TEMPE, Ariz. - Amtech Systems , Inc. (NASDAQ: NASDAQ:ASYS), a global manufacturer of semiconductor fabrication and packaging equipment with a market capitalization of approximately $76 million, today announced the addition of Asif Y. Jakwani to its Board of Directors. According to InvestingPro data, while the company currently operates with moderate debt levels, it maintains strong liquidity with current assets exceeding short-term obligations.
Jakwani’s appointment follows his tenure at On Semiconductor Corporation, where he served as Senior Vice President and General Manager of the Advanced Power Division until March 2024. With a career spanning seventeen years at Onsemi, he managed the company’s power discrete and modules, including silicon carbide (SiC) technologies. His previous roles included marketing and design engineering positions at Tyco Electronics Power Systems and Current Technology, Inc., part of Danaher Corporation (NYSE:DHR).
Amtech’s Chief Executive Officer, Mr. Bob Daigle, expressed confidence in Jakwani’s appointment, citing his "extensive expertise in power semiconductors" and "deep technical background." Daigle anticipates that Jakwani’s "strategic business acumen" will contribute significantly to Amtech’s growth strategy. This appointment comes at a crucial time as InvestingPro analysis indicates analysts expect the company to return to profitability this year, despite posting losses in the last twelve months.
Jakwani, who holds an Electrical Engineering degree from Lamar University, a Master’s in Electrical Engineering from the University of Texas at Austin, and an MBA from the University of Texas at Dallas, shared his enthusiasm for joining Amtech’s Board. He is eager to assist in steering the company’s strategic initiatives, particularly in the expanding power semiconductor sector.
Amtech Systems, recognized for brands such as BTU International, Entrepix, Inc., PR Hoffman, and Intersurface Dynamics, Inc., serves semiconductor device and module manufacturers globally, with a focus on Asia, North America, and Europe. The company specializes in thermal and substrate processing equipment and services, targeting growth opportunities that leverage its core competencies. With annual revenue of $101 million and a gross profit margin of nearly 37%, detailed financial analysis and additional insights are available through the comprehensive Pro Research Report on InvestingPro, which covers over 1,400 US equities.
This announcement is based on a press release statement from Amtech Systems, Inc.
In other recent news, Amtech Systems has announced significant developments. The company recently appointed Asif Y. Jakwani to its Board of Directors, with Jakwani bringing a wealth of experience from his tenure at Onsemi and other companies. This appointment comes as analysts forecast a return to profitability for Amtech Systems in the coming year. In terms of earnings and revenue, the company exceeded revenue expectations in its fourth-quarter earnings for fiscal year 2024, reporting a total of $24.1 million against a forecast of $23.75 million. Despite a GAAP net loss of $500,000, Amtech Systems generated an adjusted EBITDA profit of $4 million and paid off $4 million in debt, achieving a debt-free status. The company also anticipates $2 million in
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