ACM Research Announces Preliminary 2021 Revenue, Shipments, and Initial Outlook for 2022 Revenue
05 January 2022 - 8:05AM
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 2021 is expected to
be in the range of $255 million to $260 million. This would
represent annual growth of 63% to 66% and would be above the
high-end of the guidance range provided in ACM’s third quarter 2021
earnings release issued on November 4, 2021. Furthermore, ACM
anticipates its preliminary total shipments for the full year 2021
to be in the range of $365 million to $370 million. This would
represent annual growth of 101% to 103%.
ACM also announced that it expects revenue for the full year
2022 to be in the range of $345 million to $385 million, which
would represent annual growth of 33% to 51%. This expectation
assumes, among other factors, stability with respect to the global
COVID-19 pandemic and US-China trade policy. The range of ACM’s
2022 outlook reflects, among other things, various spending
scenarios for the production ramps of key customers, the absence of
unexpected disruptions in ACM’s supply chain, and the timing of
acceptances for first tools under evaluation in the field.
“We expect another year of strong growth in 2022 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 contributions from new customers and
continued ramps in newer products, including our
Ultra C Tahoe, ECP map, ECP ap, and Ultra Furnace
products. We intend to support our long-term growth objectives by
introducing innovative new products and expanding our existing
product offering, which we project will result in a meaningful
increase in our R&D intensity to more than 17% of revenue in
2022.”
ACM plans to release its fourth quarter and full year 2021
financial results, including total shipments, in late February
2022. The 2021 results included in this press release are
preliminary. Actual fourth quarter and full year 2021 results are
subject to the completion of ACM’s year-end financial closing
procedures, and full year 2021 revenue results are subject to
review and audit procedures by ACM’s independent registered public
accounting firm.
Total shipments include deliveries for revenue in the quarter
and deliveries of first tool systems to customers for evaluation
and potential revenue in future quarters. This financial measure is
not based on any standardized methodologies prescribed by
accounting principles generally accepted in the United States and
is not necessarily comparable to similarly titled measures
presented by other companies.
As previously announced, ACM will be holding virtual meetings
with investors on January 5-7, 2022 (China time) at the Credit
Suisse 2022 Greater China Technology and Internet Virtual
Conference and on January 13, 2022 (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 2021 revenue and total shipments, statements
in the second paragraph with respect to projected 2022 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, adding additional production capacity and engaging
additional major customers; ACM may incur significant expenses long
before it can recognize revenue from new products, if at all, due
to the costs and length of research, development, manufacturing and
customer evaluation process cycles; 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, including its
inability to hire, train, integrate and manage additional qualified
engineers for research and development activities; 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 non-U.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 GroupYujia Zhai+1 (860)
214-0809yujia@blueshirtgroup.com |
|
|
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In China: |
|
The Blueshirt Group AsiaGary Dvorchak,
CFAgary@blueshirtgroup.com |
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