Amtech Systems, Inc.

Good day and welcome to the Amtech Systems fiscal second quarter 2023 earnings conference call. Please note that this event is being recorded. I would now like to turn the call over to Erica Manden of Sapphire Investor Relations. Please go ahead.

Good afternoon and thank you for joining us for Amtech Systems fiscal second quarter 2023 conference call. With me today on the call are Michael Wang, Chief Executive Officer, Lisa Gibbs, Chief Financial Officer, and Paul Lancaster, Vice President of Sales and Customer Service. After close of market today, Amtech released its financial results for the fiscal second quarter of 2023. The earnings release is posted on the company's website at www.amtechsystems.com in the Investors section. Before we begin, I'd like to remind everyone that the Safe Harbor disclaimer and our public filings covers this call and our webcast. Some of the comments to be made during today's call will contain forward-looking statements and assumptions that are subject to risks and uncertainties, including but not limited to those contained in our SEC filings, all of which are posted within the investor section of our corporate website. The company assumes no obligation to update any such forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements which speak only as of today. These statements are not a guarantee of future performance and actual results could differ materially from current expectations. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are changes in the technologies used by customers and competitors, change in volatility and the demand for products, the effect of changing worldwide political and economic conditions including trade sanctions, the effect of overall market conditions, including the equity and credit markets and market acceptance risks, ongoing logistics, supply chain, and labor challenges, capital allocation plans, the worldwide COVID-19 pandemic, and our ability to effectively integrate our acquisition of Atropix, which we acquired in January 2023. Other risk factors are detailed in our SEC filings, including our Form 10-K and Forms 10-Q. Additionally, in today's conference call, we'll be referring to non-GAAP financial measures as we discuss the second quarter financial results. You'll find a reconciliation of these non-GAAP measures to our actual GAAP results, including the press release issued earlier today. Now, I would like to turn the call over to Michael Wang, Chief Executive Officer.

Thank you, Erica, and everyone for joining us today. The second quarter, we achieved $33.3 million in revenue, representing a year-over-year increase of 21%, inclusive of our recent acquisition of Entrepix. On an organic basis, revenue was roughly flat, as strong demand for our high-temperature belt furnaces for EV application and growth in our SIC consumables was offset by continued softness in the broader semi-industry. impacting our advanced packaging and SMT contribution in the short term. Overall, we remain excited about the long-term opportunities across all of our businesses. Within the semi division, while we are currently transitioning through a downturn in the spending cycle for our semi products, our competitive position in the industry remains strong, which create an opportunity to capture additional upside in the next investment cycle. Fortunately, we continue to experience strong demand for our high-temperature belt furnaces for EV applications. Moving on to the materials and substrate division, SIC remains a key demand driver as the industry gradually builds out wafering capacity to serve the immense opportunity ahead. Entrepix's cleaning equipment... Sorry about that.