|
|
|||
(State or Other Jurisdiction of Incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
||
|
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading symbol
|
Name of each exchange on which registered
|
||
|
|
Item 2.02.
|
Results of Operations and Financial Condition.
|
Item 9.01
|
Financial Statements and Exhibits.
|
(d)
|
Exhibits.
|
Exhibit
|
Description
|
|
Press release of ACM Research, Inc. dated February 25, 2021
|
||
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document)
|
ACM RESEARCH, INC.
|
||
By:
|
/s/ Mark McKechnie
|
|
Mark McKechnie
|
||
Chief Financial Officer and Treasurer
|
||
Dated: February 25, 2021
|
Three Months Ended December 31,
|
||||||||||||||||
GAAP | Non-GAAP(1) | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
(dollars in thousands, except per share data)
|
||||||||||||||||
Revenue
|
$
|
45,562
|
$
|
24,608
|
$
|
45,562
|
$
|
24,608
|
||||||||
Gross margin
|
43.2
|
%
|
50.6
|
%
|
43.3
|
%
|
50.7
|
%
|
||||||||
Income from operations
|
$
|
5,432
|
$
|
3,849
|
$
|
6,737
|
$
|
4,502
|
||||||||
Net income attributable to ACM Research, Inc.
|
$
|
8,529
|
$
|
3,944
|
$
|
6,230
|
$
|
4,597
|
||||||||
Basic EPS
|
$
|
0.46
|
$
|
0.22
|
$
|
0.34
|
$
|
0.25
|
||||||||
Diluted EPS
|
$
|
0.39
|
$
|
0.19
|
$
|
0.29
|
$
|
0.23
|
Years Ended December 31, | ||||||||||||||||
GAAP | Non-GAAP(1) | |||||||||||||||
2020 | 2019 | 2020 | 2019 | |||||||||||||
(dollars in thousands, except per share data)
|
||||||||||||||||
Revenue
|
$
|
156,624
|
$
|
107,524
|
$
|
156,624
|
$
|
107,524
|
||||||||
Gross margin
|
44.4
|
%
|
47.1
|
%
|
44.5
|
%
|
47.3
|
%
|
||||||||
Income from operations
|
$
|
21,492
|
$
|
17,791
|
$
|
27,120
|
$
|
21,363
|
||||||||
Net income attributable to ACM Research, Inc.
|
$
|
18,780
|
$
|
18,894
|
$
|
23,798
|
$
|
22,466
|
||||||||
Basic EPS
|
$
|
1.03
|
$
|
1.12
|
$
|
1.31
|
$
|
1.34
|
||||||||
Diluted EPS
|
$
|
0.89
|
$
|
0.99
|
$
|
1.12
|
$
|
1.17
|
(1) |
Reconciliations to U.S. generally accepted accounting principles (“GAAP”) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial
Measures.” Non-GAAP financial measures exclude stock-based compensation and, with respect to net income (loss) attributable to ACM Research, Inc. and basic and diluted EPS, also exclude non-cash change in fair value of financial
liabilities, and unrealized gain on trading securities.
|
• |
Shipments. Total shipments in 2020 were $182 million, versus
$115 million in 2019. Total shipments in the fourth quarter of 2020 were $67 million, versus $25 million in the fourth quarter of 2019 and $59 million in the third quarter of 2020. Total shipments include deliveries for revenue in the
quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters.
|
• |
Update on ACM Shanghai IPO Activities. ACM Shanghai's
application for an initial public offering of its shares on the STAR Market was approved by the Listing Committee of the Shanghai Stock Exchange Commission (the “SSEC”) on September 30, 2020. Subsequently a short-seller report issued on
October 8, 2020, followed by a class-action lawsuit on December 21, 2020 that cited the short-seller report, resulted in additional inquiries by the SSEC. Completion of the IPO is now dependent upon, among other factors, a successful
review by the SSEC and registration by the China Securities Regulatory Commission.
