10-Q Filing

AXCELIS TECHNOLOGIES INC CIK: 1113232 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-037564`
Period End Date	20130331
Filing Date	20130506
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	acls-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 43 Cash Flow Statement 51 Comprehensive Income 7

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.22M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.44M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.99M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$23.15M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$24.84M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$98.73M	USD	Point-in-time
Inventories, net	`InventoryNet`	$100.23M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$106.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$103.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.52M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	108.29M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	108.41M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$169.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.28M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	108.17M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$175.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$33.66M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	120,000.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	120,000.00	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$34.41M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.52M	USD	Point-in-time
Total assets	`Assets`	$215.96M	USD	Point-in-time
Total assets	`Assets`	$222.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.79M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$8.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$7.28M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.54M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.70M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$3.11M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$278.00K	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$356.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$6.42M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.71M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.78M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$321.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$456.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.84M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$36.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.10M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 30,000 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 300,000 shares authorized; 108,405 shares issued and 108,285 shares outstanding at March 31, 2013;108,293 shares issued and 108,173 shares outstanding at December 31, 2012	`CommonStockValueOutstanding`	$108.00K	USD	Point-in-time
Common stock, $0.001 par value, 300,000 shares authorized; 108,405 shares issued and 108,285 shares outstanding at March 31, 2013;108,293 shares issued and 108,173 shares outstanding at December 31, 2012	`CommonStockValueOutstanding`	$108.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$505.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$504.64M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2013 and December 31, 2012	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-331.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-322.48M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$5.02M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.95M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$175.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$186.08M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$215.96M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$222.16M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$34.45M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$47.54M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$7.47M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$6.27M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$40.73M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$55.01M	USD	1 Quarter
Product	`CostOfGoodsSold`	$22.18M	USD	1 Quarter
Product	`CostOfGoodsSold`	$29.28M	USD	1 Quarter
Services	`CostOfServices`	$5.60M	USD	1 Quarter
Services	`CostOfServices`	$5.19M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$27.78M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$34.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.21M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.67M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.20M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.58M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.59M	USD	1 Quarter
Gain on sale of dry strip assets and intellectual property	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$368.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$2.88M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$1.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$28.93M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$22.43M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.40M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.49M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-924.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$829.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-915.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$832.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.31M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.65M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$333.00K	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$717.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.99M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.03M	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic and Diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Basic and diluted weighted average common shares (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	107.07M	shares	1 Quarter
Basic and diluted weighted average common shares (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	108.23M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.99M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.03M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.90M	USD	1 Quarter
Gain on sale of dry strip assets and intellectual property	`DisposalGroupNotDiscontinuedOperationGainLossOnDisposal`	$368.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$56.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$378.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$839.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.08M	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$248.00K	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$2.21M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.46M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.67M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.28M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$385.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$544.00K	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.04M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.16M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-843.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-3.82M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$76.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$84.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-6.48M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$549.00K	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.88M	USD	1 Quarter
Net cash used for operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-9.70M	USD	1 Quarter
Proceeds from sale of dry strip assets and intellectual property	`ProceedsFromSaleOfProductiveAssets`	$400.00K	USD	1 Quarter
Expenditures for property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$141.00K	USD	1 Quarter
Expenditures for property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$150.00K	USD	1 Quarter
(Increase) decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$3.00K	USD	1 Quarter
(Increase) decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-3.00K	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$253.00K	USD	1 Quarter
Net cash provided by (used for) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-144.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$802.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$49.00K	USD	1 Quarter
Proceeds from Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$175.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$49.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$977.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-968.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-795.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-9.66M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.54M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$37.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.44M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.88M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$46.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.99M	USD	Point-in-time

Comprehensive Income 7 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-8.99M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.03M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$56.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.08M	USD	1 Quarter
Amortization of actuarial losses from pension plan	`OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax`	$-8.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-11.06M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.97M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.