Axcelis Technologies Inc. (NASDAQ:ACLS) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Mary Puma - President and CEO

Kevin Brewer - Executive Vice President and CFO

Doug Lawson - Executive Vice President of Corporate Marketing and Strategy

Conference Call Participants

Patrick Ho - Stifel

Christian Schwab - Craig-Hallum

Craig Ellis - B. Riley

Tom Diffely - D.A. Davidson

Quinn Bolton - Needham

Mark Miller - Benchmark

Operator

Good day, ladies and gentlemen, and welcome to the Axcelis Technologies call to discuss the company's results for the Second Quarter of 2022. My name is Chamberlin, and I will be your coordinator for today. [Operator Instructions]

I would 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 Puma

Thank you, Chamberlin. 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 would like to apologize in advance for any technical difficulties. If you have not seen a copy of our press release issued yesterday, 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. These 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 for our second quarter earnings call. Business continues to be robust for Axcelis, especially highly implant intensive mature process technology segment. In the second quarter, 84% of system shipments and 95% of system bookings came from this segment. Automotive and Industrial applications are extremely strong as evidenced by the growing strength in our power -- strength in power devices.

We recently posted a new presentation on our website on this exciting market opportunity. We remain focused on customer satisfaction with on-time shipment and installation, a key metric. To date, despite the challenging supply chain and logistics environment, solid execution by the full Axcelis team has allowed us to keep up with this high level of customer demand, meet shipment and installation dates and maintain levels of customer satisfaction. I would like to thank our dedicated employees once again for delivering these results under these challenging conditions. As a result of this demand and our strong execution, our second quarter financial performance was well above our guidance.