|
• |
Continued Ramp of Newer Products. ACM delivered its first
Ultra ECP 3d tool to a key customer in China to begin formal qualification for its 3D through-silicon via (TSV) and other applications in the fourth quarter of 2020. Leveraging ACM's Ultra ECP ap and map platforms, the Ultra ECP 3d
platform delivers high-performance copper (Cu) electroplating for high aspect ratio (HAR) Cu applications, with no voids or seams. This advanced technology solution can deliver better yields, greater plating efficiency, and higher
throughput during the fabrication process.
|
• |
Furnace and Semi-Critical Cleaning Tools Delivered to Analog and Power IC Customer. In the fourth quarter of 2020, ACM delivered multiple semi-critical first tools to our newest customer, a leading China-based analog and power IC manufacturer. These first tools include an Ultra Fn Furnace
tool customized for alloy anneal processing.
|
• |
Production Ramp at Second Factory. ACM opened the second
floor of its Chuansha, Shanghai factory for production in the third quarter of 2020, which increased production capacity from $250 million to more than $350 million, as measured by shipment value.
|
• |
Pre-payment for Lingang Employee Housing. ACM Shanghai
paid an additional $33 million in the fourth quarter toward its planned employee housing project in the Lingang Region of Shanghai. Partial funding for the project was provided by a $19.6 million 10-year loan. Construction and transfer
of ownership to ACM Shanghai is expected to be completed prior to October 31, 2021. ACM considers employee housing, which is a common practice in Shanghai, to be an important incentive to attract and retain key employees.
|
• |
Revenue for 2020 was $156.6 million, up 46% from 2019, due
to an increase in revenue from wet cleaning and other front-end processing equipment and an increase in revenue from advanced packaging, other back-end processing tools, services and spares.
|
• |
Gross margin for 2020 was 44.4%, versus 47.1% in 2019.
Gross margin was within the range of 40.0% to 45.0% reflected in the Company’s long-term business model. The Company expects gross margin to vary from period to period due to a variety of factors, such as sales volume and product mix.
|
• |
Operating expenses for 2020 were $48.1 million, compared to
$32.9 million in 2019. Non-GAAP operating expenses, which exclude the effect of stock-based compensation, were $42.7 million, compared to $29.5 million in 2019. The increase in operating expenses for 2020 was due to higher research and
development spending on new products, increase sales activities in North America, and Star Market IPO-related costs.
|
• |
Operating income for 2020 was $21.5 million, compared to
$17.8 million in 2019. Operating income as a percent of revenue was 13.7% in 2020 versus 16.5% in 2019. Non-GAAP operating income, which excludes the effect of stock-based compensation, was $27.1 million, compared to $21.4 million in
2019.
|
• |
Change in fair value of financial liability for 2020 was a loss of $12.0 million. This non-cash, non-operating expense reflects a change in book value of a liability indexed to the market price of ACM’s Class A common
stock, and is excluded from non-GAAP results. The obligation, which resulted from agreements required for ACM Shanghai’s STAR Market IPO preparation, was terminated in July 2020 upon ACM’s issuance of a Class A common stock warrant.
|
• |
Unrealized gain on trading securities for 2020 was $12.6
million. The gain reflects the change in market value of ACM Shanghai’s indirect investment in STAR Market IPO shares of Semiconductor Manufacturing International Corporation (“SMIC”), which began trading in mid-July 2020. The value was
marked-to-market at year-end and is excluded from non-GAAP results.
|
• |
Net income attributable to ACM Research, Inc. for 2020 was
$18.8 million, compared to $18.9 million in 2019. Non-GAAP net income attributable to ACM Research, Inc. in 2020, excluding the effect of stock-based compensation, non-cash change in fair value of financial liabilities, and unrealized
gain on trading securities, was $23.8 million as compared to $22.5 million in 2019. Tax- items (compared to a normalized tax rate), and the effects of foreign-exchange fluctuations on operating results provided net benefits of $0.9
million and $4.7 million in 2020 and 2019, respectively.
|
• |
Net income per diluted share attributable to ACM Research, Inc. for 2020 was $0.89, compared to $0.99 in 2019. Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation, non-cash change in fair value of financial liabilities, and unrealized gain on trading
securities, was $1.12 in 2020, compared to $1.17 in 2019. Tax items and effects of foreign-exchange fluctuations on operating results provided net benefits per share of $0.04 and $0.25 in 2020 and 2019, respectively.
