Amtech Systems (ASYS) 10-Q 8 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2019	Aug. 02, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	AMTECH SYSTEMS INC
Entity Central Index Key	0000720500
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding		14,267,107

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Current Assets
Cash and cash equivalents	$ 49,109	$ 45,897
Restricted cash	603	18
Accounts receivable
Trade (less allowance for doubtful accounts of $270 and $454 at June 30, 2019, and September 30, 2018, respectively)	15,488	17,985
Unbilled and other	0	291
Inventories	18,885	17,835
Contract assets	55	0
Held-for-sale assets	22,965	45,322
Other current assets	1,688	2,884
Total current assets	108,793	130,232
Property, Plant and Equipment - Net	10,290	10,509
Intangible Assets - Net	935	1,131
Goodwill - Net	6,633	6,633
Other Assets	775	901
Total Assets	127,426	149,406
Current Liabilities
Accounts payable	4,914	6,867
Accrued compensation and related taxes	2,684	3,359
Accrued warranty expense	627	644
Other accrued liabilities	1,192	667
Current maturities of long-term debt	369	350
Deferred profit	2,561	1,519
Income taxes payable	1,708	2,357
Held-for-sale liabilities	18,484	31,798
Total current liabilities	32,539	47,561
Long-term Debt	5,270	5,542
Income Taxes Payable	3,041	3,213
Total liabilities	40,850	56,316
Commitments and Contingencies
Shareholders’ Equity
Preferred stock; 100,000,000 shares authorized; none issued	0	0
Common stock; $0.01 par value; 100,000,000 shares authorized; shares issued and outstanding: 13,150,222 and 9,848,253 at June 30, 2015, and September 30, 2014, respectively	143	142
Additional paid-in capital	124,964	124,316
Accumulated other comprehensive loss	(11,177)	(9,974)
Retained deficit	(27,354)	(21,394)
Total shareholders’ equity	86,576	93,090
Total Liabilities and Shareholders’ Equity	$ 127,426	$ 149,406

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Current Assets
Allowance for doubtful accounts	$ 270	$ 454
Stockholders' Equity
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	14,258,307	14,216,596
Common stock, shares outstanding (in shares)	14,258,307	14,216,596

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues, net of returns and allowances	$ 21,003	$ 28,743	$ 64,861	$ 76,974
Cost of sales	13,153	18,560	40,064	48,249
Gross profit	7,850	10,183	24,797	28,725
Selling, general and administrative	5,718	6,775	18,137	19,518
Research, development and engineering	746	582	2,325	2,035
Restructuring charges	35	0	1,072	0
Operating income	1,351	2,826	3,263	7,172
Gain on sale of other assets	0	2,883	0	2,883
Income from equity method investment	0	232	0	234
Interest income and other, net	249	410	511	396
Income from continuing operations before income taxes	1,600	6,351	3,774	10,685
Income tax provision	707	1,372	1,621	2,944
Income from continuing operations, net of tax	893	4,979	2,153	7,741
Income (loss) from discontinued operations, net of tax	1,154	(8)	(8,113)	6,517
Net income (loss)	$ 2,047	$ 4,971	$ (5,960)	$ 14,258
Income (Loss) Per Basic Share:
Basic income per share from continuing operations (USD per share)	$ 0.06	$ 0.33	$ 0.15	$ 0.52
Basic income (loss) per share from discontinued operations (USD per share)	0.08	0	(0.57)	0.44
Net income (loss) per basic share (USD per share)	0.14	0.33	(0.42)	0.96
Income (Loss) Per Diluted Share:
Diluted income per share from continuing operations (USD per share)	0.06	0.33	0.15	0.51
Diluted income (loss) per share from discontinued operations (USD per share)	0.08	0	(0.57)	0.43
Net income (loss) per diluted share (USD per share)	$ 0.14	$ 0.33	$ (0.42)	$ 0.94
Weighted average shares outstanding - basic (in shares)	14,245	14,925	14,231	14,867
Weighted average shares outstanding - diluted (in shares)	14,316	15,091	14,267	15,181

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,047	$ 4,971	$ (5,960)	$ 14,258
Foreign currency translation adjustment	(904)	(2,181)	(1,690)	(844)
Reclassification adjustment for net losses included in net income	487	0	487	0
Comprehensive income (loss)	$ 1,630	$ 2,790	$ (7,163)	$ 13,414

