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ACM RESEARCH ACM Research Reports Third Quarter 2021 Results FREMONT , Calif . , Nov. 04 , 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 third fiscal quarter ended September 30 , 2021 . ACM's President and Chief Executive Officer Dr. David Wang commented , " We delivered impressive third quarter results , with record revenue and shipments . Our results demonstrate the effectiveness of ACM's multi - product strategy , with solid growth from our flagship cleaning tools , and increased contribution from both electrochemical planting ( ECP ) and advanced packaging products . We are making great progress with major semiconductor manufacturers , with evaluation tool orders from three new potential customers . Despite industry- wide capacity constraints , our business momentum continues , and we have narrowed the range of our 2021 outlook accordingly . " Dr. Wang continued , " We are excited that our subsidiary ACM Research ( Shanghai ) , Inc. expects to be soon listed on the STAR Market . We remain confident that a successful STAR Market listing , combined with the listing of ACM's Class A common stock on the Nasdaq Global Market , will provide a strong foundation to accelerate our mission to become a global player in the semiconductor equipment industry . " Revenue Gross margin Income from operations Net income 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 Three Months Ended September 30 , GAAP Non - GAAP ( 1 ) 2021 2020 2021 2020 ( dollars in thousands , except per share data ) $ 67,013 $ 47,665 $ 67,013 $ 47,665 44.3 % 42.7 % EA EA EA EA $ 11,795 $ 7,506 $ 44.5 % 13,073 $ 42.8 % 10,285 $ 10,155 $ 8,627 $ 0.52 $ $ 0.46 $ $ 0.47 $ 0.40 $ 12,352 $ 8,969 0.64 $ 0.49 0.56 $ 0.42 Nine Months Ended September 30 , GAAP Non - GAAP ( 1 ) 2021 2020 2021 2020 ( dollars in thousands , except per share data ) $ 164,609 $ 111,062 $ 164,609 $ 111,062 42.2 % 45.0 % SSASASA $ 19,576 $ 16,060 $ 42.3 % 23,399 $ 45.1 % 20,383 $ 22,192 $ 10,251 $ $ 1.16 $ $ 1.02 $ 0.57 $ 0.48 $ 24,198 1.27 $ $ 17,568 0.97 1.11 $ 0.83 ( 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 , and non - GAAP net income attributable to ACM Research , Inc. and basic and diluted EPS also exclude non - cash changes in fair value of financial assets and liabilities and unrealized gain ( loss ) on trading securities . Outlook For fiscal year 2021 , the Company now expects revenue to be in the range of $ 230 million to $ 240 million , versus the previous guidance range of $ 225 million to $ 240 million . This expectation assumes , among other factors , stability 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 , management of ACM's supply chain , and the timing of acceptances for first tools under evaluation in the field . Third Quarter Operating Highlights and Recent Announcements Shipments . Total shipments in the third quarter of 2021 were $ 99 million , versus $ 59 million in the third quarter of 2020 and $ 82 million in the second quarter of 2021. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems to customers for evaluation and potential revenue in future quarters . SAPS Evaluation Tool Order . ACM received an evaluation tool order for its Ultra C SAPS frontside cleaning tool from a major global semiconductor manufacturer . The tool is expected to be installed for evaluation in the prospective customer's China - based development fab in the first quarter of 2022 . ECP Evaluation Tool Order . ACM Research received an evaluation tool order for its Ultra ECP map copper plating tool from a major Asia - based integrated circuit manufacturer . The tool is scheduled for delivery in early 2022 and is subject to technical qualification and other commercial terms . The tool is configured with ACM's Multi - Anode Partial Plating function , which allows the deposition of the copper metal layer on a dual - damascene structure for its advanced technology nodes . Tool Orders from Global IDM for WLP Wet Processing Tools . ACM received orders for two Ultra C pr wet stripping systems from a leading global integrated device manufacturer ( IDM ) . The IDM plans to deploy these in its advanced packaging manufacturing site in China for ease of use in photoresist ( PR ) removal in Wafer Level Packaging ( WLP ) applications . The first tool was delivered during in October of 2021 , and the second tool is scheduled to be delivered in the first quarter of 2022 . ECP Tool Orders for Wafer - Level Packaging from Compound Semiconductor Customers . The Ultra ECP GIII plating tool supports WLP for compound semiconductors , with product offerings for silicon carbide ( SiC ) , gallium nitride ( GaN ) and gallium arsenide ( GaAs ) . The tool is also capable of plating gold ( Au ) into backside deep hole processes with greater uniformity and better step coverage . The Company received two orders for the Ultra ECP GIII from China - based compound semiconductor manufacturers .