|
• |
Cash and cash equivalents at December 31, 2020 were $71.8
million, versus $92.2 million at September 30, 2020 and $58.3 million at December 31, 2019.
|
• |
Revenue in the fourth quarter of 2020 was $45.6 million, up
85% year over year, due to an increased volume of tools shipped for revenue.
|
• |
Gross margin in the fourth quarter of 2020 was 43.2%,
versus 50.6% in the same period of 2019. Gross margin was within the range of 40.0% to 45.0% set forth in the Company’s long-term business model. The Company expects gross margin to vary from period to period due to a variety of factors,
such as sales volume and product mix.
|
• |
Operating expenses in the fourth quarter of 2020 were $14.2
million, up from $8.6 million in the fourth quarter of 2019. Non-GAAP operating expenses, which exclude the effects of stock-based compensation, were $13.0 million, compared to $8.0 million in the fourth quarter of 2019.
|
• |
Operating income in the fourth quarter of 2020 was $5.4
million, up from $3.8 million in the fourth quarter of 2019. Operating income as a percent of revenue was 11.9% in the fourth quarter of 2020 versus 15.6% in the same period of 2019. Non-GAAP operating income, which excludes the effect
of stock-based compensation, was $6.7 million, compared to $4.5 million in the fourth quarter of 2019.
|
• |
Unrealized gain on trading securities was $3.6 million in
the fourth quarter of 2020. The gain reflects the change in market value of ACM Shanghai’s indirect investment in STAR Market IPO shares of SMIC, which began trading in mid-July 2020. The value was marked-to-market at quarter-end and is
excluded from non-GAAP results.
|
• |
Net income attributable to ACM Research, Inc. in the fourth
quarter of 2020 was $8.5 million, compared to $3.9 million in the fourth quarter of 2019. Non-GAAP net income attributable to ACM Research, Inc. in the fourth quarter of 2020, excluding the effect of stock-based compensation, and
unrealized gain on trading securities, was $6.2 million as compared to $4.6 in the fourth quarter of 2019. Tax-related items (compared to a normalized tax rate), and the effects of foreign-exchange fluctuations on operating results
provided net benefits of $0.9 million and $1.1 million in the fourth quarters of 2020 and 2019, respectively.
|
• |
Net income per diluted share attributable to ACM Research, Inc. in the fourth quarter of 2020 was $0.39, compared to $0.19 in the fourth quarter of 2019. Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation and unrealized gain on trading securities, was
$0.29 in the fourth quarter of 2020, compared to $0.23 in the fourth quarter of 2019. Tax items and effects of foreign-exchange fluctuations on operating results provided net benefits per share of $0.04 and $0.05 in the fourth quarters of
2020 and 2019, respectively.
|
In the United States:
|
The Blueshirt Group
|
|
Ralph Fong
|
||
+1 (415) 489-2195
|
||
ralph@blueshirtgroup.com
|
||
In China:
|
The Blueshirt Group Asia
|
|
Gary Dvorchak, CFA
|
||
+86 (138) 1079-1480
|
||
gary@blueshirtgroup.com
|
December 31, 2020
|
December 31, 2019
|
|||||||
(Unaudited)
|
||||||||
(In thousands, except share and per share data)
|
||||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
71,766
|
$
|
58,261
|
||||
Restricted cash
|
-
|
59,598
|
||||||
Trading securities
|
28,239
|
-
|
||||||
Accounts receivable, less allowance for doubtful accounts of $0 as of December 31, 2020 and December
31, 2019
|
56,441
|
31,091
|
||||||
Other receivables
|
9,679
|
2,603
|
||||||
Inventories
|
88,639
|
44,796
|
||||||
Prepaid expenses
|
5,892
|
2,047
|
||||||
Total current assets
|
260,656
|
