2024 Q1 Form 10-Q Financial Statement

#000095017024013277 Filed on February 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $25.43M $24.92M $21.56M
YoY Change -23.65% 15.6% -18.54%
Cost Of Revenue $16.98M $15.85M $13.26M
YoY Change -14.41% 19.59% -19.98%
Gross Profit $8.451M $8.219M $8.303M
YoY Change -37.26% -1.01% -16.11%
Gross Profit Margin 33.23% 32.98% 38.51%
Selling, General & Admin $8.252M $8.567M $9.190M
YoY Change -27.83% -6.78% 29.69%
% of Gross Profit 97.65% 104.23% 110.68%
Research & Development $918.0K $1.585M $1.390M
YoY Change -39.33% 14.03% -11.58%
% of Gross Profit 10.86% 19.28% 16.74%
Depreciation & Amortization $720.0K $852.0K $388.0K
YoY Change -51.97% 119.59% -9.77%
% of Gross Profit 8.52% 10.37% 4.67%
Operating Expenses $8.252M $8.567M $9.190M
YoY Change -27.83% -6.78% 29.69%
Operating Profit $1.363M -$8.934M -$2.680M
YoY Change 162.62% 233.36% -316.13%
Interest Expense $193.0K $198.0K -$87.00K
YoY Change -168.93% -327.59% -13.0%
% of Operating Profit 14.16%
Other Income/Expense, Net $9.000K $0.00 -$68.00K
YoY Change -103.45% -100.0% -18.07%
Pretax Income $1.193M -$9.300M -$2.748M
YoY Change 362.4% 238.43% -337.51%
Income Tax $200.0K $58.00K -$4.000K
% Of Pretax Income 16.76%
Net Earnings $970.0K -$9.358M -$2.744M
YoY Change -69.73% 241.03% -375.23%
Net Earnings / Revenue 3.81% -37.55% -12.73%
Basic Earnings Per Share $0.07 -$0.66 -$0.20
Diluted Earnings Per Share $0.07 -$0.66 -$0.20
COMMON SHARES
Basic Shares Outstanding 14.19M 14.19M 14.00M
Diluted Shares Outstanding 14.21M 14.19M 14.01M

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.00M $17.03M $44.53M
YoY Change -26.69% -61.75% 38.36%
Cash & Equivalents $13.00M $17.03M $44.53M
Short-Term Investments
Other Short-Term Assets $4.304M $5.061M $4.890M
YoY Change -2.54% 3.5% 79.71%
Inventory $31.31M $34.03M $28.24M
Prepaid Expenses
Receivables $21.23M $21.40M $21.79M
Other Receivables $457.0K $664.0K $0.00
Total Short-Term Assets $70.30M $78.19M $99.45M
YoY Change -19.07% -21.37% 17.33%
LONG-TERM ASSETS
Property, Plant & Equipment $9.476M $9.353M $6.451M
YoY Change 8.42% 44.99% -53.14%
Goodwill $21.26M $21.26M $11.17M
YoY Change -27.33% 90.37% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.179M $1.044M $794.0K
YoY Change 12.72% 31.49% 27.24%
Total Long-Term Assets $46.18M $46.85M $30.09M
YoY Change -28.01% 55.69% -15.56%
TOTAL ASSETS
Total Short-Term Assets $70.30M $78.19M $99.45M
Total Long-Term Assets $46.18M $46.85M $30.09M
Total Assets $116.5M $125.0M $129.5M
YoY Change -22.87% -3.47% 7.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.741M $8.545M $6.835M
YoY Change -10.79% 25.02% -33.17%
Accrued Expenses $1.133M $1.461M $2.722M
YoY Change -59.75% -46.33% 283.92%
Deferred Revenue $9.015M $9.518M $6.955M
YoY Change -6.69% 36.85% 56.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.243M $934.0K $71.00K
YoY Change 92.69% 1215.49% -82.29%
Total Short-Term Liabilities $25.91M $26.19M $21.66M
YoY Change -9.6% 20.93% 7.08%
LONG-TERM LIABILITIES
Long-Term Debt $65.00K $9.197M $59.00K
YoY Change -99.32% 15488.14% -98.63%
Other Long-Term Liabilities $52.00K $49.00K $93.00K
YoY Change -53.15% -47.31% 132.5%
Total Long-Term Liabilities $52.00K $49.00K $93.00K
YoY Change -53.15% -47.31% -97.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.91M $26.19M $21.66M
Total Long-Term Liabilities $52.00K $49.00K $93.00K
Total Liabilities $35.58M $45.42M $33.30M
YoY Change -29.82% 36.4% -7.68%
SHAREHOLDERS EQUITY
Retained Earnings -$45.43M -$46.40M -$27.21M
YoY Change 89.28% 70.56% -32.81%
Common Stock $142.0K $142.0K $140.0K
YoY Change 1.43% 1.43% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $80.89M $79.62M $96.24M
YoY Change
Total Liabilities & Shareholders Equity $116.5M $125.0M $129.5M
YoY Change -22.87% -3.47% 7.59%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income $970.0K -$9.358M -$2.744M
YoY Change -69.73% 241.03% -375.23%
Depreciation, Depletion And Amortization $720.0K $852.0K $388.0K
YoY Change -51.97% 119.59% -9.77%
Cash From Operating Activities $336.0K $4.971M -$2.508M
YoY Change -111.92% -298.21% -200.76%
INVESTING ACTIVITIES
Capital Expenditures $1.220M $756.0K $224.0K
YoY Change 62.23% 237.5% 397.78%
Acquisitions
YoY Change
Other Investing Activities $2.700M
YoY Change -107.61%
Cash From Investing Activities $1.480M -$756.0K -$224.0K
YoY Change -104.08% 237.5% 397.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $556.0K $14.00K
YoY Change 3871.43% -85.57%
Cash From Financing Activities -5.857M -528.0K 20.00K
YoY Change -149.22% -2740.0% -100.73%
NET CHANGE
Cash From Operating Activities 336.0K 4.971M -2.508M
Cash From Investing Activities 1.480M -756.0K -224.0K
Cash From Financing Activities -5.857M -528.0K 20.00K
Net Change In Cash -4.041M 3.900M -2.340M
YoY Change -85.13% -266.67% 1818.03%
FREE CASH FLOW
Cash From Operating Activities $336.0K $4.971M -$2.508M
Capital Expenditures $1.220M $756.0K $224.0K
Free Cash Flow -$884.0K $4.215M -$2.732M
YoY Change -75.25% -254.28% -211.78%

Facts In Submission

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CY2023Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
269000
CY2022Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
416000
CY2023Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9089000
CY2022Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2328000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
98368000
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-2744000
CY2022Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
416000
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
164000
CY2022Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
34000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
