ACM Research Awarded Significant Orders Totaling $14.9 million

ACM Research Inc (NASDAQ:ACMR), a provider of single-wafer wet cleaning equipment used by manufacturers of advanced semiconductors announced the receipt of multiple orders for wafer cleaning tools.

As quoted in the press release:

The orders represent approximately $14.9 million in total revenue from existing customers based in China.  The Company intends to ship all of the ordered tools in the second half of 2018, and anticipates acceptance and revenue recognition in 2018.

ACM’s President and Chief Executive Officer Dr. David Wang commented, “We are excited about the market momentum for our wafer cleaning technology. These follow-on orders once again demonstrate our capability of providing our customers with proven solutions to meet their ongoing needs and enhance their product yields and performance.”

Dr. Wang continued, “With the volume of all the equipment orders we have received so far, we are on track to reach our revenue target of $65 million for the year.  We remain committed to advancing toward our goal of becoming a global leader in our targeted segment of the semiconductor manufacturing equipment space.”

Click here for the text release.