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid- In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)
Beginning balance (in shares) at Sep. 30, 2017		14,711,000
Beginning balance at Sep. 30, 2017	$ 90,483	$ 147	$ 125,564	$ (8,529)	$ (26,699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	6,452				6,452
Translation adjustment	541			541
Stock compensation expense	253		253
Stock options exercised (in shares)		165,000
Stock options exercised	1,200	$ 2	1,198
Ending balance (in shares) at Dec. 31, 2017		14,876,000
Ending balance at Dec. 31, 2017	98,929	$ 149	127,015	(7,988)	(20,247)
Beginning balance (in shares) at Sep. 30, 2017		14,711,000
Beginning balance at Sep. 30, 2017	90,483	$ 147	125,564	(8,529)	(26,699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	14,258
Ending balance (in shares) at Jun. 30, 2018		14,987,000
Ending balance at Jun. 30, 2018	106,419	$ 150	128,083	(9,373)	(12,441)
Beginning balance (in shares) at Dec. 31, 2017		14,876,000
Beginning balance at Dec. 31, 2017	98,929	$ 149	127,015	(7,988)	(20,247)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	2,835				2,835
Translation adjustment	796			796
Stock compensation expense	210		210
Stock options exercised (in shares)		20,000
Stock options exercised	142	$ 0	142
Ending balance (in shares) at Mar. 31, 2018		14,896,000
Ending balance at Mar. 31, 2018	102,912	$ 149	127,367	(7,192)	(17,412)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	4,971				4,971
Translation adjustment	(2,181)			(2,181)
Stock compensation expense	169		169
Stock options exercised (in shares)		91,000
Stock options exercised	548	$ 1	547
Ending balance (in shares) at Jun. 30, 2018		14,987,000
Ending balance at Jun. 30, 2018	$ 106,419	$ 150	128,083	(9,373)	(12,441)
Beginning balance (in shares) at Sep. 30, 2018	14,216,596	14,217,000
Beginning balance at Sep. 30, 2018	$ 93,090	$ 142	124,316	(9,974)	(21,394)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(2,372)				(2,372)
Translation adjustment	(576)			(576)
Stock compensation expense	169		169
Stock options exercised (in shares)		11,000
Stock options exercised	37	$ 0	37
Ending balance (in shares) at Dec. 31, 2018		14,228,000
Ending balance at Dec. 31, 2018	$ 90,348	$ 142	124,522	(10,550)	(23,766)
Beginning balance (in shares) at Sep. 30, 2018	14,216,596	14,217,000
Beginning balance at Sep. 30, 2018	$ 93,090	$ 142	124,316	(9,974)	(21,394)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (5,960)
Ending balance (in shares) at Jun. 30, 2019	14,258,307	14,258,000
Ending balance at Jun. 30, 2019	$ 86,576	$ 143	124,964	(11,177)	(27,354)
Beginning balance (in shares) at Dec. 31, 2018		14,228,000
Beginning balance at Dec. 31, 2018	90,348	$ 142	124,522	(10,550)	(23,766)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(5,635)				(5,635)
Translation adjustment	(210)			(210)
Stock compensation expense	194		194
Stock options exercised (in shares)		0
Stock options exercised	0	$ 0	0
Ending balance (in shares) at Mar. 31, 2019		14,228,000
Ending balance at Mar. 31, 2019	84,697	$ 142	124,716	(10,760)	(29,401)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	2,047				2,047
Translation adjustment	(417)			(417)
Stock compensation expense	111		111
Stock options exercised (in shares)		30,000
Stock options exercised	$ 138	$ 1	137
Ending balance (in shares) at Jun. 30, 2019	14,258,307	14,258,000
Ending balance at Jun. 30, 2019	$ 86,576	$ 143	$ 124,964	$ (11,177)	$ (27,354)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Operating Activities
Net (loss) income		$ (5,960)	$ 14,258
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		1,280	1,622
Write-down of inventory		2,991	195
Capitalized interest		106	143
Deferred income taxes		192	206
Non-cash share-based compensation expense		474	632
Loss (gain) on sale of property, plant and equipment		1	(53)
Gain on sale of subsidiary		(1,614)	0
Gain on sale of other assets		0	(2,883)
Income from equity method investment		0	(234)
Provision for allowance for doubtful accounts, net		1,104	64
Changes in operating assets and liabilities:
Accounts receivable		630	(5,877)
Inventories		284	6,565
Contract and other assets		12,675	10,034
Accounts payable		(3,843)	(9,022)
Accrued income taxes		(1,359)	(1,742)
Accrued and other liabilities		(5,726)	39
Contract liabilities		(814)	(34,550)
Net cash provided by (used in) operating activities		421	(20,603)
Investing Activities
Purchases of property, plant and equipment		(552)	(845)
Proceeds from sale of property, plant and equipment		0	64
Costs related to sale of equity method investment		0	(6)
Net cash disposed of in sale of subsidiary		(1,112)	0
Net cash used in investing activities		(1,664)	(787)
Financing Activities
Proceeds from the exercise of stock options		175	1,889
Payments on long-term debt		(280)	(275)
Borrowings on long-term debt		9	0
Net cash (used in) provided by financing activities		(96)	1,614
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		(1,450)	(380)
Net Decrease in Cash, Cash Equivalents and Restricted Cash		(2,789)	(20,156)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	[1]	62,496	75,761
Cash, Cash Equivalents and Restricted Cash, End of Period	[1]	$ 59,707	$ 55,605
[1]	Includes Cash, Cash Equivalents and Restricted Cash that are included in Held-For-Sale Assets on the Condensed Consolidated Balance Sheets.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Nature of Operations and Basis of Presentation – Amtech Systems, Inc. (the “Company,” “Amtech,” “we,” “our” or “us”) is a leading, global manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes, or LEDs, silicon carbide (SiC) and silicon power chips and solar cells. We sell these products to semiconductor and solar cell manufacturers worldwide, particularly in Asia, the United States and Europe. We serve niche markets in industries that are experiencing rapid technological advances and which historically have been very cyclical. Therefore, future profitability and growth depend on our ability to develop or acquire and market profitable new products and on our ability to adapt to cyclical trends. In the second quarter of fiscal 2019, we began the process to divest our solar business. As such, we have classified substantially all of the Solar segment as held for sale in our Condensed Consolidated Balance Sheets and reported its results as discontinued operations in our Condensed Consolidated Statements of Operations. For additional information on the divestiture, see Note 4. For additional information on our segments, see Note 10. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), and consequently do not include all disclosures normally required by accounting principles generally accepted in the United States of America. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments necessary, all of which are of a normal and recurring nature, to present fairly our financial position, results of operations and cash flows. Certain information and note disclosures normally included in financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 . Our fiscal year is from October 1 to September 30. Unless otherwise stated, references to the years 2019 and 2018 relate to the fiscal years ended September 30, 2019 and 2018, respectively. The consolidated results of operations for the three and nine months ended June 30, 2019 , are not necessarily indicative of the results to be expected for the full fiscal year. Principles of Consolidation – The consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries. All significant intercompany balances 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. Reclassifications – Certain reclassifications have been made to prior year financial statements to conform to the current year presentation. Results for all periods presented in this report have been reclassified for discontinued operations (Note 4) and for changes to our reportable segments (Note 10). These reclassifications had no effect on the previously reported consolidated financial statements for any period. Divestitures – Significant accounting policies associated with a decision to dispose of a business are discussed below: Discontinued Operations – A business is classified as discontinued operations if the disposal represents a strategic shift that will have a major effect on operations or financial results and meets the criteria to be classified as held for sale or is disposed of by sale or otherwise. Significant judgments are involved in determining whether a business meets the criteria for discontinued operations reporting and the period in which these criteria are met. If a business is reported as a discontinued operation, the results of operations through the date of sale, including any gain or loss recognized on the disposition, are presented on a separate line of the Condensed Consolidated Statement of Operations. Interest on debt directly attributable to the discontinued operation is allocated to discontinued operations. Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell and it is actively marketed; (ii) it is available for immediate sale and the sale is expected to be completed within one year; and (iii) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. In isolated instances, assets held for sale may exceed one year due to events or circumstances beyond our control. The assets and related liabilities are aggregated and reported on separate lines of the Condensed Consolidated Balance Sheets. Shipping Expense – Shipping expenses of $0.2 million in each of the three months ended June 30, 2019 and 2018 , and $0.6 million for each of the nine months ended June 30, 2019 and 2018 , are included in selling, general and administrative expenses. Research, Development and Engineering Expense – The table below shows gross research and development expenses and grants earned, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Research, development and engineering $ 790 $ 582 $ 2,369 $ 2,035 Grants earned (44 ) — (44 ) — Net research, development and engineering $ 746 $ 582 $ 2,325 $ 2,035 Concentrations of Credit Risk – Our customers consist primarily of semiconductor manufacturers worldwide, as well as the lapping and polishing marketplace. Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and trade accounts receivable. 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. As of June 30, 2019 , one Semiconductor segment customer individually represented 10% of accounts receivable. As of September 30, 2018 , one Semiconductor customer individually represented 16% of accounts receivable. We maintain our cash, cash equivalents and restricted cash in multiple financial institutions. Balances in the United States, which account for approximately 77% and 88% of total cash balances at our continuing operations as of June 30, 2019 and September 30, 2018 , respectively, are primarily invested in U.S. Treasuries or are in financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). The remainder of our cash is maintained with financial institutions with reputable credit ratings in the Netherlands, China, France, the United Kingdom, Singapore and Malaysia. We maintain cash in bank accounts in amounts which at times may exceed federally insured limits. We have not experienced any losses on such accounts. Refer to Note 11 to Condensed Consolidated Financial Statements for information regarding major customers, foreign sales and revenue in other countries subject to fluctuation in foreign currency exchange rates. Impact of Recently Issued Accounting Pronouncements See Note 2 for information on our adoption of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), which amends the existing accounting standards for revenue recognition. The adoption of ASC 606 did not have a material effect on our results of operations. In November 2016, the FASB issued Accounting Standard Update (“ASU”) 2016-18, “Statement of Cash Flows: Restricted Cash.” The amendments address diversity in practice that exists in the classification and presentation of changes in restricted cash and require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. We adopted this standard retrospectively effective October 1, 2018, and, accordingly, to conform to the current period presentation, we reclassified our restricted cash to be included in the total of cash and cash equivalents presented at the bottom of our consolidated statements of cash flows for both the beginning and ending periods for our nine months ended June 30, 2019 and 2018 . As a result, the amount of the change in our net cash provided by operating activities no longer separately shows the change in restricted cash for either period. The following table summarizes the effects related to the adoption of ASU 2016-18 for the nine months ended June 30, 2018 : June 30, 2018 As reported As adjusted Net cash used in operating activities $ (2,647 ) $ (20,603 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash $ (572 ) $ (380 ) Net Decrease in Cash, Cash Equivalents and Restricted Cash $ (2,392 ) $ (20,156 ) Cash, Cash Equivalents and Restricted Cash, Beginning of Period $ 51,121 $ 75,761 Cash, Cash Equivalents and Restricted Cash, End of Period $ 48,729 $ 55,605 There have been no other material changes or additions to the recently issued accounting standards other than those previously reported in Note 1 to our Condensed Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended September 30, 2018 that affect or may affect our financial statements.

