ACLS stock rose more then 4.6% in after-hours trading on February 7, 2022, after the company reported impressive EPS and revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... beats.
AXCELIS ANNOUNCES FINANCIAL RESULTS FOR FOURTH QUARTER AND FULL YEAR 2021
On February 7, 2022, Axcelis Technologies, Inc. (Nasdaq: ACLS) announced financial results for the fourth quarter and full year ended December 31, 2021. Axcelis reported Q4 EPS of $1.05 versus the consensus estimate of 84c. The company reported Q4 revenue of $205.7M versus the consensus estimate of $190.04M.
President and CEO Mary Puma commented, “2021 was an outstanding year for Axcelis. We delivered the highest annual revenue since we became an independent public company, and we surpassed our $650M revenue model two years ahead of plan. It is an exciting time with unprecedented growth in the industry and robust customer demand for our products in all market segments and geographies. As a result of the strength of demand in this environment, we expect to achieve a quarterly revenue run rate supporting our $850M revenue model this year.”
Executive Vice President and Chief Financial Officer Kevin Brewer said, “Axcelis’ fourth quarter and full year 2021 financial performance was exceptional thanks to the continued outstanding work of our employees and supply chain partners. For the full year 2021, operating profit increased almost 120% on a 40% increase in revenue, highlighting the significant leverage in our business model.”
For the first quarter ending March 31, 2022, Axcelis expects revenues of approximately $193 million. Gross margin in the first quarter is expected to be approximately 43%. First quarter operating profit is forecasted to be approximately $41 million with earnings per diluted share of approximately $0.92.
- Record full year revenue, operating profit and gross margin since becoming an independent public company in 2001, enabling the Company to surpass its $650M revenue model two years ahead of plan.
- Continued strong growth of the Purion Power Series™ product line, which accounted for 29% of our 2021 systems revenue.
- Closure of four Purion evaluation units in the fourth quarter and a total of six for the full year, which strengthens our position across all market segments.
- Expanded manufacturing capacity with the opening of the new Axcelis Asia Operations Center in Korea.
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📉 ACLS Stock Technical Analysis
The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer. ACLS is one of the better performing stocks in the Semiconductors & Semiconductor Equipment industry, it outperforms 95% of 107 stocks in the same industry. ACLS is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ACLS is lagging the market slightly.
There is a support zone ranging from 62.71 to 63.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. There is also a support zone ranging from 58.34 to 59.08. This zone is formed by a combination of multiple trend lines in multiple time frames. Finally, there is support at 57.29 from a horizontal line in the daily time frame.
There is a resistance zone ranging from 63.59 to 63.78. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
ACLS has only a medium technical rating, but it does show a decent setup pattern. ACLS stock has a Setup Rating of 6 out of 10. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 62.9. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 59.08, a Stop Loss order could be placed below this zone.