Axcelis Technologies Inc (NASDAQ:ACLS) has received repeat orders for its ion implantation system called Purion XE from multiple foundry manufacturers in Asia. The company didn’t disclose the identity of the Asian foundries that have reordered the system, but management said that it sees an opportunity to expand market share in the region. Axcelis said the orders will be delivered this quarter.

Application in IoT market

Axcelis said that the Purion XE systems ordered by the Asian foundries will be used in the production of specialty devices for image sensors and the Internet of Things (IoT) markets.

IoT is a rapidly growing industry and the repeat orders for Axcelis’ systems are a positive sign that the company has the right product to enable it to ride the potentially lucrative IoT wave. It is estimated that there will be 24 billion IoT devices in the world by 2020. About $6 trillion is expected to be spent on IoT solutions such as ACLS’s Purion XE over the next five years.

Expanding market share

The latest follow-on order for Purion XE from the Asian foundries has boosted confidence in Axcelis Technologies Inc (NASDAQ:ACLS) that the company has room to expand its market share in the Asian region. In particular, Axcelis hopes to capitalize on the growing demand for specialty devices.

Axcelis claims it has created a portfolio of broad energy range systems that have become the choice of foundries. As such, it hopes the distinction of its products will provide another avenue to gain more market share.

Axcelis systems are available in 200mm and 300mm configurations.

Earnings exceed expectations

On May 2, Axcelis Technologies Inc (NASDAQ:ACLS) reported its 1Q2016 earnings. The EPS of $0.02 for the quarter topped the consensus estimate of $0.01. Revenue of $67.5 million bested the consensus estimate of $65.9 million. Management guided for revenue in the vicinity of $60 million for Q2.