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ACM RESEARCH ACM Research Reports Second Quarter 2021 Results FREMONT , Calif . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- ACM Research , Inc. ( " ACM " or the " Company " ) ( NASDAQ : ACMR ) , a leading supplier of wafer cleaning technologies for advanced semiconductor devices , today reported financial results for its second fiscal quarter ended June 30 , 2021 . ACM's President and Chief Executive Officer Dr. David Wang commented , " We delivered an outstanding second quarter , with record revenue and shipments driven by broad demand for our flagship cleaning products and newer product offerings . We experienced good contributions from a number of new China - based semiconductor customers in the first half of 2021 , which we expect to grow in the second half of the year and beyond . Our Chuansha capacity expansion plan remains on schedule , with the second building expected to ramp production in the second half of this year . We have raised our full - year 2021 revenue guidance , which , at the mid - point , now represents 48 % growth over last year . " Dr. Wang continued , " Looking ahead , we believe we are well positioned for solid growth , with our two major new product initiatives expected to expand our total addressable market . On June 10 , 2021 , the Shanghai Stock Exchange Commission submitted ACM Shanghai's application for registration of its STAR Market IPO to the China Securities Regulatory Commission , a significant milestone in the process . We are confident that the STAR Market listing , combined with the continued listing of ACM's Class A common stock on the Nasdaq Global Market , will help accelerate our pace to become a global player in the semiconductor equipment industry . " Revenue Gross margin Income from operations Net income ( loss ) attributable to ACM Research , Inc. Basic EPS Diluted EPS Revenue Gross margin Income from operations Net income attributable to ACM Research , Inc. Basic EPS Diluted EPS $ $ LA LA LA LA $ LA LA LA LA $ $ $ 2021 Three Months Ended June 30 , GAAP 40.5 % 2020 2021 ( dollars in thousands , except per share data ) 39,049 $ 53,864 $ 49.6 % 7,336 $ ( 81 ) $ ( 0.00 ) $ ( 0.00 ) $ 53,864 $ 40.2 % 4,331 $ 6,567 $ 0.34 $ 0.30 $ 5,666 $ 4,119 $ 0.22 $ 0.19 $ 2021 Non - GAAP ( 1 ) Six Months Ended June 30 , GAAP D 2021 2020 ( dollars in thousands , except per share data ) 97,596 $ 40.7 % 7,781 $ 12,037 $ 63,397 $ 46.7 % 8,554 $ 97,596 $ 40.9 % 10,326 $ 1,624 $ 11,846 $ 0.63 $ 0.09 $ 0.62 $ 0.56 $ 0.08 $ 0.55 $ 2020 39,049 Non - GAAP ( 1 ) 49.7 % 8,191 6,205 0.34 0.29 2020 63,397 46.8 % 10,098 8,599 0.48 0.41 ( 1 ) Reconciliations to U.S. generally accepted accounting principles ( " GAAP " ) financial measures from non - GAAP financial measures are presented below under " Reconciliation of GAAP to Non - GAAP Financial Measures . " Non - GAAP financial measures exclude stock - based compensation with respect to net income ( loss ) attributable to ACM Research , Inc. and basic and diluted EPS , and also exclude non - cash changes in fair value of financial assets and liabilities and unrealized gain on trading securities . Outlook For fiscal year 2021 , the Company now expects revenue to be in the range of $ 225 million to $ 240 million , versus the previous guidance range of $ 205 million to $ 230 million . This expectation assumes , among other factors , continued improvement with respect to the global COVID - 19 pandemic and stability in US - China trade policy . The range of ACM's 2021 outlook reflects , among other things , variances in spending scenarios for the production ramps of key customers , the trajectory of the DRAM recovery , and the timing of acceptances for first tools under evaluation in the field . Q2 Operating Highlights and Recent Announcements Shipments . Total shipments in the second quarter of 2021 were $ 82 million , versus $ 45 million in the second quarter of 2020 and $ 74 million in the first quarter of 2021. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters . | ECP Ramp . ACM continued to gain solid traction with its ECP product line in the marketplace . ACM's ECP ramp is progressing , with three ECP ap first tools delivered during the second quarter of 2021 and multiple ECP map and ECP ap tools scheduled for delivery in the second half of 2021 . Production Capacity . ACM Shanghai increased the total available floor space at its newly - leased second Chuansha factory building to 200,000 square feet , and expects to begin its initial production ramp at that facility in the third quarter of 2021 . | Bevel Etch Product . The new Bevel Etch product further expands ACM's comprehensive offering of wet tools . The new product uses a wet etch method to remove various types of dielectric , metal and organic material films , as well as particle contaminants on the wafer edge . We expect to deliver a first - tool Bevel Etch product to a China - based logic customer in the third quarter of 2021 . I ACM Shanghai IPO . On June 10 , 2021 , the Shanghai Stock Exchange Commission submitted ACM Shanghai's application for registration for its STAR Market IPO to the China Securities Regulatory Commission . The timing and successful completion of the STAR Market IPO and listing are subject to the acceptance of the registration application by the China Securities Regulatory Commission , and remains uncertain as it depends upon numerous factors beyond ACM Shanghai's control .