Amtech Systems Inc. (NASDAQ:ASYS)’s shares declines by 2.98%
Northern, WI 05/21/2013 (gdpwatch) – The share prices of Amtech Systems Inc. (NASDAQ:ASYS) had been continually rising following the company’s announcement of the present quarter results. The share prices declined by 2.98% and currently trading at $4.37. The trading volume of Amtech Systems Inc. (NASDAQ:ASYS) during the session had more than tripled its average trading volume to reach 145,389 shares of the company.
Amtech Systems Inc. (NASDAQ:ASYS) is involved in the supply of production and automation systems and other related component parts for the manufacture of solar cells, semiconductors and silicon and sapphire wafers. For the second quarter of fiscal year 2013, the company had registered net loss of $2.1 million which gets translated into $0.22 loss per share for the shareholders. As put forth by the Chief Executive Officer of Amtech Systems Inc. (NASDAQ:ASYS), Fokko Pentinga, the quarterly results of the company reflects the challenging and difficult environment in which the firm is presently functioning.
Continued unfavorable market conditions in the solar industry and decreased level of activity in the semiconductor industry contributed to the decreased net revenue of $8.1 million for this quarter. This was remarkably less than the net revenue of $9.4 million for the first quarter of 2012 and less than $21.6 million for the second quarter of 2012.
Owing to such unfavorable conditions in the economy and industry, Amtech Systems Inc. (NASDAQ:ASYS) had taken effective actions to reduce the costs of its operations to the minimum possible extent.