$ACLS
AXCELIS TECHNOLOGIES INC

2012 Q4 Form 10-Q Financial Statement

#000110465912074161 Filed on November 05, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $44.62M $44.64M $60.41M
YoY Change -26.13% -38.39% -35.32%
Cost Of Revenue $44.10M $30.27M $37.80M
YoY Change 16.67% -33.55% -38.93%
Gross Profit $480.0K $14.37M $22.62M
YoY Change -97.88% -46.58% -28.18%
Gross Profit Margin 1.08% 32.18% 37.45%
Selling, General & Admin $13.50M $11.80M $11.80M
YoY Change 14.41% -24.85% -27.61%
% of Gross Profit 2812.5% 82.1% 52.16%
Research & Development $8.400M $9.851M $12.10M
YoY Change -30.58% -13.5% 10.0%
% of Gross Profit 1750.0% 68.57% 53.49%
Depreciation & Amortization $1.460M $1.790M $2.320M
YoY Change -37.07% -17.51% 38.1%
% of Gross Profit 304.17% 12.46% 10.26%
Operating Expenses $21.90M $22.22M $23.90M
YoY Change -8.37% -17.94% -12.45%
Operating Profit -$21.42M -$7.857M -$1.277M
YoY Change 1577.37% 4057.14% -130.4%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$500.0K -$618.0K $300.0K
YoY Change -266.67% -139.36% -115.79%
Pretax Income -$14.60M -$8.475M -$900.0K
YoY Change 1522.22% -713.69% -139.13%
Income Tax $200.0K $243.0K $1.200M
% Of Pretax Income
Net Earnings -$14.80M -$8.700M -$2.100M
YoY Change 604.76% -825.0% -148.84%
Net Earnings / Revenue -33.17% -19.49% -3.48%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$548.1K -$0.08 -$78.95K
COMMON SHARES
Basic Shares Outstanding 107.9M shares 107.9M shares 106.5M shares
Diluted Shares Outstanding 107.9M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $45.00M $35.20M $46.90M
YoY Change -4.05% -20.72% 2.63%
Cash & Equivalents $44.99M $35.22M $46.88M
Short-Term Investments
Other Short-Term Assets $5.200M $5.000M $10.10M
YoY Change -48.51% -46.81% -33.99%
Inventory $100.2M $123.3M $120.0M
Prepaid Expenses
Receivables $24.84M $24.98M $35.07M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $175.2M $188.5M $212.0M
YoY Change -17.36% -12.59% -7.26%
LONG-TERM ASSETS
Property, Plant & Equipment $34.41M $35.11M $37.20M
YoY Change -7.5% -7.37% -3.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.52M $12.93M $19.90M
YoY Change -37.1% -32.67% 46.99%
Total Long-Term Assets $46.93M $48.14M $57.21M
YoY Change -17.97% -15.65% 9.51%
TOTAL ASSETS
Total Short-Term Assets $175.2M $188.5M $212.0M
Total Long-Term Assets $46.93M $48.14M $57.21M
Total Assets $222.2M $236.6M $269.2M
YoY Change -17.49% -13.23% -4.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.17M $11.68M $19.55M
YoY Change -48.0% -33.99% -46.74%
Accrued Expenses $7.300M $7.200M $8.300M
YoY Change -12.05% -45.45% -21.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $29.78M $31.67M $47.47M
YoY Change -37.26% -36.17% -30.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.844M $4.944M $5.730M
YoY Change 1.99% -32.27% 20.4%
Total Long-Term Liabilities $5.844M $4.944M $5.730M
YoY Change 1.99% -32.27% 20.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.78M $31.67M $47.47M
Total Long-Term Liabilities $5.844M $4.944M $5.730M
Total Liabilities $36.08M $37.16M $54.69M
YoY Change -34.02% -34.69% -24.97%
SHAREHOLDERS EQUITY
Retained Earnings -$322.5M -$307.7M -$288.4M
YoY Change 11.8% -1.73%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.218M $1.218M $1.218M
YoY Change 0.0% 0.0%
Treasury Stock Shares 120.0K shares 120.0K shares
Shareholders Equity $186.1M $199.4M $214.6M
YoY Change
Total Liabilities & Shareholders Equity $222.2M $236.6M $269.2M
YoY Change -17.49% -13.23% -4.14%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income -$14.80M -$8.700M -$2.100M
YoY Change 604.76% -825.0% -148.84%
Depreciation, Depletion And Amortization $1.460M $1.790M $2.320M
YoY Change -37.07% -17.51% 38.1%
Cash From Operating Activities $770.0K $1.200M $2.680M
YoY Change -71.27% -86.53% -135.83%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$150.0K -$170.0K
YoY Change -70.59% -79.17% -73.44%
Acquisitions
YoY Change
Other Investing Activities $8.710M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $8.660M -$160.0K -$170.0K
YoY Change -5194.12% -77.46% -105.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 260.0K 10.00K 240.0K
YoY Change 8.33% -66.67% -70.37%
NET CHANGE
Cash From Operating Activities 770.0K 1.200M 2.680M
Cash From Investing Activities 8.660M -160.0K -170.0K
Cash From Financing Activities 260.0K 10.00K 240.0K
Net Change In Cash 9.690M 1.050M 2.750M
YoY Change 252.36% -87.24% -174.73%
FREE CASH FLOW
Cash From Operating Activities $770.0K $1.200M $2.680M
Capital Expenditures -$50.00K -$150.0K -$170.0K
Free Cash Flow $820.0K $1.350M $2.850M
YoY Change -71.23% -85.98% -141.67%

