| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation – Amtech Systems, Inc. (the “Company”) is a global manufacturer of capital equipment, including thermal processing, silicon wafer handling automation, and related consumables used in fabricating solar cells, LED and semiconductor devices. The Company sells these products to solar cell and semiconductor manufacturers worldwide, particularly in Asia, United States and Europe. The Company serves niche markets in industries that are experiencing rapid technological advances and which historically have been very cyclical. Therefore, future profitability and growth depend on the Company’s ability to develop or acquire and market profitable new products and on its ability to adapt to cyclical trends. Principles of Consolidation – The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and subsidiaries in which it has a controlling interest. The Company reports noncontrolling interests in consolidated entities as a component of equity separate from the Company’s equity. The equity method of accounting is used for i nvestments over which the Company has a significant influence but not a controlling financial interest. All material intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates – The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition – We review product and service sales contracts with multiple deliverables to determine if separate units of accounting are present. Where separate units of accounting exist, revenue allocated to delivered items is the lower of the relative selling price of the delivered items in the sales arrangement or the portion of the selling price that is not contingent upon performance of the service. We recognize revenue when persuasive evidence of an arrangement exists; the product has been delivered and title has transferred, or services have been rendered; and the seller’s price to the buyer is fixed or determinable and collectability is reasonably assured. For us, this policy generally results in revenue recognition at the following points: 1. For our equipment business, transactions where legal title passes to the customer upon shipment, we recognize revenue upon shipment for those products where the customer’s defined specifications have been met with at least two similarly configured systems and processes for a comparably situated customer. Our selling prices may include both equipment and services, i.e., installation and start-up services performed by our service technicians. The equipment and services are multiple deliverables. Certain equipment that has a positive track record of successful installation and customer acceptance are considered to be routine systems. Our recognition of revenue upon delivery of such equipment that has been routinely installed and accepted is equal to the total selling price minus the relative selling price of the undelivered services. Where the installation and acceptance of more than two similarly configured items of equipment have not become routine, recognition of revenue upon delivery of equipment is limited to the lesser of (i) the total selling price minus the relative selling price of the undelivered services or (ii) the non-contingent amount. Since we defer only those costs directly related to installation, or other unit of accounting not yet delivered, and the portion of the contract price is often considerably greater than the relative selling price of those items, our policy at times will result in deferral of profit that is disproportionate in relation to the deferred revenue. When this is the case, the gross margin recognized in one period will be lower and the gross margin reported in a subsequent period will improve. 2. For products where the customer’s defined specifications have not been met with at least two similarly configured systems and processes, the revenue and directly related costs are deferred at the time of shipment and later recognized at the time of customer acceptance or when this criterion has been met. We have, on occasion, experienced longer than expected delays in receiving cash from certain customers pending final installation or system acceptance. If some of our customers refuse to pay the final payment, or otherwise delay final acceptance or installation, the deferred revenue would not be recognized, adversely affecting our future cash flows and operating results. 3. Sales of certain equipment, spare parts and consumables are recognized upon shipment, as there are no post shipment obligations other than standard warranties. 