ACM Research reports Q4 adjusted EPS 19c, consensus 14c

Reports Q4 revenue $108.54M, consensus $97.12M. "2022 marks another year of progress on our mission to become a major supplier to the global semiconductor industry," said ACM’s President and CEO, Dr. David Wang. "We delivered solid growth amidst COVID-related restrictions, supply-chain disruptions, and increased trade regulations. We believe that the pandemic is largely behind us, and we have returned to more normal operations. Our results demonstrate the strength of ACM’s multi-product portfolio and our expanding customer base. We took share with our core cleaning products, more than doubled our revenue from ECP tools, and are achieving good traction with our furnace products. We also entered two new product categories with the introduction of the Ultra PmaxTM PECVD and Ultra LithTM Track Coater/Developer tools, which we believe doubles our served addressable market. The evaluation of two cleaning tools at the U.S. facility of a major U.S.-based semiconductor manufacturer is going well, and we are pleased to announce an order for an evaluation tool to a major potential customer in Europe for delivery later this year. As we look ahead to 2023, we expect another year of growth driven by continued share gains, new products and new customers. We are on track to begin initial production at our new facility in Lingang, Shanghai in the second half of 2023, and we plan to increase our investments in Korea to support our international growth initiatives."