96238000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
88365000
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-9358000
CY2023Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
269000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
317000
CY2023Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
28000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
79621000
CY2023Q4 us-gaap Profit Loss
ProfitLoss
-9358000
CY2022Q4 us-gaap Profit Loss
ProfitLoss
-2744000
CY2023Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
852000
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
388000
CY2023Q4 us-gaap Inventory Write Down
InventoryWriteDown
572000
CY2022Q4 us-gaap Inventory Write Down
InventoryWriteDown
48000
CY2023Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
6370000
CY2023Q4 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
1279000
CY2023Q4 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-25000
CY2022Q4 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-35000
CY2023Q4 us-gaap Share Based Compensation
ShareBasedCompensation
317000
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
164000
CY2023Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-20000
CY2023Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-42000
CY2022Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
35000
CY2023Q4 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5114000
CY2022Q4 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3194000
CY2023Q4 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-223000
CY2022Q4 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2796000
CY2023Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1783000
CY2022Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1106000
CY2023Q4 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1661000
CY2022Q4 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-643000
CY2023Q4 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-222000
CY2022Q4 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-284000
CY2023Q4 asys Increase Decrease In Accrued And Other Liabilities
IncreaseDecreaseInAccruedAndOtherLiabilities
-1751000
CY2022Q4 asys Increase Decrease In Accrued And Other Liabilities
IncreaseDecreaseInAccruedAndOtherLiabilities
-665000
CY2023Q4 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1500000
CY2022Q4 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-276000
CY2023Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4971000
CY2022Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2508000
CY2023Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
756000
CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
224000
CY2023Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-756000
CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-224000
CY2023Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
28000
CY2022Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
34000
CY2023Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
556000
CY2022Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
14000
CY2023Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-528000
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20000
CY2023Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213000
CY2022Q4 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
372000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3900000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2340000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13133000
CY2022Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
28000
CY2023Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-188000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46874000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17033000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44534000
CY2023Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
280000
CY2022Q4 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
378000
CY2023Q4 us-gaap Interest Paid Net
InterestPaidNet
195000
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
2000
CY2023Q4 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></p>
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
965000
CY2022Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
871000
CY2023Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
22000
CY2022Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
50000
CY2023Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
8000
CY2023Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8018000
CY2022Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7231000
CY2023Q4 asys Contract With Customer Liability New Deposits
ContractWithCustomerLiabilityNewDeposits
2823000
CY2022Q4 asys Contract With Customer Liability New Deposits
ContractWithCustomerLiabilityNewDeposits
727000
CY2023Q4 asys Contract With Customer Liability Deferred Revenue
ContractWithCustomerLiabilityDeferredRevenue
3000
CY2023Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1326000
CY2022Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
568000
CY2022Q4 asys Contract With Customer Liability Decrease In Adjustment
ContractWithCustomerLiabilityDecreaseInAdjustment
435000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
9518000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
6955000
CY2023Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
50000000
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
51800000
CY2023Q4 us-gaap Standard Product Warranty Description
StandardProductWarrantyDescription
A limited warranty is provided free of charge, generally for periods of 12 to 36 months to all purchasers of our new products and systems.