4. Service revenue is recognized upon performance of the services requested by the customer. Revenue related to service contracts is recognized ratably over the period of the contract or in accordance with the terms of the contract, which generally coincides with the performance of the services requested by the customer. Deferred Profit – Revenue deferred pursuant to our revenue policy, net of the related deferred costs, if any, is recorded as deferred profit in current liabilities. The components of deferred profit are as follows: September 30, 2016 2015 2014 (dollars in thousands) Deferred revenue $ 7,029 $ 7,280 $ 8,118 Deferred costs 2,320 2,407 1,210 Deferred profit $ 4,709 $ 4,873 $ 6,908 Cash Equivalents – We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents consist of amounts invested in U.S. money market funds and various U.S. and foreign bank operating and time deposit accounts. Restricted Cash – Restricted cash of $0.9 million and $0.6 million as of September 30, 2016 and 2015, respectively, includes collateral for bank guarantees required by certain customers from whom deposits have been received in advance of shipment. Restricted cash as of September 30, 2016 and 2015 includes $0.2 million relating to the Company's proportional responsibility, assumed in connection with the BTU acquisition, for clean-up costs at a Superfund site. Accounts Receivable and Allowance for Doubtful Accounts – Accounts receivable are recorded at the gross sales price of products sold to customers on trade credit terms. Accounts receivable are considered past due when payment has not been received from the customer within the normal credit terms extended to that customer. A valuation allowance is established for accounts when collection is no longer probable. Accounts are written off against the allowance when the probability of collection is remote. The following is a summary of the activity in the Company’s allowance for doubtful accounts: Years Ended September 30, 2016 2015 2014 (dollars in thousands) Balance at beginning of year $ 5,009 $ 2,846 $ 638 Provision / (Reversal) 1,698 (194 ) 1,304 Write offs (1,942 ) (130 ) (13 ) Acquired through business acquisitions — 1,397 — Adjustment (1) (2) (3) (1,035 ) 1,090 917 Balance at end of year $ 3,730 $ 5,009 $ 2,846 (1) 2014 relates to an unbilled accounts receivable that was legally owed to the Company but was deemed uncollectible when the customer entered into bankruptcy proceedings. To allow for submission of billings to the courts, amounts were invoiced and fully reserved. (2) 2015 amount primarily relates to cancellation fees that were legally owed to the Company but for which collectability was not assured. A portion of these fees were collected in 2016, and the remainder were written off. (3) Includes foreign currency translation adjustments. Accounts Receivable - Unbilled and Other – Unbilled and other accounts receivable consist mainly of the contingent portion of the sales price that is not collectible until successful installation of the product. These amounts are generally billed upon final customer acceptance. Concentrations of Credit Risk – Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and trade accounts receivable. The Company’s customers consist of solar cell and semiconductor manufacturers worldwide, as well as the lapping and polishing marketplace. Credit risk is managed by performing ongoing credit evaluations of the customers’ financial condition, by requiring significant deposits where appropriate, and by actively monitoring collections. Letters of credit are required of certain customers depending on the size of the order, type of customer or its creditworthiness, and country of domicile. Reserves for potentially uncollectible receivables are maintained based on an assessment of collectability. The Company maintains its cash, cash equivalents and restricted cash in multiple financial institutions. Balances in the United States (approximately 70% and 62% of total cash balances as of September 30, 2016 and 2015, respectively) are primarily invested in US Treasuries or are in financial institutions insured by the Federal Deposit Insurance Corporation (FDIC). The remainder of the Company’s cash is maintained with financial institutions with reputable credit in The Netherlands, France and China. As of September 30, 2016, one customer individually represented 11% of accounts receivable. As of September 30, 2015, no customer individually represented greater than 10% of accounts receivable. Refer to Note 8, Geographic Regions, for information regarding revenue and assets in other countries subject to fluctuation in foreign currency exchange rates. Inventories – We value our inventory at the lower of cost or net realizable value. Costs for approximately 50% and 60% of inventory as of September 30, 2016 and 2015, respectively, are determined on an average cost basis with the remainder determined on a first-in, first-out (FIFO) basis. The components of inventories are as follows: September 30, 2016 September 30, 2015 (dollars in thousands) Purchased parts and raw materials $ 12,435 $ 11,587 Work-in-process 7,044 5,089 Finished goods 3,744 6,653 $ 23,223 $ 23,329 Notes and Other Receivables – Notes and other Receivable consists of amounts due to the Company for the sale of Kingstone shares and repayment of a loan (see Note 14 "Deconsolidation"). The carrying amount of the notes receivable approximated fair value due to its short-term nature. Property, Plant and Equipment – Property plant, and equipment are recorded at cost. Maintenance and repairs are charged to expense as incurred. The cost of property retired or sold and the related accumulated depreciation and amortization are removed from the applicable accounts when disposition occurs and any gain or loss is recognized. Depreciation and amortization is computed using the straight-line method. Depreciation and capital lease amortization expense was $2.1 million , $2.2 million and $1.7 million in fiscal years 2016, 2015 and 2014, respectively. Useful lives for equipment, machinery and leasehold improvements range from three to seven years; for furniture and fixtures from five to ten years; and for buildings 20 to 30 years. The following is a summary of property, plant and equipment: September 30, 2016 September 30, 2015 (dollars in thousands) Land, building and leasehold improvements $ 18,255 $ 18,095 Equipment and machinery 9,056 9,709 Furniture and fixtures 5,426 5,465 32,737 33,269 Accumulated depreciation and amortization (16,777 ) (15,508 ) $ 15,960 $ 17,761 Goodwill – Goodwill and intangible assets with indefinite lives are not subject to amortization, but are tested for impairment when it is determined that it is more likely than not that the fair value of a reporting unit or the indefinite-lived intangible asset is less than its carrying amount, typically at the end of the fiscal year, or more frequently if circumstances dictate. During the fourth quarter of fiscal 2015, the Company obtained additional information relating to the fair value of tangible and intangible assets acquired from SoLayTec and BTU, resulting in an increase to goodwill of $0.9 million and a decrease of $0.2 million , respectively. As detailed in Note 14 "Deconsolidation", the Company deconsolidated Kingstone as of September 16, 2015. The adjustment to goodwill as a result of the deconsolidation of Kingstone is shown in the table below. The changes in the carrying amount of goodwill for the year ended September 30, 2016 are as follows. Solar Semiconductor Polishing Total (dollars in thousands) Goodwill $ 6,617 $ 4,463 $ 728 $ 11,808 Accumulated impairment losses (1,273 ) — — (1,273 ) Carrying value at September 30, 2015 5,344 4,463 728 10,535 Reallocation of goodwill — 600 — 600 Net exchange differences (16 ) — — (16 ) Carrying value at September 30, 2016 $ 5,328 $ 5,063 $ 728 $ 11,119 Goodwill $ 6,597 $ 5,063 $ 728 $ 12,388 Accumulated impairment losses (1,269 ) — — (1,269 ) Carrying value at September 30, 2016 $ 5,328 $ 5,063 $ 728 $ 11,119 Intangibles - Intangible assets are capitalized and amortized on a straight-line basis over their useful life if the life is determinable. If the life is not determinable, amortization is not recorded. Amortization expense related to intangible assets was $0.8 million , $1.2 million and $0.7 million in fiscal years 2016, 2015 and 2014, respectively. The aggregate amortization expense for the intangible assets for each of the five succeeding fiscal years is estimated to be $0.7 million , $0.6 million , $0.6 million , $0.6 million and $0.4 million in 2017, 2018, 2019, 2020 and 2021. On December 24, 2014, the Company acquired a 51% controlling interest in SoLayTec. The intangible assets of SoLayTec total $2.0 million , of which $1.8 million is included in "Technology" and $0.2 million is included in "Trade names" in the table below. On January 30, 2015, the Company completed the merger with BTU. The intangible assets of BTU total $2.9 million , of which $1.2 million is included in "Trade names" and $1.7 million is included in "Customer lists" in the table below. See Note 13, “Acquisitions,” for more information regarding the acquisition of SoLayTec and the merger with BTU. As a result of the sale of the Company's partial ownership in Kingstone in fiscal 2015, the Company derecognized $3.2 million of intangible assets and $1.9 million of accumulated amortization. See Note 14 "Deconsolidation" for additional details relating to the deconsolidation of Kingstone. The following is a summary of intangibles: Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Years Ended September 30, 2016 2015 (dollars in thousands) Customer lists 6-10 years $ 2,432 $ (1,164 ) $ 1,268 $ 2,434 $ (808 ) $ 1,626 Technology 5-10 years 3,214 (1,678 ) 1,536 3,223 (1,368 ) 1,855 Trade names 10-15 Years 1,455 (219 ) 1,236 1,456 (72 ) 1,384 Other 2-10 years 277 (217 ) 60 278 (204 ) 74 $ 7,378 $ (3,278 ) $ 4,100 $ 7,391 $ (2,452 ) $ 4,939 Warranty – A limited warranty is provided free of charge, generally for periods of 12 to 24 months to all purchasers of the Company’s new products and systems. Accruals are recorded for estimated warranty costs at the time revenue is recognized. The following is a summary of activity in accrued warranty expense: Years Ended September 30, 2016 