Axcelis Technologies, Inc. (NASDAQ:ACLS) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET

Company Participants

David Ryzhik - Senior Vice President of Investor Relations and Corporate Strategy
Russell Low - President and Chief Executive Officer
James Coogan - Executive Vice President and Chief Financial Officer

Conference Call Participants

Craig Ellis - B. Riley Securities
Jack Egan - Charter Equity Research
Ross Cole - Needham and Company LLC
Tom Diffely - D.A. Davidson & Co
Christian Schwab - Craig-Hallum Capital
David Duley - Steelhead Securities

Operator

Good day, ladies and gentlemen, and welcome to the Axcelis Technologies’ Call to discuss the Company’s Results for the Third Quarter 2024.

My name is Karen [ph], and I will be your coordinator for today. I would now like to turn the presentation over to your host for today’s call, David Ryzhik, Senior Vice President of Investor Relations and Corporate Strategy. Please go ahead.

David Ryzhik

Thank you, operator. This is David Ryzhik, Senior Vice President of Investor Relations and Corporate Strategy. And, with me today is Russell Low, President and CEO; and Jamie Coogan, Executive Vice President and CFO.

If you have not seen a copy of our press release issued yesterday, it is available on our website. In addition, we have prepared slides accompanying today’s call, and you can find those on our website as well.

Please note that included in our slide presentation is a table summarizing our correction to our historical backlog numbers, which Jamie will discuss in his prepared remarks. 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.

Now, I’ll turn the call over to President and CEO, Russell Low.

Russell Low

Good morning, and thank you for joining us for our third quarter 2024 earnings call. Beginning on Slide 3, we executed well in the third quarter, delivering revenue of $257 million and earnings per diluted share of $1.49. Overall revenue was largely in line with our expectations as a strong sequential increase in revenue from our image sensor market offset a sequential decline in our power and general mature markets.