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
800000
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1000000
CY2022Q4 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-60000
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
791000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
833000
CY2023Q4 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of Credit Risk </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">– Our customers are primarily manufacturers of semiconductor substrates and devices and electronic assemblies. Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and trade accounts receivable. Credit risk is managed by performing credit evaluations of the customers’ financial condition, by requiring significant deposits where appropriate, and by actively monitoring collections. Letters of credit are required of certain customers depending on the size of the order, type of customer or its creditworthiness, and country of domicile.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of December 31, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, two Semiconductor segment customers individually represented </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">15</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable. As of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023, two Semiconductor segment customers individually represented </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">17</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">17</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of accounts receivable.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">We maintain our cash and cash equivalents in multiple financial institutions. Balances in the United States, which account for approximatel</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">y </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">80</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">56</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of total cash balances as of December 31, 2023 and September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively, are primarily invested in financial institutions insured by the </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="-sec-ix-hidden:F_4d8568f5-3c55-4039-a8a0-acfd49e8c9bb;"><span style="-sec-ix-hidden:F_e3ed8eb0-800c-42a4-a95b-e11fd93723bc;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">FDIC</span></span></span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> as well as a money market account. The remainder of our cash is maintained with financial institutions with reputable credit in China, the United Kingdom, Singapore, and Malaysia. We maintain cash in bank accounts in amounts which at times may exceed federally insured limits. We have not experienced any losses on such accounts.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Refer to Note 12 </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">to Condensed Consolidated Financial Statements for information regarding major customers, foreign sales and revenue in other countries subject to fluctuation in foreign currency exchange rates.</span></p>
CY2023Q4 asys Percentage Of Cash And Cash Equivalents In United States
PercentageOfCashAndCashEquivalentsInUnitedStates
0.80
CY2023 asys Percentage Of Cash And Cash Equivalents In United States
PercentageOfCashAndCashEquivalentsInUnitedStates
0.56
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
95000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
114000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
10131000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
10687000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
934000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2265000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
9197000
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
8422000
CY2023Q4 us-gaap Interest Expense Debt
InterestExpenseDebt
200000
CY2023Q4 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The Revolver has a floating per annum rate of interest equal to the Prime Rate, adjusted daily. Under the Loan Agreement, we are required to pay a non-utilization fee equal to 0.125% of any unused portion of the Revolver in excess of any letter of credit obligations.  The Term Loan and Revolver are secured by a first priority lien on substantially all of the Borrowers’ assets (other than certain customary excluded assets) and the Loan Agreement contains customary events of default, representations and warranties, and covenants that restrict the Borrowers’ ability to, among other things, incur additional indebtedness, other than permitted indebtedness, enter into mergers or acquisitions, sell or otherwise dispose of assets, or pay dividends, subject to customary exceptions. The Loan Agreement additionally contains financial covenants such that, as of the end of each of their fiscal quarters, beginning March 31, 2023, the Borrowers must maintain (i) a ratio of consolidated debt owed to Lender to consolidated EBITDA (as defined in the Loan Agreement) for such fiscal quarter, of not greater than 1.50 to 1.00, through December 31, 2024, based on a building four quarters (as described in the Loan Agreement), and then 1.00 to 1.00 each fiscal quarter thereafter, (ii) a ratio of (a) the total for such fiscal quarter of EBITDAR (as defined in the Loan Agreement) minus the sum of all income taxes paid in cash plus cash dividends/distributions plus maintenance Capital Expenditures (as defined in the Loan Agreement) plus management fees paid in cash, to (b) the sum for such fiscal quarter of (1) Interest Charges (as defined in the Loan Agreement) plus (2) required payments of principal on Debt (as defined in the Loan Agreement) (including the Term Loan, but excluding the Revolver) plus (3) operating lease/rent expense, of not less than 1.30 to 1.00 based on a building four quarters (as described in the Loan Agreement), and (iii) a consolidated working capital of current assets (excluding related party receivables and prepaid expenses) minus current liabilities of at least $35.0 million
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11217000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
110000
CY2023Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
123000
CY2023Q4 asys Lease Right Of Use Asset
LeaseRightOfUseAsset
10651000
CY2023Q3 asys Lease Right Of Use Asset
LeaseRightOfUseAsset
11340000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-9358000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-2744000
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14188000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14008000
CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14188000
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14008000
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2023Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
22083000