2015 2014 (dollars in thousands) Beginning balance $ 793 $ 628 $ 1,454 Warranty – BTU merger — 806 — Additions for warranties issued during the period 1,074 677 479 Reductions in the liability for payments made under the warranty (832 ) (1,007 ) (390 ) Changes related to pre-existing warranties (250 ) (215 ) (750 ) Currency translation adjustment 10 (96 ) (165 ) Ending balance $ 795 $ 793 $ 628 Research, Development and Engineering Expenses – Research, development and engineering expenses consist of the cost of employees, consultants and contractors who design, engineer and develop new products and processes as well as materials, supplies and facilities used in producing prototypes. Payments received for research and development grants prior to the meeting of milestones are recorded as unearned research and development grant liabilities and included in other accrued liabilities on the balance sheet. When certain contract requirements are met, governmental research and development grants are netted against research and development expenses. Years Ended September 30, 2016 2015 2014 (dollars in thousands) Research, development and engineering $ 9,535 $ 13,214 $ 10,863 Grants earned (1,531 ) (6,296 ) (4,572 ) Net research, development and engineering $ 8,004 $ 6,918 $ 6,291 Shipping Expense – Shipping expenses of $2.3 million , $2.5 million and $1.0 million for fiscal 2016 , 2015 and 2014 are included in selling, general and administrative expenses. Foreign Currency Transactions and Translation – Our operations in Europe, China and other countries are primarily conducted in their functional currencies, the Euro, Renminbi, or the local country currency, respectively. Net income includes a pretax net loss from foreign currency transactions of less than $0.1 million in fiscal 2016 and pretax net gains of $0.3 million and less than $0.1 million in fiscal 2015 and 2014, respectively. The gains or losses resulting from the translation of foreign financial statements have been included in other comprehensive income (loss). Income Taxes – The Company files consolidated federal income tax returns in the United States for all subsidiaries except those in the Netherlands, France, Hong Kong and China, where separate returns are filed. The Company computes deferred income tax assets and liabilities based upon cumulative temporary differences between financial reporting and taxable income, carryforwards available and enacted tax laws. The Company also accrues a liability for uncertain tax positions when it is more likely than not that such tax will be incurred. Deferred tax assets reflect the tax effects of temporary differences between the carrying value of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management and based on the weight of available evidence, it is more likely than not that a portion or all of the deferred tax asset will not be realized. Each quarter, the valuation allowance is re-evaluated. Stock-Based Compensation – The Company measures compensation costs relating to share-based payment transactions based upon the grant-date fair value of the award. Those costs are recognized as expense over the requisite service period, which is generally the vesting period. The benefits or deficiencies of tax deductions in excess of or less than recognized compensation cost are reported as cash flow from financing activities rather than as cash flow from operating activities. Stock-based compensation expense for the fiscal years ended September 30, 2016, 2015 and 2014 reduced the Company’s results of operations as follows: Years Ended September 30, 2016 2015 2014 (dollars in thousands) Effect on income before income taxes (1) $ (1,390 ) $ (1,162 ) $ (795 ) Effect on income taxes $ 186 $ 221 $ 326 Effect on net income $ (1,204 ) $ (941 ) $ (469 ) (1) Stock-based compensation expense is included in selling, general and administrative expense The Company awards restricted shares under the existing share-based compensation plans. Our restricted share-awards vest in equal annual installments over 6 months to four years. The total value of these awards is expensed on a ratable basis over the service period of the employees receiving the grants. The “service period” is the time during which the employees receiving grants must remain employed for the shares granted to fully vest. Qualified stock options issued under the terms of the plans have, or will have, an exercise price equal to, or greater than, the fair market value of the common stock at the date of the option grant, and expire no later than ten years from the date of grant, with the most recent grant expiring in 2026. Options vest over 6 months to 4 years. The Company estimates the fair value of stock option awards on the date of grant using the Black-Scholes option pricing model using the following assumptions: Years Ended September 30, 2016 2015 2014 Risk free interest rate 2% 2% 2% Expected life 6 years 6 years 6 years Dividend rate 0% 0% 