BEVERLY,
Mass., March 12, 2025 /PRNewswire/ -- Axcelis
Technologies, Inc. (Nasdaq: ACLS) a leading supplier of enabling
ion implantation solutions for the semiconductor industry,
announced today that its Board of Directors has approved an
additional $100 million in share
repurchase authorization. This approval brings the current
outstanding repurchase authorization to $215
million.
"Axcelis has maintained a strong cash position supported by
solid execution over the past several years. This increased share
repurchase authorization reflects our confidence in the attractive
long-term fundamentals of our business. We intend to use this
authorization to increase the quarterly level of our share
repurchase activity going forward, while continuing to maintain a
strong balance sheet," said Russell
Low, President and Chief Executive Officer.
Any decision to repurchase shares will be subject to market
conditions and other factors, including legal and regulatory
restrictions and required approvals, up to the aggregate amount
authorized by the Board. Repurchases of the Company's common stock
may be made from time to time under the SEC's Rule 10b-18. These shares may be purchased in the open
market or through privately negotiated transactions. The Company
may from time to time enter into Rule 10b5-1 trading plans to
facilitate the repurchase of its common stock pursuant to its share
repurchase program. The Company has no obligation to repurchase
shares under the authorization. The Company may suspend or
discontinue the repurchase program at any time.
Safe Harbor Statement
Statements made in this press release that are not of known
historical fact are forward-looking statements and are subject to
the safe harbor provisions created by the Private Securities
Litigation Reform Act of 1995. These statements, which include our
plans to execute a share repurchase program, are based on
management's current expectations and should be viewed with
caution. They are subject to various risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements, including the continuing strength of
our financial position and ability to make share repurchases, as
well as the other risks and uncertainties that are described in the
documents filed or furnished by us with the Securities and Exchange
Commission, including specifically the risk factors described in
our annual report on Form 10-K for the fiscal year ended
December 31, 2024. The Company
undertakes no obligation to update the information or statements
made in this press release.
About Axcelis:
Axcelis (Nasdaq: ACLS), headquartered
in Beverly, Mass., has been
providing innovative, high-productivity solutions for the
semiconductor industry for over 45 years. Axcelis is dedicated to
developing enabling process applications through the design,
manufacture and complete life cycle support of ion implantation
systems, one of the most critical and enabling steps in the IC
manufacturing process. Learn more about Axcelis at
www.axcelis.com.
CONTACTS:
Investor Relations Contact:
David Ryzhik
Senior Vice President, Investor Relations and Corporate
Strategy
Telephone: (978) 787-2352
Email: David.Ryzhik@axcelis.com
Press/Media Relations Contact:
Maureen Hart
Senior Director, Corporate & Marketing Communications
Telephone: (978) 787-4266
Email: Maureen.Hart@axcelis.com
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SOURCE Axcelis Technologies, Inc.
