AXCELIS EXPECTS TO EXCEED THE HIGH END OF REVENUE, GROSS MARGIN AND EPS GUIDANCE FOR THE 2ND QUARTER

Continued Strength in Mature Markets and CS&I Drive Strong Financial Performance

BEVERLY, Mass., July 12, 2022 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today announced that the Company expects to exceed the high end of the previously announced financial guidance for the second quarter of 2022, which was revenue of $205-215 million, gross margin of approximately 41%, operating profit of approximately $41 million and earnings per diluted share of approximately $1.00.

President and CEO Mary Puma commented, "Axcelis continues to operate at record levels with continued strong demand for our products.  I'd like to thank all of our Axcelis employees and suppliers for their hard work and commitment that despite this challenging environment has allowed us to continue to satisfy our customers' needs and achieve our financial objectives. Strong second quarter bookings highlight continued strength in demand, supporting our objective of achieving greater than $850 million in revenue in 2022."

Second Quarter 2022 Conference Call
Axcelis Technologies will release financial results for the second quarter 2022 on Wednesday, August 3, 2022, at 4:00 p.m. ET. The Company will host a call to discuss the results for the second quarter 2022 on Thursday, August 4, 2022, at 8:30 a.m. ET. The call will be available to interested listeners via an audio webcast that can be accessed through the Investors page of Axcelis' website at www.axcelis.com, or by registering as a Participant here:
https://register.vevent.com/register/BI9300aa06c3a84686ae778970f11de3e8
Webcast replays will be available for 30 days following the call.

Safe Harbor Statement
This press release contains forward-looking statements under the SEC safe harbor provisions. These statements, which include our guidance for future financial performance, are based on management's current expectations and should be viewed with caution. They are subject to various risks and uncertainties, many of which are outside the control of the Company, including the timing of orders and shipments, the conversion of orders to revenue in any particular quarter, or at all, the continuing demand for semiconductor equipment, relative market growth, continuity of business relationships with and purchases by major customers, competitive pressure on sales and pricing, increases in material and other production costs that cannot be recouped in product pricing and global economic, political and financial conditions. These risks and other risk factors relating to Axcelis are described more fully in the most recent Form 10-K filed by Axcelis and in other documents filed from time to time with the Securities and Exchange Commission.

Axcelis (Nasdaq: ACLS), headquartered in Beverly, Mass., has been providing innovative, high-productivity solutions for the semiconductor industry for over 40 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:

Maureen Hart (editorial/media) 978.787.4266
Doug Lawson (investor relations) 978.787.9552

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SOURCE Axcelis Technologies, Inc.