Axcelis Updates Guidance for Second Quarter 2019
Summary
Kevin Brewer, executive vice president and CFO said, "We have begun taking additional steps to reduce expenses through a variety of programs and remain focused on margin improvement through cost out and investment in new product extensions. Our cash position remains sound and we have started buying back stock as part of our $35 million share repurchase program. The call will be available to interested listeners via an audio webcast that can be accessed through the Investors page of Axcelis website at www.axcelis.com, or by dialing 866.588.8911 (707.294.1561 outside North America). They are subject to various risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are outside the control of the Company, including that customer decisions to place orders or our product shipments may not occur when we expect, that orders may not be converted to revenue in any particular quarter, or at all, whether demand will continue for the semiconductor equipment we produce or, if not, whether we can successfully meet changing market requirements, and whether we will be able to maintain continuity of business relationships with and purchases by major customers. Increased competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and instability caused by changing global economic, political or financial conditions could also cause actual results to differ materially from those in our forward-looking statements.