 
 

 

 
 

$

 
(11,266 
 

)

 
 

$

 
(17,144 
 

)

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Weighted average common shares outstanding used in computing basic net income (loss) per share

 
 

 

 
 

 

 
114,378 
 

 

 
 

 

 
111,450 
 

 

 
 

 

 
108,869 
 

 

 
 

Incremental shares

 
 

 

 
 

 

 
6,538 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Weighted average common shares outstanding used in computing diluted net income (loss) per share

 
 

 

 
 

 

 
120,916 
 

 

 
 

 

 
111,450 
 

 

 
 

 

 
108,869 
 

 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

​  

 
 

​  

 
 

 
 

Net income (loss) per share

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

 

 
 

$

 
0.13 
 

 

 
 

$

 
(0.10 
 

)

 
 

$

 
(0.16 
 

)

 
 

Diluted

 
 

 

 
 

$

 
0.12 
 

 

 
 

$

 
(0.10 
 

)

 
 

$

 
(0.16 
 

)