ACMR - ACM Research Updates 2023 Revenue Outlook and Provides Initial Outlook for 2024 Revenue | Benzinga
—Updates 2023 Revenue Outlook to $530 to $545 Million—
—Projected 2024 Revenue of $650 to $725 Million—
—ACM to Participate at Upcoming Conference and Event—
FREMONT, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. ("ACM") (NASDAQ:ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today has updated its full year 2023 revenue outlook to a range of $530 million to $545 million, versus a range of $520 million to $540 million as was provided in ACM's third quarter 2023 earnings release issued on November 7, 2023.
ACM also announced that it expects revenue for the full year 2024 to be in the range of $650 million to $725 million. This expectation is based on ACM management's current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors.
"We expect continued growth in 2024 as we continue on our mission to become a key supplier to major semiconductor manufacturers," said Dr. David Wang, ACM's President and Chief Executive Officer. "We anticipate solid investments in mature node capacity by our China-based ...