Contracts with Customers

Contracts with Customers	9 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Contracts with Customers	Contracts with Customers We are a leading, global manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes, or LEDs, silicon carbide (“SiC”) and silicon power chips. We sell these products to semiconductor manufacturers worldwide, particularly in Asia, North America and Europe. We operate in three reportable business segments, based primarily on the industry they serve: (i) Semiconductor, (ii) SiC/LED and (iii) Automation. In our Semiconductor segment, we supply thermal processing equipment, including solder reflow ovens, diffusion furnaces, and customer high-temp belt furnaces for use by semiconductor and electronics assembly manufacturers. In our SiC/LED segment, we produce substrate consumables and machinery for lapping (fine abrading) and polishing of materials, such as silicon wafers for semiconductor products, sapphire wafers for LED applications, and compound substrates, like silicon carbide wafers, for power device applications. In our Automation segment, we supply solar and semiconductor automation with in-house design and manufacturing capabilities and offer a full array of single wafer transfer tools as well as batch transfer tools and stocker options. Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration expected to be received in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a product or service to the customer. The transaction price of a contract is allocated to each distinct performance obligation based upon the relative standalone selling price for each performance obligation and is recognized as revenue upon satisfaction of the performance obligation. We implemented ASC 606 as of October 1, 2018 using the modified retrospective approach with no cumulative effect adjustment recorded to the opening balance of retained deficit. Prior period amounts have not been restated and continue to be reported under the accounting standards in effect for those periods. Upon adoption of ASC 606, we changed our accounting policy for the installation performance obligation included in all solar system sales. Previously under ASC 605, we deferred revenue for the fair value of the installation and recognized it when earned. Under ASC 606, we will no longer record a deferral but will continue to recognize the revenue when earned. This change in policy does not result in a change in the amount of revenue recorded; instead, it removes the installation liability from our balance sheet. To achieve the core principle of the standard, we apply the following five steps: 1) Identify the contract with the customer A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the related payment terms, (ii) the contract has commercial substance, and (iii) the Company determines that collection of substantially all consideration for goods and services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the goods and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the good or service either on its own or together with other available resources, and are distinct in the context of the contract, whereby the transfer of the good or service is separately identifiable from other promises to the customer in the contract. To the extent a contract includes multiple promised goods and services, the Company must apply judgment to determine whether promised goods and services are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised goods and services are accounted for as a combined performance obligation. Our equipment sales consist of multiple performance obligations, including the system itself and obligations that are not delivered simultaneously with the system, primarily installation services. Customers who purchase new systems are provided an assurance-type warranty, generally for periods of 12 to 24 months. In accordance with ASC 606, assurance-type warranties are not considered a performance obligation. 3) Determine the transaction price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods and services to the customer. The transaction price for equipment sales is adjusted for estimated product returns that we expect to occur under our return policy based upon past return rates, which have historically been immaterial. In rare cases when the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Any estimates, including the effect of the constraint on variable consideration, are evaluated at each reporting period for any changes. The transaction price for all transactions is based on the price reflected in the individual customer’s purchase order. Variable consideration has not been identified as a significant component of the transaction price for any of our transactions. The Company has determined that most contracts will be completed in less than one year. For those transactions where all performance obligations will be satisfied within one year or less, the Company is applying the practical expedient outlined in ASC 606-10-32-18. This practical expedient allows the Company not to adjust promised consideration for the effects of a significant financing component if the Company expects at contract inception the period between when the Company transfers the promised good or service to a customer and when the customer pays for that good or service will be one year or less. For those transactions that are expected to be completed after one year, the Company has assessed that there are no significant financing components because any difference between the promised consideration and the cash selling price of the good or service is for reasons other than the provision of financing. 4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple distinct performance obligations require an allocation of the transaction price to each distinct performance obligation on a relative standalone selling price basis unless the transaction price is variable and meets the criteria to be allocated entirely to each distinct performance obligation or to a distinct service that forms part of a single performance obligation. Where required, the Company determines the standalone selling price (“SSP”) for each performance obligation based on consideration of both market and Company specific factors, including the selling price and profit margin for similar products. For those contracts that contain multiple performance obligations (primarily system sales requiring installation services), the Company must determine the SSP. To determine the SSP for labor related performance obligations (such as the labor component of installation), the Company used directly observable inputs based on the standalone sale prices for these services. The Company used a cost plus margin approach in determining the SSP for any materials related performance obligations (e.g., system add-ons, spare parts, and systems). 5) Recognize revenue when, or as, the Company satisfied a performance obligation The Company satisfies performance obligations either over time or at a point in time. Revenue is recognized over time if either 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance, 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date. If the entity does not satisfy a performance obligation over time, the related performance obligation is satisfied at a point in time by transferring the control of a promised good or service to a customer. Examples of control are using the asset to produce goods or services, enhance the value of other assets, settle liabilities, and holding or selling the asset. For over time recognition, ASC 606 requires the Company to select a single revenue recognition method for the performance obligation that faithfully depicts the Company’s performance in transferring control of the goods and services. The guidance allows entities to choose between two methods to measure progress toward complete satisfaction of a performance obligation: Output methods - recognize revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract (e.g., surveys of performance completed to date, appraisals of results achieved, milestones reached, time elapsed, and units of produced or units delivered); and Input methods - recognize revenue on the basis of the entity’s efforts or inputs to the satisfaction of a performance obligation (e.g., resources consumed, labor hours expended, costs incurred, or time elapsed) relative to the total expected inputs to the satisfaction of that performance obligation. Equipment and related product revenues (e.g., furnace systems, system add-ons, machinery, consumables and spare parts) are recognized at a point in time, when they are shipped or delivered, depending on contractual terms. 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. For installation services, revenue is recognized at a point in time, once the installation of the tool is complete. The nature of the installation services are such that the customer does not simultaneously receive and consume the benefits provided by the entity’s performance, nor does performance of installation services create or enhance an asset that the customer controls. Installation services do not create an asset with an alternative use to the entity, and the entity does not have an enforceable right to payment for performance completed to date. Maintenance and service contracts are recognized over time. Progress in the satisfaction of these performance obligations will be measured using an input method of either time elapsed in the case of fixed period contracts, or labor hours expended, in the case of project-based contracts. Cost to Obtain and Fulfill a Contract with a Customer The Company recognizes an asset related to incremental costs of obtaining a contract with a customer if the Company expects to recover those costs. The Company will recognize an asset from costs incurred to fulfill a contract only if such costs relate directly to a contract that the entity can specifically identify, the costs generate or enhance resources of the Company that will be used in satisfying performance obligations in the future, and the costs are expected to be recovered. Any assets recognized related to costs to obtain or fulfill a contract are amortized to selling, general and administrative expense on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. In substantially all of our business transactions, we incur incremental costs to obtain contracts with customers, in the form of sales commissions. We maintain a commission program which rewards our sales representatives for system sales and our employees for system sales and other individual goals. Under ASC 606, an asset shall be amortized on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. However, ASC 606 provides a practical expedient to allow for the recognition of commission expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. Based on the nature of the Company’s contracts with customers, we have elected this practical expedient and expense all commissions as incurred based upon the expectation that the amortization period would be one year or less. Revenue Categories used by Management Management reviews disaggregated revenue at the operating segment level. Revenue-generating transactions vary between our operating segments due to several factors. For example, lead times vary among our operating segments and among our products. Most of the revenue for our SiC/LED segment results from the sale of consumables, rather than equipment sales. These consumables have a much shorter production period than equipment produced by our other operating segments. Due to these variations between operating segments, management determined that disaggregated revenue by segment sufficiently depicts how economic factors affect the nature, amount, timing and uncertainty of our revenue and cash flows. Contract assets and liabilities Contract assets consist of amounts the Company is not legally able to invoice but has completed the related performance obligation. These amounts generally arise from variances between the contractual payment terms and the transaction price assigned to the open performance obligations (e.g., the Company has recognized revenue in an amount greater than the amount that is billable under the contract). Contract assets are reflected in current assets on the consolidated balance sheets. Contract liabilities are reflected in current liabilities on the consolidated balance sheets as all performance obligations are expected to be satisfied within the next 12 months. Contract liabilities include customer deposits and deferred profit. Contract liabilities relate to payments invoiced or received in advance of completion of performance obligations under a contract. Contract liabilities are recognized as revenue upon the fulfillment of performance obligations. This amount relates primarily to prepayments for system sales and installation services. Semiconductor system transactions have payment terms that generally require a payment due upon shipment of the system ( 80% - 90% of contract price) and a final payment due upon installation or acceptance. Automation transactions have payment terms that generally require a payment due upon shipment of the system ( 90% of contract price), with a final payment due upon acceptance of the installation ( 10% of contract price). The components of contract assets are as follows, in thousands: June 30, Unbilled accounts receivable $ 55 Contract assets $ 55 The components of contract liabilities are as follows, in thousands: June 30, September 30, Customer deposits $ 2,561 $ 1,519 Contract liabilities $ 2,561 $ 1,519

Restructuring

Restructuring	9 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring The Company and its former Chief Executive Officer and President, Fokko Pentinga, agreed on a transition of leadership, pursuant to which Mr. Pentinga stepped down as the Chief Executive Officer, President and a director of the Company effective December 6, 2018 (the “Effective Date”). In connection with his departure, Mr. Pentinga and the Company entered into a Separation Agreement and General Release of all Claims, dated November 28, 2018 (the “Separation Agreement”). Pursuant to the Separation Agreement, Mr. Pentinga received the following benefits: • a severance payment of $864,000 in gross, less all customary and appropriate income and employment taxes; • a payment of $458,500 for all other amounts due him; • all of his time-based stock options (the “Options”), became fully vested and immediately exercisable. Mr. Pentinga has the right to exercise Options with an exercise price of $7.01 or less until December 31, 2019. The remaining Options were exercisable during the 90 -day period following the Effective Date; and • certain other benefits as set forth in the Separation Agreement. The table below details the activity for the nine months ended June 30, 2019 related to the above action as well as additional headcount reductions as we consolidated satellite offices in our Semiconductor segment and the outstanding obligations as of June 30, 2019 , in thousands: Nine Months Ended June 30, 2019 Balance at September 30, 2018 $ — Severance expense, net of adjustments 1,072 Cash payments (1,041 ) Balance at June 30, 2019 $ 31

