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Amtech Systems fiscal Q1 loss narrows YOY

Amtech Systems Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 16 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 32 cents per share.

The per-share loss decreased 50.3% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.2 million, compared with a loss of $3.3 million in the year-earlier period.

The normalized profit margin increased to negative 9.8% from negative 26.3% in the year-earlier period.

Total revenue rose 78.1% year over year to $22.1 million from $12.4 million, and total operating expenses grew 51.3% on an annual basis to $26.0 million from $17.2 million.

Reported net income came to a loss of $4.1 million, or a loss of 31 cents per share, compared to a loss of $5.2 million, or a loss of 53 cents per share, in the year-earlier period.