10-Q Filing

AXCELIS TECHNOLOGIES INC CIK: 1113232 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001104659-16-118129`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	acls-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 48 Cash Flow Statement 60 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`	$74.55M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$78.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.57M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$36.87M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$47.47M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$115.90M	USD	Point-in-time
Inventories, net	`InventoryNet`	$115.17M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.11M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.79M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$236.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.36M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	116.10M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$236.31M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.00M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	115.98M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	116.24M	shares	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
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$6.86M	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$6.94M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.86M	USD	Point-in-time
Total assets	`Assets`	$288.28M	USD	Point-in-time
Total assets	`Assets`	$293.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.70M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$8.48M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$9.06M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$3.36M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$3.29M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$1.91M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$143.00K	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$177.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$7.86M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$8.12M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.09M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$44.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.91M	USD	Point-in-time
Sale leaseback obligation	`PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions`	$47.59M	USD	Point-in-time
Sale leaseback obligation	`PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions`	$47.59M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$679.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$667.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.85M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.39M	USD	Point-in-time
Total liabilities	`Liabilities`	$99.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$98.02M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`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; 116,357 shares issued and 116,237 shares outstanding at March 31, 2016; 116,101 shares issued and 115,981 shares outstanding at December 31, 2015	`CommonStockValueOutstanding`	$116.00K	USD	Point-in-time
Common stock, $0.001 par value, 300,000 shares authorized; 116,357 shares issued and 116,237 shares outstanding at March 31, 2016; 116,101 shares issued and 115,981 shares outstanding at December 31, 2015	`CommonStockValueOutstanding`	$116.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$529.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$530.03M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Treasury stock, at cost, 120 shares at March 31, 2016 and December 31, 2015	`TreasuryStockValue`	$1.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-334.26M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-336.21M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.43M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-356.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$190.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$194.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$288.28M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$293.33M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$62.17M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$67.53M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.35M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.75M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$73.28M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$67.52M	USD	1 Quarter
Product	`CostOfGoodsSold`	$45.19M	USD	1 Quarter
Product	`CostOfGoodsSold`	$40.26M	USD	1 Quarter
Services	`CostOfServices`	$4.72M	USD	1 Quarter
Services	`CostOfServices`	$3.84M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$44.10M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$49.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.38M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.64M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.20M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.96M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.63M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.10M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$10.00K	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$282.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$20.92M	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`	$2.50M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$54.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.05M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.04M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-59.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-433.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-1.05M	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-1.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.97M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.44M	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$101.00K	USD	1 Quarter
Income tax (benefit) provision	`IncomeTaxExpenseBenefit`	$-504.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.87M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	113.15M	shares	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	116.15M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.72M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	122.08M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.14M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$918.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-50.00K	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`	$838.00K	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$242.00K	USD	1 Quarter
Provision for excess inventory	`InventoryWriteDown`	$549.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.29M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$355.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.14M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.96M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.22M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.08M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.47M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.08M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.46M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$226.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$30.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$132.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$422.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.36M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.18M	USD	1 Quarter
Net cash (used in) provided by 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`	$1.27M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.27M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-320.00K	USD	1 Quarter
Decrease in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$758.00K	USD	1 Quarter
Decrease in restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$73.00K	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`	$937.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$194.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.87M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$267.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-127.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$509.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.32M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$43.80M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.75M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$78.89M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$67.57M	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`	$30.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$78.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$67.57M	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`	$30.75M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$78.89M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$67.57M	USD	Point-in-time
Restricted cash at end of period	`RestrictedCashAndCashEquivalents`	$67.00K	USD	Point-in-time
Restricted cash at end of period	`RestrictedCashAndCashEquivalents`	$6.86M	USD	Point-in-time
Total cash, cash equivalents and restricted cash at end of year	`CashRestrictedCashAndCashEquivalents`	$74.43M	USD	Point-in-time
Total cash, cash equivalents and restricted cash at end of year	`CashRestrictedCashAndCashEquivalents`	$74.61M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	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`	$1.05M	USD	1 Quarter
Amortization of actuarial losses from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-19.00K	USD	1 Quarter
Amortization of actuarial losses from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-26.00K	USD	1 Quarter
Net current-period other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-991.00K	USD	1 Quarter
Net current-period other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$1.07M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.02M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$877.00K	USD	1 Quarter

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