Assets Held for Sale and Discon

Assets Held for Sale and Discontinued Operations	9 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale and Discontinued Operations	Assets Held for Sale and Discontinued Operations In April 2019, we announced that our Board of Directors (the “Board”) determined that it was in the long-term best interest of the Company to exit the solar business segment and focus our strategic efforts on our semiconductor and silicon carbide/polishing business segments in order to more fully realize the opportunities the Company believes are presented in those areas. The Board made its decision, effective March 28, 2019, after analyzing current market conditions and the strategic outlook for its solar segment, which operates in a highly competitive market among lower cost manufacturers, particularly in China. Historical fluctuations in the solar cell industry combined with downward pricing pressure has negatively affected the Company’s results of operations in recent years. In response, as previously disclosed in our periodic reports, we had been pursuing strategic alternatives for the continued operations of the Solar Segment, including the possibility of restructuring the Solar Segment to achieve profitability and compete more effectively. After further assessment, however (including input from management of the Solar segment and our external advisors), the Board determined that the investment required to return the solar business to profitability would be better utilized to pursue strategic opportunities in the Semiconductor and SiC/LED segments. The anticipated divestiture of our solar business included our Tempress and SoLayTec subsidiaries, which comprised substantially all of our Solar segment. We adopted a plan to sell our Solar operations on or before March 31, 2020. As such, we classified substantially all of the Solar segment as held for sale in our Condensed Consolidated Balance Sheets and reported its results as discontinued operations in our Condensed Consolidated Statements of Operations. We expect to incur one-time costs to sell Tempress of approximately $750,000 , which includes $500,000 in broker fees and $250,000 in legal fees, although the final amount could be greater if certain timing and/or price targets are met. On June 7, 2019 (“Sale Date”), we completed the sale of our subsidiary, SoLayTec, to a third party located in the Netherlands. Upon the sale, we recognized a gain of approximately $1.6 million , which we reported as gain on sale of subsidiary in our Consolidated Statements of Operations for the three and nine months ended June 30, 2019. Effective on the Sale Date, SoLayTec will no longer be included in our consolidated financial statements. SoLayTec is not material to Amtech’s results of operations or financial position. Operating results of our discontinued solar operations were as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Revenues, net of returns and allowances $ 5,268 $ 12,457 $ 19,649 $ 70,620 Cost of sales 4,374 8,041 19,726 52,684 Gross profit (loss) 894 4,416 (77 ) 17,936 Selling, general and administrative 1,735 2,766 7,412 10,081 Research, development and engineering 736 1,540 2,647 4,260 Restructuring charges (3 ) — 598 — Operating (loss) income (1,574 ) 110 (10,734 ) 3,595 Gain on sale of subsidiary 1,614 — 1,614 — Interest expense and other, net (143 ) (100 ) (213 ) (172 ) (Loss) income from discontinued operations before income taxes (103 ) 10 (9,333 ) 3,423 Income tax (benefit) provision (1,257 ) 18 (1,220 ) (3,094 ) Net income (loss) $ 1,154 $ (8 ) $ (8,113 ) $ 6,517 The following table presents a summary of the solar assets and liabilities held for sale included in our Condensed Consolidated Balance Sheets, in thousands: June 30, September 30, Assets (Unaudited) Total current assets $ 17,468 $ 39,379 Property, plant and equipment - net 5,497 5,943 Total assets included in the disposal group 22,965 45,322 Total current liabilities 18,191 29,380 Long-term debt 293 2,418 Total liabilities included in the disposal group 18,484 31,798 Net assets included in the disposal group $ 4,481 $ 13,524 Amtech’s Condensed Consolidated Statement of Cash flows combines cash flows from discontinued operations with cash flows from continuing operations within each cash flow statement category. The following table summarizes selected cash flow information for discontinued operations, in thousands: Nine Months Ended June 30, 2019 2018 (Loss) income from discontinued operations, net of tax $ (8,113 ) $ 6,517 Depreciation and amortization $ 426 $ 561 Provision for (reversal of) allowance for doubtful accounts, net $ 887 $ (9 ) Gain on sale of subsidiary $ 1,614 $ — Purchases of property, plant and equipment $ 118 $ 1,160

Earnings Per Share

Earnings Per Share	9 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS is computed similarly to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potentially dilutive common shares had been issued. In the case of a net loss, diluted earnings per share is calculated in the same manner as basic EPS. For the three and nine months ended June 30, 2019 , options for 819,000 and 1,062,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. For the three and nine months ended June 30, 2018 , options for 679,000 and 428,000 weighted average shares, respectively, were excluded from the diluted EPS calculations because they were anti-dilutive. These shares could become dilutive in the future. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share amounts): Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Numerator: Net income from continuing operations $ 893 $ 4,979 $ 2,153 $ 7,741 Net income (loss) from discontinued operations $ 1,154 $ (8 ) $ (8,113 ) $ 6,517 Net income (loss) $ 2,047 $ 4,971 $ (5,960 ) $ 14,258 Denominator: Weighted-average shares used to compute basic EPS 14,245 14,925 14,231 14,867 Common stock equivalents (1) 71 166 36 314 Weighted-average shares used to compute diluted EPS 14,316 15,091 14,267 15,181 Basic income per share from continuing operations $ 0.06 $ 0.33 $ 0.15 $ 0.52 Basic income (loss) per share from discontinued operations $ 0.08 $ 0.00 $ (0.57 ) $ 0.44 Net income (loss) per basic share $ 0.14 $ 0.33 $ (0.42 ) $ 0.96 Diluted income per share from continuing operations $ 0.06 $ 0.33 $ 0.15 $ 0.51 Diluted income (loss) per share from discontinued operations $ 0.08 $ 0.00 $ (0.57 ) $ 0.43 Net income (loss) per diluted share $ 0.14 $ 0.33 $ (0.42 ) $ 0.94 (1) The number of common stock equivalents is calculated using the treasury method and the average market price during the period.

Inventory

Inventory	9 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventory	Inventory The components of inventories are as follows, in thousands: June 30, September 30, Purchased parts and raw materials $ 10,744 $ 10,989 Work-in-process 4,811 4,159 Finished goods 3,330 2,687 $ 18,885 $ 17,835

Equity and Stock-based Compensa

Equity and Stock-based Compensation	9 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Equity and Stock-based Compensation	Equity and Stock-Based Compensation Stock-based compensation expense was $0.1 million and $0.2 million in the three months ended June 30, 2019 and 2018 , respectively, and was $0.5 million and $0.6 million in the nine months ended June 30, 2019 and 2018 , respectively. Stock-based compensation expense is included in selling, general and administrative expenses. The following table summarizes our stock option activity during the nine months ended June 30, 2019 : Options Weighted Average Exercise Price Outstanding at beginning of period 1,248,758 $ 7.69 Granted 198,850 5.35 Exercised (41,711 ) 4.28 Forfeited (318,757 ) 9.02 Outstanding at end of period 1,087,140 $ 7.01 Exercisable at end of period 831,775 $ 7.49 Weighted average fair value of options granted during the period $ 3.08 As a result of the Separation Agreement entered into with the Company’s former Chief Executive Officer and President (see Note 3), vesting of 12,500 options was accelerated in the first quarter of 2019. Additionally, 122,500 options were unexercised at the end of the 90-day period following the Effective Date and were subsequently modified. The modification allows for an additional nine-month exercise period and resulted in approximately $108,000 of additional stock-based compensation expense, which was recorded in the second quarter of 2019. The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions: Nine Months Ended June 30, 2019 Risk free interest rate 3% Expected life 6 years Dividend rate 0% Volatility 60% On November 29, 2018, we announced that our Board of Directors approved a stock repurchase program, pursuant to which we may repurchase up to $4 million of our outstanding common stock, par value $0.01 per share, over a one -year period. Repurchases under the program will be made in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in compliance with the rules and regulations of the SEC; however, we have no obligation to repurchase shares and the timing, actual number, and value of shares to be repurchased is subject to management’s discretion and will depend on the Company’s stock price and other market conditions. Our Board may terminate the repurchase program at any time while it is in effect. We intend to retire any repurchased shares. There were no shares repurchased during the quarter ended June 30, 2019 .

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended June 30, 2019 and 2018 , we recorded income tax expense at our continuing operations of $0.7 million and $1.4 million , respectively. For the nine months ended June 30, 2019 and 2018 , we recorded income tax expense at our continuing operations of $1.6 million and $2.9 million , respectively. In the three months ended June 30, 2019, we realized an income tax benefit of $1.3 million in our discontinued operations. This tax benefit is due to the tax treatment relating to the sale of SoLayTec. The quarterly income tax provision is calculated using an estimated annual effective tax rate, based upon expected annual income, permanent items, statutory rates and planned tax strategies in the various jurisdictions in which we operate. However, losses in certain jurisdictions and discrete items are treated separately. For the nine months ended June 30, 2018 , we realized an income tax benefit of $3.1 million related to our discontinued operations. This benefit was the result of the resolution of an uncertain tax position in specific tax jurisdictions. We worked with tax experts in the local jurisdictions and in the U.S. to review the transactions and tax laws that resulted in this uncertain tax position, as well as the related interest and penalties. At the conclusion of this review, we determined that the Company is not liable for withholding taxes nor the associated interest and penalties in one of the jurisdictions. Therefore, we reversed the accrued tax, interest and penalties relating to this jurisdiction. Deferred tax assets and liabilities 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. We record a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Our expectations regarding realization of our deferred tax assets is based upon the weight of all available evidence, including such factors as our recent earnings history, expected future taxable income and available tax planning strategies. We established valuation allowances on substantially all net deferred tax assets, after considering all of the available objective evidence, both positive and negative, historical and prospective, with greater weight given to historical evidence, and determined it is not more likely than not that these assets will be realized. We will continue to monitor our cumulative income and loss positions in the U.S. and foreign jurisdictions to determine whether full valuation allowances on net deferred tax assets are appropriate. We classify all of our uncertain tax positions as income taxes payable long-term. At June 30, 2019 and September 30, 2018 , the total amount of unrecognized tax benefits was approximately $1.3 million and $1.2 million , respectively. Income taxes payable long-term includes other items, primarily withholding taxes that are not due until the related intercompany service fees are paid. We classify interest and penalties related to unrecognized tax benefits as income tax expense. As of both June 30, 2019 and September 30, 2018 , we had an accrual for potential interest and penalties of approximately $0.7 million classified with income taxes payable long-term. Amtech and one or more of our subsidiaries file income tax returns in The Netherlands, Germany, France, China and other foreign jurisdictions, as well as in the U.S. and various states in the U.S. We have not signed any agreements with the Internal Revenue Service, any state or foreign jurisdiction to extend the statute of limitations for any fiscal year. As such, the number of open years is the number of years dictated by statute in each of the respective taxing jurisdictions, which generally is from 3 to 5 years.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Obligations – As of June 30, 2019 , we had unrecorded purchase obligations at our continuing operations in the amount of $4.9 million compared to $7.3 million as of September 30, 2018 . These purchase obligations consist of outstanding purchase orders for goods and services. While the amount represents purchase agreements, the actual amounts to be paid may be less in the event that any agreements are renegotiated, canceled or terminated. Legal Proceedings and Other Claims – From time to time, we are a party to claims and actions for matters arising out of our business operations. We regularly evaluate the status of the legal proceedings and other claims in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are appropriate. If accruals are not appropriate, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made for disclosure. Although the outcome of claims and litigation is inherently unpredictable, we believe that we have adequate provisions for any probable and estimable losses. It is possible, nevertheless, that our consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the resolution of a claim or legal proceeding. Legal expenses related to defense, negotiations, settlements, rulings and advice of outside legal counsel are expensed as incurred. In December 2018, we were notified by our customer that the turnkey contract for Phase II has been terminated. As a result, we will not perform the final installation and integration of our equipment under such contract. Negotiations did not result in a final settlement, and the customer has notified us of their intention to pursue arbitration. We have removed the value of this remaining work from our backlog with no material effect on financial condition and results of operations. Employment Contracts – We have employment contracts with, and severance plans covering, certain officers and management employees under which severance payments would become payable in the event of specified terminations without cause or terminations under certain circumstances after a change in control. If severance payments under the current employment contracts or severance plans were to become payable, the severance payments would generally range from twelve to thirty-six months of salary.

