Axcelis Technologies Inc (NASDAQ:ACLS) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 08:30 am ET


Axcelis Technologies Inc (NASDAQ:ACLS) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Axcelis Technologies call to discuss the Company's results for the second quarter 2020. My name is Kevin, and I'll be your coordinator for today. [Operator Instructions] I would now like to turn the presentation over to your host for today's call, Mary Puma, President and CEO of Axcelis Technologies. Please proceed, ma'am.

Mary G. Puma

Thank you, Kevin. With me today is Kevin Brewer, Executive Vice President and CFO; and Doug Lawson, Executive Vice President of Corporate Marketing and Strategy. We are all participating in this call remotely. So, I'd like to apologize in advance for any technical difficulties. If you have not seen a copy of our press release issued last night, it is available on our website. Playback service will also be available on our website as described in our press release.

Please note that comments made today about our expectations for future revenues, profits and other results are forward-looking statements under the SEC's Safe Harbor provision. Forward-looking statements are based on management's current expectations and are subject to the risks inherent in our business. These risks are described in detail in our Form 10-K annual report and other SEC filings, which we urge you to review. Our actual results may differ materially from our current expectations. We do not assume any obligation to update these forward-looking statements.

Good morning, and thank you for joining us. We have successfully completed our second quarter, while continuing to operate in the COVID-19 environment. We hope you and your families are healthy, especially as the virus has aggressively spread in many different regions of the world. At Axcelis, we are carefully managing the situation. Although we are dealing daily with this constantly changing environment, we remain laser focused on the strategic objectives outlined at our Investor Day last September.

During the second quarter, we realized two key milestones along the path to capturing market leadership in ion implantation and achieving our long-term business models. This involves shipping two new Purion product evaluations: our second Purion Dragon eval to a large memory customer for a DRAM application and the first Purion XEmax eval to a large image sensor customer. In the second half of 2020, Axcelis expects to ship additional evaluation systems of both Purion extensions and Purion-based products to customers for new applications. These evaluation systems will increase our footprint and enable our long-term business objectives.

While during a time like this, it can be difficult to deliver short-term commitments and stay focused on the future, the dedication and determination of our employees has made this possible. Maintaining their health and safety continues to be our top priority. So once again, I would like to personally give a heartfelt thank you to our extraordinary employees in the factory, in global field locations, and those at home in the US and around the world, who are working diligently to meet our customer commitments. I also want to thank our suppliers and customers for their support, as we