0% Volatility 63% 67% 69% To estimate expected lives for this valuation, it was assumed that options will be exercised at varying schedules after becoming fully vested. Forfeitures have been estimated at the time of grant and will be revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. Forfeitures were estimated based upon historical experience. Fair value computations are highly sensitive to the volatility factor assumed; the greater the volatility, the higher the computed fair value of the options granted. The Company uses historical stock prices to determine the volatility factor. Fair Value of Financial Instruments - In accordance with the requirements of the Fair Value Measurements and Disclosures Topic of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification (ASC), the Company groups its financial assets and liabilities measured at fair value on a recurring basis in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 - Valuation is based upon quoted market price for identical instruments traded in active markets. Level 2 - Valuation is based on quoted market prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 - Valuation is generated from model-based techniques that use significant assumptions not observable in the market. Valuation techniques include use of discounted cash flow models and similar techniques. In accordance with the requirements of the Fair Value Measurements and Disclosures Topic of the FASB ASC, it is the Company's policy to use observable inputs whenever reasonably practicable in order to minimize the use of unobservable inputs when developing fair value measurements. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, the fair value measurement is based on models that use primarily market based parameters including interest rate yield curves, option volatilities and currency rates. In certain cases, where market rate assumptions are not available, the Company is required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument. Changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results of current or future values. Cash, Cash Equivalents and Restricted Cash - Included in Cash and Cash Equivalents in the Consolidated Balance Sheets are money market funds invested in treasury bills, notes and other direct obligations of the U.S. Treasury and foreign bank operating and time deposit accounts. The fair value of this cash equivalent is based on Level 1 inputs in the fair value hierarchy. Receivables and Payables -The recorded amounts of these financial instruments, including accounts receivable and accounts payable, approximate their fair value because of the short maturities of these instruments. If measured at fair value in the financial statements, these financial instruments would be classified as Level 3 in the fair value hierarchy. Pensions – The Company has retirement plans covering substantially all employees. The principal plans are the multiemployer defined benefit pension plans of the Company’s operations in the Netherlands and France and the multiemployer plan for hourly union employees in Pennsylvania and the Company's defined contribution plan that covers substantially all of the employees in the United States. The multiemployer plans in the United States and France are insignificant. The Company’s employees in The Netherlands, approximately 130 , participate in a multi-employer pension plan Pensioenfonds Metaal en Techniek (“PMT”), determined in accordance with the collective bargaining agreements effective for the industry in the Netherlands. This collective bargaining agreement has no expiration date. This multiemployer pension plan covers approximately 33,000 companies and 1.2 million participants. Amtech's contribution to the multiemployer pension plan is less than 5.0% of the total contributions to the plan. The plan monitors its risks on a global basis, not by company or employee, and is subject to regulation by Dutch governmental authorities. By law (the Dutch Pension Act), a multiemployer pension plan must be monitored against specific criteria, including the coverage ratio of the plan assets to its obligations. This coverage ratio must exceed 105% for the total plan. Every company participating in a Dutch multiemployer union plan contributes a premium calculated as a percentage of its total pensionable salaries, with each company subject to the same percentage contribution rate. The premium can fluctuate yearly based on the coverage ratio of the multiemployer union plan. The pension rights of each employee are based upon the employee’s average salary during employment, the years of service, and the participant's age at the time of retirement. The Company's net periodic pension cost for this multiemployer pension plan for any period is the amount of the required contribution for that period. A contingent liability may arise from, for example, possible actuarial losses relating to other participating entities because each entity