Amtech Systems, Inc. Reports Impairment Charges for the First Quarter Ended December 31, 2023
February 10, 2024 at 02:35 am IST
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Amtech Systems, Inc. reported impairment charges for the first quarter ended December 31, 2023. For the quarter, the company reported goodwill impairment of $6,370,000 and intangible asset impairment of $1,279,000.
Amtech Systems, Inc. is a manufacturer of thermal processing, wafer cleaning and chemical mechanical polishing (CMP) capital equipment and related consumables used in semiconductor, advanced mobility and renewable energy manufacturing applications. The Company's segments include semiconductor, and material and substrate. The semiconductor segment is engaged in the supply of thermal processing equipment, including solder reflow ovens, horizontal diffusion furnaces, and custom high-temp belt furnaces for use by semiconductor, electronics and electro/mechanical assembly manufacturers. The material and substrate segment is engaged in the production of wafer cleaning equipment as well as substrate consumables and chemicals for lapping (fine abrading) and polishing of materials, such as silicon wafers for semiconductor products, sapphire wafers for light-emitting diode (LED) applications, and compound substrates, like silicon carbide (SiC) wafers, for power device applications.