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ACM Research (NASDAQ: ACMR) eyes USD 650-725mn revenue in FY24
Image source: @Lukas/Pixabay
Highlights
ACM Research, Inc. (NASDAQ: ACMR), an American semiconductor firm, specializes in producing and selling single-wafer wet cleaning equipment used for enhancing product yield. Headquartered in the United States, the company primarily conducts its business operations in China via its subsidiary, ACM Research.
In the first quarter of FY24 (Q1FY24), ACMR reported a 105% surge in revenue compared to the prior corresponding period (pcp). It was driven by higher sales across various segments including single wafer cleaning and advanced packaging. The company’s income from continuing operations surged by around 146.5%, driven by increased sales. However, it was partially offset by increased total operating expenses. Likewise, the company’s cash and cash equivalents also increased by 16% in the quarter andgross margin for the quarter was 52.0%, slightly lower compared to 53.8% in the prior year.
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