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Axcelis Technologies, Inc.
55 Cherry Hill Drive, Beverly, MA 01915 * (978) 232-4000
Business Description The company is a leading producer of ion implementation equipment used in the fabrication of semiconductors.
Offering
Information

Company has
gone public

Trading As  ACLS (NASNTL) Industry  Manufacturing (SIC 3559)
Type of Stock Offered  Common Shares Filing Date  5/4/2000
Domestic Shares Offered  15,500,000 Offer Date  7/10/2000
Foreign Shares Offered  0 Filing Range  $20.00 - $22.00
Company Shares  15,500,000 Offer Price  $22.00
Selling Shrhldrs Shares  0 Gross Spread  $1.320
Gross Proceeds  $341,000,000 Selling  $0.800
Expenses  - - Reallowance  $0.100
Post-IPO Shares  95,500,000 Employees  - -
Spun out from Eaton
Primary
Underwriting
Group
Underwriter NameParticipationUnderwriter Phone
Goldman, Sachs & Co. Lead Manager (212) 902-5959
Morgan Stanley Dean Witter Co-manager (212) 761-5900
Salomon Smith Barney Co-manager (212) 723-7300
Income
Statement
and
Cash Flow
Summary
  Prior
Audited
Income
Latest
Unaudited
Income
  Full Year Audited Figures 3 Months Ending
Figures in U.S. millions except per share data 12/31/1995 12/31/1996 12/31/1997 12/31/1998 12/31/1999 3/31/1999 3/31/2000
Revenues   385.080 448.663 460.010 265.709 397.267 59.124 143.051
Income from Oper.   58.832 43.002 -72.035 -137.909 12.333 -12.434 18.401
Net Income   48.621 46.304 -61.467 -82.047 14.428 -10.375 18.862
E.P.S   - - - - - - -
Revenue Growth (%)      16.51 2.53 -42.24 49.512   141.95
Net Income Growth (%)      -4.77 - - -   -
Oper. Profit Margin (%)    15.28 9.58 - - 3.10 12.86 -
Net Profit Margin (%)    12.63 10.32 - - 3.63 13.19 -
Cash Flow - Oper.     -39.11 -22.91 -11.15
Cash Flow - Inv.     -19.12 -5.90 -0.62
Cash Flow - Fin.     58.42 28.07 11.04
Balance Sheet
Summary
and
Financial
Ratios
Balance sheet as of: 3/31/2000 Financial Ratios
Total Assets    457.58 Current Assets    270.49 Current Ratio    3.74
Total Liab.    85.87 Current Liab.    72.23 Debt Ratio    18.76%
Total Equity    371.72 Working Cap.    198.26 Debt to Equity Ratio    0.23
Cash    2.80    Return on Assets   4.12%
Use Of
Proceeds
The proceeds from the proposed offering will be used for the payment of a previously declared dividend payable to Eaton and for general corporate purposes.
Legal Counsel
Registrar
Auditor
Issuer's Law Firm  Kirkpatrick & Lockhart
Bank's Law Firm  Shearman & Sterling
Registrar/Transfer Agent  EquiServe
Auditor  Ernst & Young
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Principal
Shareholders
Name of Shareholder% Owned
Before
% Owned
After
Eaton 100.00  
Note: represents ownership of 5% or more prior to the offering.

Last updated: 7/23/2000 3:07:03 PM
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