ACMR - ACM Research sees FY20 revenue above consensus; provides initial outlook for FY21 revenue

ACM Research (ACMR) is up 3.5% in after-hours, as it announced preliminary unaudited revenue for the FY20 to be in the range of $153M to $155M (+42% to +44%) vs. $150.92M consensus, reflecting upper end of the outlook range provided by the company.ACM projects revenue FY21 to be in the range of $205M to $230M vs. $206.08M consensus, representing annual growth of between 32% and 50%.“We anticipate solid growth from our top customers, incremental contribution from our two new analog customers, and significant growth from our newer Ultra C Tahoe, semi-critical cleaning tools, ECP ap, ECP map, ECP tsv and multiple types of furnace products. We continue to invest in new products, global sales and marketing, and production capacity to support our long-term growth objectives,” commented Dr. David Wang, President and CEO.“ACM Research warrants a long position in some ways, but the threat of having it all taken away by U.S. sanctions makes going long

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ACM Research sees FY20 revenue above consensus; provides initial outlook for FY21 revenue