ACM Research Updates 2023 Revenue Outlook and Provides Initial Outlook for 2024 Revenue
January 09 2024 - 5:00AM
ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of
wafer processing solutions for semiconductor and advanced
wafer-level packaging applications, today has updated its full year
2023 revenue outlook to a range of $530 million to $545 million,
versus a range of $520 million to $540 million as was provided in
ACM’s third quarter 2023 earnings release issued on November 7,
2023.
ACM also announced that it expects revenue for the full year
2024 to be in the range of $650 million to $725 million. This
expectation is based on ACM management’s current assessment of the
continuing impact from international trade policy, together with
various expected spending scenarios of key customers, supply chain
constraints, and the timing of acceptances for first tools under
evaluation in the field, among other factors.
“We expect continued growth in 2024 as we continue on our
mission to become a key supplier to major semiconductor
manufacturers,” said Dr. David Wang, ACM’s President and Chief
Executive Officer. “We anticipate solid investments in mature node
capacity by our China-based customers, and we remain committed to
expanding our multi-product portfolio. We are making good progress
with customers in markets beyond mainland China which we believe
will begin to contribute to our business in the coming years.”
ACM plans to release its fourth quarter and full year 2023
financial results in late February 2024. The 2023 revenue outlook
included in this press release is preliminary. Actual fourth
quarter and full year 2023 revenue results are subject to review
and audit procedures by ACM’s independent registered public
accounting firm.
Upcoming Conferences and Events
ACM will be participating in a virtual investor group meeting
hosted by UBS on January 10, 2024 (China time) and virtual 1x1
meetings on January 16, 2024 (U.S. time) at the 26th 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. ACM 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. For more information, visit
www.acmrcsh.com.
Forward-Looking Statements
Certain statements contained in this press release are not
historical facts and may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as “plans,” “expects,” “believes,” “anticipates,”
“designed,” and similar words are intended to identify
forward-looking statements. 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. A description
of certain of these risks, uncertainties and other matters can be
found in filings ACM makes with the U.S. Securities and Exchange
Commission, all of which are available at www.sec.gov. Because
forward-looking statements involve risks and uncertainties, actual
results and events may differ materially from results and events
currently expected by ACM. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. 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. The ACM Research logo is trademark of ACM
Research, Inc. For convenience, this trademark appears in this
press release without a ™ symbol, but that practice does not mean
that ACM will not assert, to the fullest extent under applicable
law, its rights to such trademark.
For investor and media inquiries, please
contact:
In the United
States: |
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The Blueshirt
Group |
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Yujia Zhai |
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+1 (860) 214-0809 |
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yujia@blueshirtgroup.com |
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In China: |
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The Blueshirt Group Asia |
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Gary Dvorchak, CFA |
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gary@blueshirtgroup.com |
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