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| Statement |
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| We have delivered more than 70 auto bench tools today and note a very strong contribution in 2023 with good profitability |
| We expect the first quarter shipment to be much higher than the fourth quarter levels, even with a normal Chinese New Year shutdown, and we expect total shipments to grow faster than revenue for the full year 2024 |
| I'm pleased with our fourth quarter results, which conclude a strong year |
| So it's a very good opportunity |
| We are confident that the proprietary architecture of our Track tool is well suited for the high throughput required in next-generation of lithography tools |
| Profitability was good for both the fourth quarter and full year with operating margin of 21% and 22% respectively |
| And it's great customer and we're happy with our -- I said, you know, our auto bench tool be largely deployed and investigate the production line |
| For Tahoe, we made a good progress during the year |
| And looking forward, I think also we are very good relation and engagement with them in copper plating, our furnace and also online |
| I'm pleased to report ACM has been qualified for mass production at several customers and we expect a strong ramp with good orders for delivery in the first half of 2024 |
| Two, continual spending and market share gain at our current customer, three, broader participation with new customer in China and four, good execution by our production and service team |
| Furthermore, this enhanced ACM brand and position us to attract new opportunities with other major global customers |
| But I think as I said, we have a big revenue with a strong financial supporting from sales here with also differential product, definitely will penetrate into the international market |
| This demonstrates a deepen relationships which we believe can lead to production orders |
| We had a stronger contribution from second and third tier semiconductor manufacturers including power, analog, CMOS, image sensor and current semiconductors and other devices and some new customers |
| We entered into the 30 millimeter auto bench cleaning market several years ago is proving to be a significant winner for their mature node spending |
| And we can see -- get a good convenient performance and also much less particle consumption |
| We are making a good progress in the evaluation of our Track tool |
| We believe a strong commitment to Korea will improving our relationship with our key Korean customer |
| This is good for our customer and good for their environment as our proprietary Tahoe design significantly reduce the consumption of the sulfuric acid |
| We continue to innovate in our cleaning and look forward to additional market share gain in 2024 when ramp up several key new products, including our bevel etch cleaning tool, high temperature SPM single wafer cleaning tool and the semi-critical CO2 dry cleaning tool |
| And so we see that as good market for us and also we see that continue to grow |
| Obviously we've done better than that for the last several years, but that's kind of the margin level that's our target level |
| ECP demonstrated strong performance |
| I want to note that our first tool achievement grow even higher than 33% |
| We are taking a good share for overall plating with a particular strong growth in front end process in 2023 |
| We expect an even broader customer footprint and good revenue contribution in 2024 |
| As with our cleaning, plating and furnace product line, our Track and PECVD platform boasts the proprietary technology that position them as a successful choice for major customer globally, including both in and outside China |
| In summary, we expect another year of strong growth in this product category in 2024 |
| That's our confidence and also our proven record |
| Statement |
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| But you also see that some of your major customer, their gross margin already dropped to like 10% gross margin, right? So I'm a little bit worried about sustainability |
| Total shipments were $140 million for the fourth quarter, down 29% |
| For shipments, the shipment for fourth quarter were $140 million, down 29% year-to-year |
| On our third quarter call we know the delay of shipment to several customers due in part to adjustment in their fab buildouts |
| You did mention the sales and marketing was down |
| And so that's significantly below the growth rate in 2023 |
| And there are certain, I call the plan delay or the installation not enough, either resource or floor plan not fast enough |
| So I think the new customer contribution caught our eye SiEn |
| We view the low shipments for the fourth quarter to be a one quarter event |
| The decline in sales and marketing was primarily due to a significant reduction of costs related to promotional tools |
| Mark McKechnie Yes, it was a significant decline in the sales and marketing promotion tools |
| I'm confused why that fell so much |
| We didn't break it out, but we did a couple other questions about that |
| Especially second half year or next year it's really we want to see something recover from DRAM market |
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