Business Segment Information

Business Segment Information	9 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information After announcing the planned divestiture of our Solar segment (see Note 4), we conducted an evaluation of our organizational structure. Beginning with the second quarter of fiscal 2019, we made changes to our reportable segments. Prior period amounts have been revised to conform to the current period segment reporting structure. Our three reportable segments are as follows: Semiconductor – We design, manufacture, sell and service thermal processing equipment and related controls for use by leading semiconductor manufacturers, and in electronics, automotive and other industries. SiC/LED – We produce consumables and machinery for lapping (fine abrading) and polishing of materials, such as sapphire substrates, optical components, silicon wafers, numerous types of crystal materials, ceramics and metal components. We formerly referred to our SiC/LED segment as “Polishing.” Automation – We are a leading supplier of solar and semiconductor automation with in-house design and manufacturing capabilities and offer a full array of single wafer transfer tools as well as batch transfer tools and stocker options. Information concerning our business segments is as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Net Revenues: Semiconductor $ 16,254 $ 23,472 $ 51,267 $ 60,945 SiC/LED 3,074 3,594 9,330 10,720 Automation 1,675 1,677 4,264 5,309 $ 21,003 $ 28,743 $ 64,861 $ 76,974 Operating income (loss): Semiconductor $ 1,951 $ 3,861 $ 6,428 $ 9,122 SiC/LED 607 938 2,253 3,153 Automation (52 ) (195 ) (392 ) (231 ) Non-segment related (1,155 ) (1,778 ) (5,026 ) (4,872 ) $ 1,351 $ 2,826 $ 3,263 $ 7,172 June 30, September 30, Identifiable Assets: Semiconductor $ 60,086 $ 59,744 SiC/LED 7,635 6,545 Automation 2,753 3,586 Non-segment related* 33,987 34,209 Held-for-sale assets** 22,965 45,322 $ 127,426 $ 149,406 *Non-segment related assets include cash, property and other assets. **See Note 4 for additional information on held-for-sale assets. Goodwill and other long-lived assets We review our long-lived assets, including goodwill, for impairment at least annually in our fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Additional information on impairment testing of long-lived assets, intangible assets and goodwill can be found in Notes 1 and 5 of our Annual Report on Form 10-K for the year ended September 30, 2018 .

Major Customers and Foreign Sal

Major Customers and Foreign Sales	9 Months Ended
	Jun. 30, 2019
Geographic Areas, Revenues from External Customers [Abstract]
Major Customers And Foreign Sales	Major Customers and Foreign Sales During the nine months ended June 30, 2019 , one Semiconductor segment customer individually represented 11% of our net revenues. No other customer represented greater than 10% of net revenues. During the nine months ended June 30, 2018 , one Semiconductor segment customer individually represented 16% of our net revenues. Our net revenues were from customers in the following geographic regions: Nine Months Ended June 30, 2019 2018 United States 36 % 21 % Other 5 % 3 % Total North America 41 % 24 % China 18 % 28 % Malaysia 5 % 7 % Taiwan 10 % 9 % Other 6 % 4 % Total Asia 39 % 48 % Germany 9 % 12 % Other 11 % 16 % Total Europe 20 % 28 % 100 % 100 %