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
22627000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
9848000
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
7774000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2099000
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4444000
CY2023Q4 us-gaap Inventory Net
InventoryNet
34030000
CY2023Q3 us-gaap Inventory Net
InventoryNet
34845000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10541000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
11000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due Year Three
OperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
1118000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1115000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due Year Four
OperatingAndFinanceLeaseLiabilityPaymentsDueYearFour
1117000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2292000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2623000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
49000
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
64000
CY2023Q4 asys Finance And Operating Lease Liability Current
FinanceAndOperatingLeaseLiabilityCurrent
2341000
CY2023Q3 asys Finance And Operating Lease Liability Current
FinanceAndOperatingLeaseLiabilityCurrent
2687000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8598000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8894000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
46000
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
50000
CY2023Q4 asys Finance And Operating Lease Liability Noncurrent
FinanceAndOperatingLeaseLiabilityNoncurrent
8644000
CY2023Q3 asys Finance And Operating Lease Liability Noncurrent
FinanceAndOperatingLeaseLiabilityNoncurrent
8944000
CY2023Q4 asys Lease Liability
LeaseLiability
10985000
CY2023Q3 asys Lease Liability
LeaseLiability
11631000
CY2023Q4 us-gaap Lease Cost
LeaseCost
973000
CY2022Q4 us-gaap Lease Cost
LeaseCost
668000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2317000
CY2023Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
47000
CY2023Q4 asys Operating And Finance Lease Liability Payments Remainder Of Fiscal Year
OperatingAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2364000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2060000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
21000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due Next Twelve Months
OperatingAndFinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2081000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1726000
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
21000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due Year Two
OperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
1747000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1107000
CY2023Q4 asys Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
5146000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due After Year Four
OperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
5146000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13471000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
102000
CY2023Q4 asys Operating And Finance Lease Liability Payments Due
OperatingAndFinanceLeaseLiabilityPaymentsDue
13573000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2581000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
7000
CY2023Q4 asys Operating And Finance Lease Liabilities Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilitiesUndiscountedExcessAmount
2588000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
10890000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
95000
CY2023Q4 asys Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
10985000
CY2023Q4 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Operating lease payments include $2.3 million related to options to extend lease terms that are reasonably certain of being exercised.
CY2023Q4 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2023Q4 asys Lessee Payments In Optional Extension Periods
LesseePaymentsInOptionalExtensionPeriods
2300000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M13D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M21D
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M10D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M14D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0555
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0503
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0491
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16088000
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
16088000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5094000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4785000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4526000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6114000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
410000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
546000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
546000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
546000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
519000
CY2023Q4 asys Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
1959000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4526000
CY2023Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
CY2022Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2023Q3 us-gaap Goodwill Gross
GoodwillGross
27631000
CY2023Q3 us-gaap Goodwill
Goodwill
27631000
CY2023Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
6370000
CY2023Q4 us-gaap Goodwill
Goodwill
21261000
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
27631000
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
6370000
CY2023Q4 us-gaap Goodwill
Goodwill
21261000
CY2023Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.006
CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.001
CY2023Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
58000
CY2022Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4000
CY2023Q4 us-gaap Share Based Compensation
ShareBasedCompensation
300000
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
200000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.56
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.56
CY2023Q4 us-gaap Purchase Obligation
PurchaseObligation
19700000
CY2023Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2023Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
24920000
CY2022Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
21558000
CY2023Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-8934000
CY2022Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-2680000
CY2023Q4 us-gaap Assets
Assets
125042000
CY2023Q3 us-gaap Assets
Assets
137021000
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 asys Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2023Q4 asys Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false

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