FREMONT, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today reported financial results for its third quarter ended September 30, 2024.

"I am pleased to report another strong quarter for ACM, with record revenue and shipments, good profitability, and positive cash flow from operations," said ACM’s President and Chief Executive Officer, Dr. David Wang. "We believe our results demonstrate ACM’s role as an innovator, delivering world-class tools that drive value for our customers and strengthen our position in the global market. Tahoe is gaining momentum with multiple logic and memory customers in production. This tool now delivers the same advanced cleaning performance as single-wafer tools, and at the same time up to 75% reduction of sulfuric acid use. We also believe the unique approach of our new panel products – including the Ultra ECP ap-p Horizontal Plating tool, the Ultra C vac-p Flux Cleaning tool, and the Ultra C bev-p Bevel Etching Tool – position ACM to become a significant contributor to the global adoption of AI chip manufacturing.”

Dr. Wang continued, "Looking ahead, we anticipate continued growth of our business in mainland China through market share gains and new product ramps. We have begun initial operations at our Lingang facility, and we remain committed to support major customers in the US, Europe, and Southeast Asia. Our near-term outlook has improved, and as a result, we have raised our 2024 revenue outlook."