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation – Amtech Systems, Inc. (the “Company,” “Amtech,” “we,” “our” or “us”) is a leading, global manufacturer of capital equipment, including thermal processing and wafer handling automation, and related consumables used in fabricating semiconductor devices, light-emitting diodes, or LEDs, silicon carbide (SiC) and silicon power chips and solar cells. We sell these products to semiconductor and solar cell manufacturers worldwide, particularly in Asia, the United States and Europe. We serve niche markets in industries that are experiencing rapid technological advances and which historically have been very cyclical. Therefore, future profitability and growth depend on our ability to develop or acquire and market profitable new products and on our ability to adapt to cyclical trends. In the second quarter of fiscal 2019, we began the process to divest our solar business. As such, we have classified substantially all of the Solar segment as held for sale in our Condensed Consolidated Balance Sheets and reported its results as discontinued operations in our Condensed Consolidated Statements of Operations. For additional information on the divestiture, see Note 4. For additional information on our segments, see Note 10. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”), and consequently do not include all disclosures normally required by accounting principles generally accepted in the United States of America. In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements contain all adjustments necessary, all of which are of a normal and recurring nature, to present fairly our financial position, results of operations and cash flows. Certain information and note disclosures normally included in financial statements have been condensed or omitted pursuant to the rules and regulations of the SEC. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 . Our fiscal year is from October 1 to September 30. Unless otherwise stated, references to the years 2019 and 2018 relate to the fiscal years ended September 30, 2019 and 2018, respectively. The consolidated results of operations for the three and nine months ended June 30, 2019 , are not necessarily indicative of the results to be expected for the full fiscal year.
Principles of Consolidation	Principles of Consolidation – The consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries.
Use of Estimates	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.
Concentrations of Credit Risk	Concentrations of Credit Risk – Our customers consist primarily of semiconductor manufacturers worldwide, as well as the lapping and polishing marketplace. Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and trade accounts receivable. 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. As of June 30, 2019 , one Semiconductor segment customer individually represented 10% of accounts receivable. As of September 30, 2018 , one Semiconductor customer individually represented 16% of accounts receivable. We maintain our cash, cash equivalents and restricted cash in multiple financial institutions. Balances in the United States, which account for approximately 77% and 88% of total cash balances at our continuing operations as of June 30, 2019 and September 30, 2018 , respectively, are primarily invested in U.S. Treasuries or are in financial institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). The remainder of our cash is maintained with financial institutions with reputable credit ratings in the Netherlands, China, France, the United Kingdom, Singapore and Malaysia.
Impact of Recently Issued Accounting Pronouncements	Impact of Recently Issued Accounting Pronouncements See Note 2 for information on our adoption of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), which amends the existing accounting standards for revenue recognition. The adoption of ASC 606 did not have a material effect on our results of operations. In November 2016, the FASB issued Accounting Standard Update (“ASU”) 2016-18, “Statement of Cash Flows: Restricted Cash.” The amendments address diversity in practice that exists in the classification and presentation of changes in restricted cash and require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. We adopted this standard retrospectively effective October 1, 2018, and, accordingly, to conform to the current period presentation, we reclassified our restricted cash to be included in the total of cash and cash equivalents presented at the bottom of our consolidated statements of cash flows for both the beginning and ending periods for our nine months ended June 30, 2019 and 2018 . As a result, the amount of the change in our net cash provided by operating activities no longer separately shows the change in restricted cash for either period. The following table summarizes the effects related to the adoption of ASU 2016-18 for the nine months ended June 30, 2018 : June 30, 2018 As reported As adjusted Net cash used in operating activities $ (2,647 ) $ (20,603 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash $ (572 ) $ (380 ) Net Decrease in Cash, Cash Equivalents and Restricted Cash $ (2,392 ) $ (20,156 ) Cash, Cash Equivalents and Restricted Cash, Beginning of Period $ 51,121 $ 75,761 Cash, Cash Equivalents and Restricted Cash, End of Period $ 48,729 $ 55,605 There have been no other material changes or additions to the recently issued accounting standards other than those previously reported in Note 1 to our Condensed Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended September 30, 2018 that affect or may affect our financial statements.
Revenue Recognition	Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration expected to be received in exchange for those goods or services. A performance obligation is a promise in a contract to transfer a product or service to the customer. The transaction price of a contract is allocated to each distinct performance obligation based upon the relative standalone selling price for each performance obligation and is recognized as revenue upon satisfaction of the performance obligation. We implemented ASC 606 as of October 1, 2018 using the modified retrospective approach with no cumulative effect adjustment recorded to the opening balance of retained deficit. Prior period amounts have not been restated and continue to be reported under the accounting standards in effect for those periods. Upon adoption of ASC 606, we changed our accounting policy for the installation performance obligation included in all solar system sales. Previously under ASC 605, we deferred revenue for the fair value of the installation and recognized it when earned. Under ASC 606, we will no longer record a deferral but will continue to recognize the revenue when earned. This change in policy does not result in a change in the amount of revenue recorded; instead, it removes the installation liability from our balance sheet. To achieve the core principle of the standard, we apply the following five steps: 1) Identify the contract with the customer A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the goods or services to be transferred and identifies the related payment terms, (ii) the contract has commercial substance, and (iii) the Company determines that collection of substantially all consideration for goods and services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the goods and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the good or service either on its own or together with other available resources, and are distinct in the context of the contract, whereby the transfer of the good or service is separately identifiable from other promises to the customer in the contract. To the extent a contract includes multiple promised goods and services, the Company must apply judgment to determine whether promised goods and services are capable of being distinct and distinct in the context of the contract. If these criteria are not met, the promised goods and services are accounted for as a combined performance obligation. Our equipment sales consist of multiple performance obligations, including the system itself and obligations that are not delivered simultaneously with the system, primarily installation services. Customers who purchase new systems are provided an assurance-type warranty, generally for periods of 12 to 24 months. In accordance with ASC 606, assurance-type warranties are not considered a performance obligation. 3) Determine the transaction price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring goods and services to the customer. The transaction price for equipment sales is adjusted for estimated product returns that we expect to occur under our return policy based upon past return rates, which have historically been immaterial. In rare cases when the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing either the expected value method or the most likely amount method depending on the nature of the variable consideration. Any estimates, including the effect of the constraint on variable consideration, are evaluated at each reporting period for any changes. The transaction price for all transactions is based on the price reflected in the individual customer’s purchase order. Variable consideration has not been identified as a significant component of the transaction price for any of our transactions. The Company has determined that most contracts will be completed in less than one year. For those transactions where all performance obligations will be satisfied within one year or less, the Company is applying the practical expedient outlined in ASC 606-10-32-18. This practical expedient allows the Company not to adjust promised consideration for the effects of a significant financing component if the Company expects at contract inception the period between when the Company transfers the promised good or service to a customer and when the customer pays for that good or service will be one year or less. For those transactions that are expected to be completed after one year, the Company has assessed that there are no significant financing components because any difference between the promised consideration and the cash selling price of the good or service is for reasons other than the provision of financing. 4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple distinct performance obligations require an allocation of the transaction price to each distinct performance obligation on a relative standalone selling price basis unless the transaction price is variable and meets the criteria to be allocated entirely to each distinct performance obligation or to a distinct service that forms part of a single performance obligation. Where required, the Company determines the standalone selling price (“SSP”) for each performance obligation based on consideration of both market and Company specific factors, including the selling price and profit margin for similar products. For those contracts that contain multiple performance obligations (primarily system sales requiring installation services), the Company must determine the SSP. To determine the SSP for labor related performance obligations (such as the labor component of installation), the Company used directly observable inputs based on the standalone sale prices for these services. The Company used a cost plus margin approach in determining the SSP for any materials related performance obligations (e.g., system add-ons, spare parts, and systems). 5) Recognize revenue when, or as, the Company satisfied a performance obligation The Company satisfies performance obligations either over time or at a point in time. Revenue is recognized over time if either 1) the customer simultaneously receives and consumes the benefits provided by the entity’s performance, 2) the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced, or 3) the entity’s performance does not create an asset with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date. If the entity does not satisfy a performance obligation over time, the related performance obligation is satisfied at a point in time by transferring the control of a promised good or service to a customer. Examples of control are using the asset to produce goods or services, enhance the value of other assets, settle liabilities, and holding or selling the asset. For over time recognition, ASC 606 requires the Company to select a single revenue recognition method for the performance obligation that faithfully depicts the Company’s performance in transferring control of the goods and services. The guidance allows entities to choose between two methods to measure progress toward complete satisfaction of a performance obligation: Output methods - recognize revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract (e.g., surveys of performance completed to date, appraisals of results achieved, milestones reached, time elapsed, and units of produced or units delivered); and Input methods - recognize revenue on the basis of the entity’s efforts or inputs to the satisfaction of a performance obligation (e.g., resources consumed, labor hours expended, costs incurred, or time elapsed) relative to the total expected inputs to the satisfaction of that performance obligation. Equipment and related product revenues (e.g., furnace systems, system add-ons, machinery, consumables and spare parts) are recognized at a point in time, when they are shipped or delivered, depending on contractual terms. 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. For installation services, revenue is recognized at a point in time, once the installation of the tool is complete. The nature of the installation services are such that the customer does not simultaneously receive and consume the benefits provided by the entity’s performance, nor does performance of installation services create or enhance an asset that the customer controls. Installation services do not create an asset with an alternative use to the entity, and the entity does not have an enforceable right to payment for performance completed to date. Maintenance and service contracts are recognized over time. Progress in the satisfaction of these performance obligations will be measured using an input method of either time elapsed in the case of fixed period contracts, or labor hours expended, in the case of project-based contracts. Cost to Obtain and Fulfill a Contract with a Customer The Company recognizes an asset related to incremental costs of obtaining a contract with a customer if the Company expects to recover those costs. The Company will recognize an asset from costs incurred to fulfill a contract only if such costs relate directly to a contract that the entity can specifically identify, the costs generate or enhance resources of the Company that will be used in satisfying performance obligations in the future, and the costs are expected to be recovered. Any assets recognized related to costs to obtain or fulfill a contract are amortized to selling, general and administrative expense on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. In substantially all of our business transactions, we incur incremental costs to obtain contracts with customers, in the form of sales commissions. We maintain a commission program which rewards our sales representatives for system sales and our employees for system sales and other individual goals. Under ASC 606, an asset shall be amortized on a systematic basis that is consistent with the transfer to the customer of the goods or services to which the asset relates. However, ASC 606 provides a practical expedient to allow for the recognition of commission expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. Based on the nature of the Company’s contracts with customers, we have elected this practical expedient and expense all commissions as incurred based upon the expectation that the amortization period would be one year or less. Revenue Categories used by Management Management reviews disaggregated revenue at the operating segment level. Revenue-generating transactions vary between our operating segments due to several factors. For example, lead times vary among our operating segments and among our products. Most of the revenue for our SiC/LED segment results from the sale of consumables, rather than equipment sales. These consumables have a much shorter production period than equipment produced by our other operating segments. Due to these variations between operating segments, management determined that disaggregated revenue by segment sufficiently depicts how economic factors affect the nature, amount, timing and uncertainty of our revenue and cash flows.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Research and Development Expense	The table below shows gross research and development expenses and grants earned, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Research, development and engineering $ 790 $ 582 $ 2,369 $ 2,035 Grants earned (44 ) — (44 ) — Net research, development and engineering $ 746 $ 582 $ 2,325 $ 2,035
Effect of Adoption of New Accounting Pronouncement	The following table summarizes the effects related to the adoption of ASU 2016-18 for the nine months ended June 30, 2018 : June 30, 2018 As reported As adjusted Net cash used in operating activities $ (2,647 ) $ (20,603 ) Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash $ (572 ) $ (380 ) Net Decrease in Cash, Cash Equivalents and Restricted Cash $ (2,392 ) $ (20,156 ) Cash, Cash Equivalents and Restricted Cash, Beginning of Period $ 51,121 $ 75,761 Cash, Cash Equivalents and Restricted Cash, End of Period $ 48,729 $ 55,605

Contracts with Customers (Table

Contracts with Customers (Tables)	9 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The components of contract assets are as follows, in thousands: June 30, Unbilled accounts receivable $ 55 Contract assets $ 55 The components of contract liabilities are as follows, in thousands: June 30, September 30, Customer deposits $ 2,561 $ 1,519 Contract liabilities $ 2,561 $ 1,519

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Activity	The table below details the activity for the nine months ended June 30, 2019 related to the above action as well as additional headcount reductions as we consolidated satellite offices in our Semiconductor segment and the outstanding obligations as of June 30, 2019 , in thousands: Nine Months Ended June 30, 2019 Balance at September 30, 2018 $ — Severance expense, net of adjustments 1,072 Cash payments (1,041 ) Balance at June 30, 2019 $ 31

