10-Q Filing

AXCELIS TECHNOLOGIES INC CIK: 1113232 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-003608`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	acls-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 47 Cash Flow Statement 48 Comprehensive Income 10

Balance Sheet 70 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`	$70.79M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.57M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.43M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$67.08M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$50.57M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$113.85M	USD	Point-in-time
Inventories, net	`InventoryNet`	$115.64M	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`	$5.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$7.94M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$260.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$240.73M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.52M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$30.84M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$31.49M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.52M	shares	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$6.86M	USD	Point-in-time
Long-term restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$6.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.25M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$23.80M	USD	Point-in-time
Total assets	`Assets`	$302.23M	USD	Point-in-time
Total assets	`Assets`	$322.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.43M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.92M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$5.14M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$2.43M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$2.75M	USD	Point-in-time
Warranty	`ProductWarrantyAccrualClassifiedCurrent`	$3.29M	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$240.00K	USD	Point-in-time
Income taxes	`AccruedIncomeTaxesCurrent`	$252.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$12.18M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$10.34M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$5.31M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$4.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.73M	USD	Point-in-time
Sale leaseback obligation	`PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions`	$47.59M	USD	Point-in-time
Sale leaseback obligation	`PresentValueOfFutureMinimumLeasePaymentsSaleLeasebackTransactions`	$47.68M	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$942.00K	USD	Point-in-time
Long-term deferred revenue	`DeferredRevenueNoncurrent`	$674.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.91M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$100.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$106.36M	USD	Point-in-time
Common stock, $0.001 par value, 75,000 shares authorized; 29,995 shares issued and outstanding at March 31, 2017; 29,518 shares issued and outstanding at December 31, 2016	`CommonStockValueOutstanding`	$30.00K	USD	Point-in-time
Common stock, $0.001 par value, 75,000 shares authorized; 29,995 shares issued and outstanding at March 31, 2017; 29,518 shares issued and outstanding at December 31, 2016	`CommonStockValueOutstanding`	$30.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$535.41M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$538.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-331.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-322.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-336.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.28M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$216.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$201.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$322.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$302.23M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$62.17M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$81.98M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$4.92M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.35M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$86.89M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$67.52M	USD	1 Quarter
Product	`CostOfGoodsSold`	$40.26M	USD	1 Quarter
Product	`CostOfGoodsSold`	$46.80M	USD	1 Quarter
Services	`CostOfServices`	$3.84M	USD	1 Quarter
Services	`CostOfServices`	$5.38M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$44.10M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$52.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$34.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$23.42M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.64M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$9.89M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$7.05M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.06M	USD	1 Quarter
Restructuring charges	`RestructuringCharges`	$282.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$20.92M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.71M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$54.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$69.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.11M	USD	1 Quarter
Interest expense	`InterestExpense`	$1.05M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-59.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-154.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.05M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.44M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.52M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$11.00K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-504.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.51M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	29.04M	shares	1 Quarter
Basic weighted average common shares	`WeightedAverageNumberOfSharesOutstandingBasic`	29.77M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.52M	shares	1 Quarter
Diluted weighted average common shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.26M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.51M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$918.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-22.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-50.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$838.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.07M	USD	1 Quarter
Provision for excess and obsolete inventory	`InventoryWriteDown`	$578.00K	USD	1 Quarter
Provision for excess and obsolete inventory	`InventoryWriteDown`	$549.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$16.18M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.29M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$844.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.14M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.21M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.35M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.08M	USD	1 Quarter
Accounts payable and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.05M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$226.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$2.08M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$30.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$749.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.36M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-10.18M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.67M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.27M	USD	1 Quarter
Expenditures for property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.12M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.27M	USD	1 Quarter
Net settlement on restricted stock grants	`PaymentsForNetSettlementOnRestrictedStockGrants`	$-286.00K	USD	1 Quarter
Net settlement on restricted stock grants	`PaymentsForNetSettlementOnRestrictedStockGrants`	$-2.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.53M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$194.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$192.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.25M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$105.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-127.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsAndRestrictedCashPeriodIncreaseDecrease`	$-1.43M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsAndRestrictedCashPeriodIncreaseDecrease`	$-11.39M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCash`	$76.22M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCash`	$85.83M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCash`	$74.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndRestrictedCash`	$77.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCash`	$76.22M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCash`	$85.83M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCash`	$74.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndRestrictedCash`	$77.66M	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.51M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.95M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.92M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.05M	USD	1 Quarter
Amortization of actuarial gains/losses and other adjustments from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-26.00K	USD	1 Quarter
Amortization of actuarial gains/losses and other adjustments from pension plan	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-28.00K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.07M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$1.94M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.45M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.02M	USD	1 Quarter

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