that participates in a multiemployer union plan shares in the actuarial risks of every other participating entity or any responsibility under the terms of a plan to finance any shortfall in the plan if other entities cease to participate The coverage ratio of the Dutch multiemployer union plan is 92.1% as of September 30, 2016. In 2013, PMT prepared and executed a “Recovery Plan” which was approved by De Nederlandsche Bank, the Dutch central bank, which is the supervisor of all pension companies in the Netherlands. As a result of the Recovery Plan, the pension rights decreased 6.3% in April 2013 and the employer's premium percentage increased to 16.6% of pensionable wages. The coverage ratio is calculated by dividing the plan assets by the total sum of pension liabilities and is based on actual market interest. The coverage ratio of PMT fluctuates during a year due to the changes in the value of the assets and the present value of the liabilities. During the fiscal year 2016 the coverage ratio was as high as 99.2% in the first quarter and as low as 89.6% in the second quarter. The fluctuations are due to the reduction in the ultimate forward rate (which increases the present value of the liabilities) and a decrease in the value of global equities. As of September 30, 2016 PMT's total plan assets were $76.7 billion and the actuarial present value of accumulated plan benefits was $83.3 billion. Below is a table of contributions made by the Company to multiemployer pension plans: Contributions Years Ended September 30, 2016 2015 2014 (dollars in thousands) Pensioenfonds Metaal en Techniek (PMT) $ 796 $ 805 $ 929 Other plans 187 158 158 Total $ 983 $ 963 $ 1,087 The Company matches employee funds to the Company's defined contribution plans on a discretionary basis. The match was insignificant in fiscal years 2016, 2015 and 2014. Reclassifications – Certain reclassifications have been made to prior year financial statements to conform to the current year presentation relating to segment disclosure (see Note 7). Specifically, allowance for doubtful accounts, and warranty have been modified to provide a greater level of detail. These reclassifications had no effect on the previously reported Consolidated Financial Statements for any period. Impact of Recently Issued Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. These amendments provide cash flow statement classification guidance for: 1. Debt Prepayment or Debt Extinguishment Costs; 2. Settlement of Zero-Coupon Debt Instruments or Other Debt Instruments with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate of the Borrowing; 3. Contingent Consideration Payments Made after a Business Combination; 4. Proceeds from the Settlement of Insurance Claims; 5. Proceeds from the Settlement of Corporate-Owned Life Insurance Policies, including Bank-Owned Life Insurance Policies; 6. Distributions Received from Equity Method Investees; 7. Beneficial Interests in Securitization Transactions; and 8. Separately Identifiable Cash Flows and Application of the Predominance Principle. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early application is permitted, including adoption in an interim period. The Company is currently in the process of evaluating the impact of the adoption on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which will result in the more timely recognition of losses. The new standard applies to financial assets measured at amortized cost basis, including receivables that result from revenue transactions and held-to-maturity debt securities. The new guidance will be effective for the Company starting in the first quarter of fiscal 2021. Early adoption is permitted starting in the first quarter of fiscal 2020. The Company is in the process of determining the effects the adoption will have on its consolidated financial statements as well as whether to adopt the new guidance early. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 regarding ASC Topic 606, “Revenue from Contracts with Customers.” ASU 2014-09 provides principles for recognizing revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14 to defer the effective date by one year with early adoption permitted as of the original effective date. ASU 2014-09 will be effective for Amtech’s fiscal year beginning October 1, 2018 unless we elect the earlier date of October 1, 2017. In addition, the FASB issued ASU 2016-08, ASU 2016-10, and ASU 2016-12 in March 2016, April 2016, and May 2016, respectively, to help provide interpretive clarifications on the new guidance in ASC Topic 606. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation - “Stock Compensation (Topic 718)”. ASU 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The amendments in this ASU are effective for annual periods beginning after December 15, 2016 and for the interim periods therein. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-07, “Equity Method and Joint Ventures” affecting a |