Facts In Submission

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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Note&#160;10.&#160;&#160;Contingencies</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Litigation</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company is, from time to time, a party to litigation that arises in the normal course of its business operations.&#160; The Company is not presently a party to any litigation that it believes might have a material adverse effect on its business operations.</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt"><b><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">Indemnifications</font></b></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p> <p style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">The Company&#8217;s system sales agreements typically include provisions under which the Company agrees to defend its customers against third-party claims of intellectual property infringement under specified conditions and to indemnify customers against any damage and costs awarded in connection with such claims. The Company has not incurred any material costs as a result of such indemnifications and has not accrued any liabilities related to such obligations in the accompanying consolidated financial statements.</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" size="2">&#160;</font></p></td></tr></table>
dei Entity Registrant Name
EntityRegistrantName
AXCELIS TECHNOLOGIES INC
dei Entity Central Index Key
EntityCentralIndexKey
0001113232
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
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dei Entity Filer Category
EntityFilerCategory
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dei Document Fiscal Year Focus
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dei Document Fiscal Period Focus
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CY2012Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
536000 USD
us-gaap Severance Costs
SeveranceCosts
-3612000 USD
us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
3117000 USD
us-gaap Restructuring Reserve Settled Without Cash
RestructuringReserveSettledWithoutCash
130000 USD
acls Product Warranty Period
ProductWarrantyPeriod
P1Y
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3697000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2713000 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2162000 USD
CY2011Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3829000 USD
us-gaap Cost Of Services
CostOfServices
16377000 USD
us-gaap Gross Profit
GrossProfit
57691000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31999000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
18284000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2170000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3910000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2550000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4179000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-1155000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1385000 USD
CY2012Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2107000 USD
CY2011Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
3639000 USD
CY2012Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
55000 USD
CY2011Q3 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
190000 USD
CY2012Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2011Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2012Q3 us-gaap Restructuring Charges
RestructuringCharges
578000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
9000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-627000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-8475000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
243000 USD
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
136096000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
22664000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
84692000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20611000 USD
us-gaap Restructuring Charges
RestructuringCharges
3612000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
27000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-999000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-17787000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.18
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.07
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1105000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35220000 USD
CY2012Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
24978000 USD
CY2012Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4973000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
35107000 USD
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
103000 USD
CY2012Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
12928000 USD
CY2012Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
11683000 USD
CY2012Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7175000 USD
CY2012Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
356000 USD
CY2012Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
6641000 USD
CY2012Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3711000 USD
CY2012Q3 us-gaap Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
544000 USD
CY2012Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4944000 USD
CY2012Q3 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
108000 USD
CY2012Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
503728000 USD
CY2012Q3 us-gaap Treasury Stock Value
TreasuryStockValue
1218000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-307659000 USD
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
4469000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5419000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
998000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3411000 USD
us-gaap Inventory Write Down
InventoryWriteDown
678000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-10143000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3496000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4490000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-11601000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5089000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-135000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3025000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
536000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
863000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
179000 USD
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1010304 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1508168 shares
CY2012Q3 us-gaap Inventory Write Down
InventoryWriteDown
-1100000 USD
CY2012Q3 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-900000 USD

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