Assets Held for Sale and Disc_2

Assets Held for Sale and Discontinued Operations (Tables)	9 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Operating results of our discontinued solar operations were as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Revenues, net of returns and allowances $ 5,268 $ 12,457 $ 19,649 $ 70,620 Cost of sales 4,374 8,041 19,726 52,684 Gross profit (loss) 894 4,416 (77 ) 17,936 Selling, general and administrative 1,735 2,766 7,412 10,081 Research, development and engineering 736 1,540 2,647 4,260 Restructuring charges (3 ) — 598 — Operating (loss) income (1,574 ) 110 (10,734 ) 3,595 Gain on sale of subsidiary 1,614 — 1,614 — Interest expense and other, net (143 ) (100 ) (213 ) (172 ) (Loss) income from discontinued operations before income taxes (103 ) 10 (9,333 ) 3,423 Income tax (benefit) provision (1,257 ) 18 (1,220 ) (3,094 ) Net income (loss) $ 1,154 $ (8 ) $ (8,113 ) $ 6,517 The following table presents a summary of the solar assets and liabilities held for sale included in our Condensed Consolidated Balance Sheets, in thousands: June 30, September 30, Assets (Unaudited) Total current assets $ 17,468 $ 39,379 Property, plant and equipment - net 5,497 5,943 Total assets included in the disposal group 22,965 45,322 Total current liabilities 18,191 29,380 Long-term debt 293 2,418 Total liabilities included in the disposal group 18,484 31,798 Net assets included in the disposal group $ 4,481 $ 13,524 The following table summarizes selected cash flow information for discontinued operations, in thousands: Nine Months Ended June 30, 2019 2018 (Loss) income from discontinued operations, net of tax $ (8,113 ) $ 6,517 Depreciation and amortization $ 426 $ 561 Provision for (reversal of) allowance for doubtful accounts, net $ 887 $ (9 ) Gain on sale of subsidiary $ 1,614 $ — Purchases of property, plant and equipment $ 118 $ 1,160

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share amounts): Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Numerator: Net income from continuing operations $ 893 $ 4,979 $ 2,153 $ 7,741 Net income (loss) from discontinued operations $ 1,154 $ (8 ) $ (8,113 ) $ 6,517 Net income (loss) $ 2,047 $ 4,971 $ (5,960 ) $ 14,258 Denominator: Weighted-average shares used to compute basic EPS 14,245 14,925 14,231 14,867 Common stock equivalents (1) 71 166 36 314 Weighted-average shares used to compute diluted EPS 14,316 15,091 14,267 15,181 Basic income per share from continuing operations $ 0.06 $ 0.33 $ 0.15 $ 0.52 Basic income (loss) per share from discontinued operations $ 0.08 $ 0.00 $ (0.57 ) $ 0.44 Net income (loss) per basic share $ 0.14 $ 0.33 $ (0.42 ) $ 0.96 Diluted income per share from continuing operations $ 0.06 $ 0.33 $ 0.15 $ 0.51 Diluted income (loss) per share from discontinued operations $ 0.08 $ 0.00 $ (0.57 ) $ 0.43 Net income (loss) per diluted share $ 0.14 $ 0.33 $ (0.42 ) $ 0.94 (1) The number of common stock equivalents is calculated using the treasury method and the average market price during the period.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Components of Inventory	The components of inventories are as follows, in thousands: June 30, September 30, Purchased parts and raw materials $ 10,744 $ 10,989 Work-in-process 4,811 4,159 Finished goods 3,330 2,687 $ 18,885 $ 17,835

Equity and Stock-based Compen_2

Equity and Stock-based Compensation (Tables)	9 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Share-based Compensation, Stock Options, Activity	The following table summarizes our stock option activity during the nine months ended June 30, 2019 : Options Weighted Average Exercise Price Outstanding at beginning of period 1,248,758 $ 7.69 Granted 198,850 5.35 Exercised (41,711 ) 4.28 Forfeited (318,757 ) 9.02 Outstanding at end of period 1,087,140 $ 7.01 Exercisable at end of period 831,775 $ 7.49 Weighted average fair value of options granted during the period $ 3.08
Fair Value Assumptions	The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions: Nine Months Ended June 30, 2019 Risk free interest rate 3% Expected life 6 years Dividend rate 0% Volatility 60%

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Business Segment Information	Information concerning our business segments is as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2019 2018 2019 2018 Net Revenues: Semiconductor $ 16,254 $ 23,472 $ 51,267 $ 60,945 SiC/LED 3,074 3,594 9,330 10,720 Automation 1,675 1,677 4,264 5,309 $ 21,003 $ 28,743 $ 64,861 $ 76,974 Operating income (loss): Semiconductor $ 1,951 $ 3,861 $ 6,428 $ 9,122 SiC/LED 607 938 2,253 3,153 Automation (52 ) (195 ) (392 ) (231 ) Non-segment related (1,155 ) (1,778 ) (5,026 ) (4,872 ) $ 1,351 $ 2,826 $ 3,263 $ 7,172 June 30, September 30, Identifiable Assets: Semiconductor $ 60,086 $ 59,744 SiC/LED 7,635 6,545 Automation 2,753 3,586 Non-segment related* 33,987 34,209 Held-for-sale assets** 22,965 45,322 $ 127,426 $ 149,406 *Non-segment related assets include cash, property and other assets. **See Note 4 for additional information on held-for-sale assets.

Major Customers and Foreign S_2

Major Customers and Foreign Sales (Tables)	9 Months Ended
	Jun. 30, 2019
Geographic Areas, Revenues from External Customers [Abstract]
Revenues by Geographic Region	Our net revenues were from customers in the following geographic regions: Nine Months Ended June 30, 2019 2018 United States 36 % 21 % Other 5 % 3 % Total North America 41 % 24 % China 18 % 28 % Malaysia 5 % 7 % Taiwan 10 % 9 % Other 6 % 4 % Total Asia 39 % 48 % Germany 9 % 12 % Other 11 % 16 % Total Europe 20 % 28 % 100 % 100 %

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Shipping Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Shipping expense	$ 5,718	$ 6,775	$ 18,137	$ 19,518
Shipping and Handling
Disaggregation of Revenue [Line Items]
Shipping expense	$ 200	$ 200	$ 600	$ 600

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Research and Development Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Research, development and engineering	$ 790	$ 582	$ 2,369	$ 2,035
Grants earned	(44)	0	(44)	0
Net research, development and engineering	$ 746	$ 582	$ 2,325	$ 2,035

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Concentrations of Credit Risk (Details)	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
Cash and Cash Equivalents and Restricted Cash | US Treasuries and FDIC Insured
Concentration Risk [Line Items]
Concentration risk, percentage	77.00%	88.00%
Customer One | Accounts Receivable | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	16.00%

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Effect of New Accounting Pronouncement (Details) - USD ($) $ in Thousands		9 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in operating activities		$ 421	$ (20,603)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash		(1,450)	(380)
Net Decrease in Cash, Cash Equivalents and Restricted Cash		(2,789)	(20,156)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	[1]	59,707	55,605	$ 62,496	$ 75,761
Cash, Cash Equivalents and Restricted Cash, End of Period	[1]	$ 59,707	55,605	$ 62,496	75,761
As reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in operating activities			(2,647)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash			(572)
Net Decrease in Cash, Cash Equivalents and Restricted Cash			(2,392)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period			48,729		51,121
Cash, Cash Equivalents and Restricted Cash, End of Period			$ 48,729		$ 51,121
[1]	Includes Cash, Cash Equivalents and Restricted Cash that are included in Held-For-Sale Assets on the Condensed Consolidated Balance Sheets.

Contracts with Customers (Detai

Contracts with Customers (Details)	9 Months Ended
	Jun. 30, 2019segment
Disaggregation of Revenue [Line Items]
Number of reportable segments	3
Warranty period	12 months
Period of contract	1 year
Amortization period	1 year
Semiconductor | Minimum
Disaggregation of Revenue [Line Items]
Percentage of contract price	80.00%
Semiconductor | Maximum
Disaggregation of Revenue [Line Items]
Percentage of contract price	90.00%
Equipment Sales | Minimum
Disaggregation of Revenue [Line Items]
Warranty period	12 months
Equipment Sales | Maximum
Disaggregation of Revenue [Line Items]
Warranty period	24 months

Contracts with Customers - Cont

Contracts with Customers - Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 55	$ 0

Contracts with Customers - Co_2

Contracts with Customers - Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Capitalized Contract Cost [Line Items]
Contract liabilities	$ 2,561	$ 1,519
Customer deposits
Capitalized Contract Cost [Line Items]
Contract liabilities	$ 2,561	$ 1,519

Restructuring - Narrative (Deta

Restructuring - Narrative (Details)	Nov. 28, 2018USD ($)$ / shares
Restructuring and Related Activities [Abstract]
Severance payment	$ 864,000
Payment of other amounts due	$ 458,500
Exercise price (USD per share) | $ / shares	$ 7.01
Exercise period	90 days

Restructuring - Restructuring A

Restructuring - Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring Reserve [Roll Forward]
Balance at September 30, 2018			$ 0
Severance expense, net of adjustments	$ 35	$ 0	1,072	$ 0
Cash payments			(1,041)
Balance at June 30, 2019	$ 31		$ 31

Assets Held for Sale and Disc_3

Assets Held for Sale and Discontinued Operations - Narrative (Details) - USD ($)	Jun. 07, 2019	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
One-time costs to tell		$ 0	$ 6,000
Gain on sale of subsidiary		1,614,000	0
Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of subsidiary		$ 1,614,000	$ 0
SoLayTec | Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of subsidiary	$ 1,600,000
Scenario, Forecast | Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
One-time costs to tell				$ 750,000
Scenario, Forecast | Broker Fees | Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
One-time costs to tell				500,000
Scenario, Forecast | Legal Fees | Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
One-time costs to tell				$ 250,000

