10-Q Filing

AXCELIS TECHNOLOGIES INC CIK: 1113232 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001104659-15-034879`
Period End Date	20150331
Filing Date	20150506
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	acls-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 48 Cash Flow Statement 51 Comprehensive Income 10

Balance Sheet 79 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`	$30.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.29M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.04M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$67.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$825.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$42.79M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$42.75M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$109.53M	USD	Point-in-time
Inventories, net	`InventoryNet`	$104.06M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	113.63M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	112.85M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.49M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	112.73M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.51M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$234.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$185.13M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.46M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.20M	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
Other assets	`OtherAssetsNoncurrent`	$11.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.05M	USD	Point-in-time
Total assets	`Assets`	$276.16M	USD	Point-in-time
Total assets	`Assets`	$227.65M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.61M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$4.23M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.61M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.50M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.35M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.91M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$196.00K	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$322.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$8.25M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$6.78M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$14.53M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.40M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.10M	USD	Point-in-time
Sale leaseback obligation	`SaleLeasebackTransactionAmountDueUnderFinancingArrangement`	$47.59M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$409.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$449.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.52M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$6.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$104.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$59.30M	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; 113,633 shares issued and 113,513 shares outstanding at March 31, 2015; 112,849 shares issued and 112,729 shares outstanding at December 31, 2014	`CommonStockValueOutstanding`	$113.00K	USD	Point-in-time
Common stock, $0.001 par value, 300,000 shares authorized; 113,633 shares issued and 113,513 shares outstanding at March 31, 2015; 112,849 shares issued and 112,729 shares outstanding at December 31, 2014	`CommonStockValueOutstanding`	$114.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$519.07M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$521.11M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2015 and December 31, 2014	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2015 and December 31, 2014	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-349.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-350.89M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.28M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$285.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$171.27M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$168.35M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$276.16M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$227.65M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$55.02M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$67.53M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.83M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.75M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$60.84M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$73.28M	USD	1 Quarter
Product	`CostOfGoodsSold`	$33.80M	USD	1 Quarter
Product	`CostOfGoodsSold`	$45.19M	USD	1 Quarter
Services	`CostOfServices`	$5.30M	USD	1 Quarter
Services	`CostOfServices`	$4.72M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$49.90M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$39.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$21.74M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.26M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.20M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.48M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.63M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.10M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.48M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$10.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$200.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$21.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.94M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$326.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$251.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.04M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$292.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-433.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-1.47M	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$43.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.97M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$369.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$195.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$101.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$174.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.87M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	110.65M	shares	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	113.15M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	115.80M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.72M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$174.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$312.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$134.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.13M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$242.00K	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$59.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.63M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$355.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$52.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.96M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.08M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.25M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.02M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.47M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-614.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.46M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$61.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$132.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.30M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$422.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.96M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.74M	USD	1 Quarter
Expenditures for property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$320.00K	USD	1 Quarter
Expenditures for property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$227.00K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-320.00K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-227.00K	USD	1 Quarter
Decrease in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$758.00K	USD	1 Quarter
Financing fees and other expenses	`PaymentsOfFinancingCosts`	$847.00K	USD	1 Quarter
Principal payments on term loan	`RepaymentsOfLongTermDebt`	$14.53M	USD	1 Quarter
Principal payments on sale leaseback obligation	`RepaymentsOfSaleLeasebackTransaction`	$392.00K	USD	1 Quarter
Proceeds from sale leaseback obligation	`SaleLeasebackTransactionNetProceedsFinancingActivities`	$48.94M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.28M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$937.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.28M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.87M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$509.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-338.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$43.80M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.25M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$46.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.55M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$46.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.04M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$174.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.87M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-1.01M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-677.00K	USD	1 Quarter
Amortization of actuarial losses from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Amortization of actuarial losses from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-6.00K	USD	1 Quarter
Net current-period other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-991.00K	USD	1 Quarter
Net current-period other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-671.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$877.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-497.00K	USD	1 Quarter

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