Assets Held for Sale and Disc_4

Assets Held for Sale and Discontinued Operations - Operating Results of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax (benefit) provision	$ (1,300)			$ (3,100)
Net income (loss)	1,154	$ (8)	$ (8,113)	6,517
Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues, net of returns and allowances	5,268	12,457	19,649	70,620
Cost of sales	4,374	8,041	19,726	52,684
Gross profit (loss)	894	4,416	(77)	17,936
Selling, general and administrative	1,735	2,766	7,412	10,081
Research, development and engineering	736	1,540	2,647	4,260
Restructuring charges	(3)	0	598	0
Operating (loss) income	(1,574)	110	(10,734)	3,595
Gain on sale of subsidiary	1,614	0	1,614	0
Interest expense and other, net	(143)	(100)	(213)	(172)
(Loss) income from discontinued operations before income taxes	(103)	10	(9,333)	3,423
Income tax (benefit) provision	(1,257)	18	(1,220)	(3,094)
Net income (loss)	$ 1,154	$ (8)	$ (8,113)	$ 6,517

Assets Held for Sale and Disc_5

Assets Held for Sale and Discontinued Operations - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Assets
Total current assets	$ 22,965	$ 45,322
Total current liabilities	18,484	31,798
Tempress | Discontinued Operations, Held-for-sale
Assets
Total current assets	17,468	39,379
Property, plant and equipment - net	5,497	5,943
Total assets included in the disposal group	22,965	45,322
Total current liabilities	18,191	29,380
Long-term debt	293	2,418
Total liabilities included in the disposal group	18,484	31,798
Net assets included in the disposal group	$ 4,481	$ 13,524

Assets Held for Sale and Disc_6

Assets Held for Sale and Discontinued Operations - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) income from discontinued operations, net of tax	$ 1,154	$ (8)	$ (8,113)	$ 6,517
Provision for (reversal of) allowance for doubtful accounts, net			1,104	64
Gain on sale of subsidiary			1,614	0
Tempress and SoLayTec | Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Loss) income from discontinued operations, net of tax	$ 1,154	$ (8)	(8,113)	6,517
Depreciation and amortization			426	561
Provision for (reversal of) allowance for doubtful accounts, net			887	(9)
Gain on sale of subsidiary			1,614	0
Purchases of property, plant and equipment			$ 118	$ 1,160

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Income from continuing operations, net of tax	$ 893			$ 4,979			$ 2,153	$ 7,741
Income (loss) from discontinued operations, net of tax	1,154			(8)			(8,113)	6,517
Net income (loss)	$ 2,047	$ (5,635)	$ (2,372)	$ 4,971	$ 2,835	$ 6,452	$ (5,960)	$ 14,258
Denominator:
Weighted-average shares used to compute basic EPS (in shares)	14,245			14,925			14,231	14,867
Common stock equivalents (in shares)	71			166			36	314
Weighted-average shares used to compute diluted EPS (in shares)	14,316			15,091			14,267	15,181
Basic income per share from continuing operations (USD per share)	$ 0.06			$ 0.33			$ 0.15	$ 0.52
Basic (loss) income per share from discontinued operations (USD per share)	0.08			0			(0.57)	0.44
Net (loss) income per basic share (USD per share)	0.14			0.33			(0.42)	0.96
Diluted income per share from continuing operations (USD per share)	0.06			0.33			0.15	0.51
Diluted (loss) income per share from discontinued operations (USD per share)	0.08			0			(0.57)	0.43
Net income (loss) per diluted share (USD per share)	$ 0.14			$ 0.33			$ (0.42)	$ 0.94
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	819			679			1,062	428

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Sep. 30, 2018
Inventory Disclosure [Abstract]
Purchased parts and raw materials	$ 10,744	$ 10,989
Work-in-process	4,811	4,159
Finished goods	3,330	2,687
Inventory	$ 18,885	$ 17,835

Equity and Stock-based Compen_3

Equity and Stock-based Compensation Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 29, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Class of Stock [Line Items]
Share-based compensation expense		$ 100	$ 200	$ 474	$ 632
Stock-based compensation expense		$ 108
Authorized stock repurchase amount	$ 4,000
Common stock, par value (USD per share)	$ 0.01	$ 0.01		$ 0.01		$ 0.01
Stock repurchase program period	1 year
Shares repurchased (in shares)		0
Stock Options
Class of Stock [Line Items]
Accelerated vesting of options (in shares)		12,500
Options subject to modification (in shares)		122,500

Equity and Stock-based Compen_4

Equity and Stock-based Compensation Stock Option Activity (Details) - Stock Options - $ / shares	9 Months Ended
	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	1,248,758
Granted (in shares)	198,850
Exercised (in shares)	41,711
Forfeited (in shares)	(318,757)
Outstanding at end of period (in shares)	1,087,140
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (USD per share)	$ 7.69
Granted (USD per share)	5.35
Exercised (USD per share)	4.28
Forfeited (USD per share)	9.02
Outstanding at end of period (USD per share)	$ 7.01
Exercisable at end of period (in shares)	831,775
Exercisable at end of period, weighted average exercise price (USD per share)	$ 7.49
Weighted average fair value of options granted during the period	$ 3.08

Equity and Stock-based Compen_5

Equity and Stock-based Compensation Fair Value Assumptions (Details)	9 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Risk free interest rate	3.00%
Expected life	6 years
Dividend rate	0.00%
Volatility	60.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Income Tax Contingency [Line Items]
Income tax expense	$ 707	$ 1,372	$ 1,621	$ 2,944
Income tax benefit from discontinued operations	1,300			$ 3,100
Unrecognized tax benefits that would impact effective tax rate	1,300		1,300		$ 1,200
Unrecognized tax benefits, income tax penalties and interest accrued	$ 700		$ 700		$ 700
Minimum
Income Tax Contingency [Line Items]
Number of years open for tax examinations			3 years
Maximum
Income Tax Contingency [Line Items]
Number of years open for tax examinations			5 years

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
Schedule of Equity Method Investments [Line Items]
Purchase obligation	$ 4.9	$ 7.3
Minimum
Schedule of Equity Method Investments [Line Items]
Severance payment term	12 months
Maximum
Schedule of Equity Method Investments [Line Items]
Severance payment term	36 months

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Sep. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			3
Net revenues	$ 21,003	$ 28,743	$ 64,861	$ 76,974
Operating income (loss)	1,351	2,826	3,263	7,172
Identifiable assets	127,426		127,426		$ 149,406
Operating Segments | Semiconductor
Segment Reporting Information [Line Items]
Net revenues	16,254	23,472	51,267	60,945
Operating income (loss)	1,951	3,861	6,428	9,122
Identifiable assets	60,086		60,086		59,744
Operating Segments | SiC/LED
Segment Reporting Information [Line Items]
Net revenues	3,074	3,594	9,330	10,720
Operating income (loss)	607	938	2,253	3,153
Identifiable assets	7,635		7,635		6,545
Operating Segments | Automation
Segment Reporting Information [Line Items]
Net revenues	1,675	1,677	4,264	5,309
Operating income (loss)	(52)	(195)	(392)	(231)
Identifiable assets	2,753		2,753		3,586
Non-Segment
Segment Reporting Information [Line Items]
Operating income (loss)	(1,155)	$ (1,778)	(5,026)	$ (4,872)
Identifiable assets	33,987		33,987		34,209
Discontinued Operations
Segment Reporting Information [Line Items]
Identifiable assets	$ 22,965		$ 22,965		$ 45,322

Major Customers and Foreign S_3

Major Customers and Foreign Sales (Details) - Net Revenues	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Customer Concentration Risk | Customer One
Revenue, Major Customer [Line Items]
Concentration risk, percentage	11.00%	16.00%
Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage	100.00%	100.00%
Geographic Concentration Risk | United States
Revenue, Major Customer [Line Items]
Concentration risk, percentage	36.00%	21.00%
Geographic Concentration Risk | Other North America
Revenue, Major Customer [Line Items]
Concentration risk, percentage	5.00%	3.00%
Geographic Concentration Risk | Total North America
Revenue, Major Customer [Line Items]
Concentration risk, percentage	41.00%	24.00%
Geographic Concentration Risk | China
Revenue, Major Customer [Line Items]
Concentration risk, percentage	18.00%	28.00%
Geographic Concentration Risk | Malaysia
Revenue, Major Customer [Line Items]
Concentration risk, percentage	5.00%	7.00%
Geographic Concentration Risk | Taiwan
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10.00%	9.00%
Geographic Concentration Risk | Other Asia
Revenue, Major Customer [Line Items]
Concentration risk, percentage	6.00%	4.00%
Geographic Concentration Risk | Total Asia
Revenue, Major Customer [Line Items]
Concentration risk, percentage	39.00%	48.00%
Geographic Concentration Risk | Germany
Revenue, Major Customer [Line Items]
Concentration risk, percentage	9.00%	12.00%
Geographic Concentration Risk | Other Europe
Revenue, Major Customer [Line Items]
Concentration risk, percentage	11.00%	16.00%
Geographic Concentration Risk | Total Europe
Revenue, Major Customer [Line Items]
Concentration risk, percentage	20.00%	28.00%