198,396
|
||||||
Property, plant and equipment, net
|
8,192
|
3,619
|
||||||
Land use right, net
|
9,646
|
-
|
||||||
Operating lease right-of-use assets, net
|
4,297
|
3,887
|
||||||
Intangible assets, net
|
554
|
344
|
||||||
Deferred tax assets
|
11,076
|
5,331
|
||||||
Long-term investments
|
6,340
|
5,934
|
||||||
Other long-term assets
|
40,496
|
192
|
||||||
Total assets
|
341,257
|
217,703
|
||||||
Liabilities, Redeemable Non-controlling Interests and Stockholders’ Equity
|
||||||||
Current liabilities:
|
||||||||
Short-term borrowings
|
26,147
|
13,753
|
||||||
Current portion of long-term borrowings
|
1,591
|
-
|
||||||
Accounts payable
|
35,603
|
13,262
|
||||||
Advances from customers
|
17,888
|
9,129
|
||||||
Deferred revenue
|
1,343
|
-
|
||||||
Income taxes payable
|
31
|
3,129
|
||||||
FIN-48 payable
|
83
|
-
|
||||||
Other payables and accrued expenses
|
18,805
|
12,874
|
||||||
Current portion of operating lease liability
|
1,417
|
1,355
|
||||||
Total current liabilities
|
102,908
|
53,502
|
||||||
Long-term borrowings
|
17,979
|
-
|
||||||
Long-term operating lease liability
|
2,880
|
2,532
|
||||||
Deferred tax liability
|
1,286
|
-
|
||||||
Other long-term liabilities
|
8,034
|
4,186
|
||||||
Total liabilities
|
133,087
|
60,220
|
||||||
Commitments and contingencies
|
||||||||
Redeemable non-controlling interests
|
-
|
60,162
|
||||||
Stockholders’ equity:
|
||||||||
Common stock – Class A, par value $0.0001: 50,000,000 shares authorized as of December 31, 2020 and December 31, 2019;
16,896,693 shares issued and outstanding as of December 31, 2020 and 16,182,151 shares issued and outstanding as of December 31, 2019
|
2
|
2
|
||||||
Common stock–Class B, par value $0.0001: 2,409,738 shares authorized as of December 31, 2020 and December 31, 2019;
1,802,606 shares issued and outstanding as of December 31, 2020 and 1,862,608 shares issued and outstanding as of December 31, 2019
|
-
|
-
|
||||||
Additional paid in capital
|
102,004
|
83,487
|
||||||
Accumulated surplus
|
34,287
|
15,507
|
||||||
Accumulated other comprehensive income (loss)
|
4,857
|
(1,675
|
)
|
|||||
Total ACM Research, Inc. stockholders’ equity
|
141,150
|
97,321
|
||||||
Non-controlling interests
|
67,020
|
-
|
||||||
Total stockholders’ equity
|
208,170
|
97,321
|
||||||
Total liabilities, redeemable non-controlling interests, and stockholders’
equity
|
$
|
341,257
|
$
|
217,703
|
Three Months Ended December 31,
|
Year Ended December 31,
|
|||||||||||||||
2020
|
2019
|
2020
|
2019
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
( In thousands, except share and per share data)
|
( In thousands, except share and per share data)
|
|||||||||||||||
Revenue
|
$
|
45,562
|
$
|
24,608
|
$
|
156,624
|
$
|
107,524
|
||||||||
Cost of revenue
|
25,888
|
12,165
|
87,025
|
56,870
|
||||||||||||
Gross profit
|
19,674
|
12,443
|
69,599
|
50,654
|
||||||||||||
Operating expenses:
|
||||||||||||||||
Sales and marketing
|
5,249
|
3,223
|
16,773
|
11,902
|
||||||||||||
Research and development
|
5,878
|
3,302
|
19,119
|
12,900
|
||||||||||||
General and administrative
|
3,115
|
2,069
|
12,215
|
8,061
|
||||||||||||
Total operating expenses, net
|
14,242
|
8,594
|
48,107
|
32,863
|
||||||||||||
Income from operations
|
5,432
|
3,849
|
21,492
|
17,791
|
||||||||||||
Interest income
|
63
|
205
|
897
|
333
|
||||||||||||
Interest expense
|
(371
|
)
|
(207
|
)
|
(982
|
)
|
(745
|
)
|
||||||||
Change in fair value of financial liability
|
-
|
-
|
(11,964
|
)
|
-
|
|||||||||||
Unrealized gain on trading securities
|
3,604
|
-
|
12,574
|
-
|
||||||||||||
Other income (expense), net
|
(2,444
|
)
|
(739
|
)
|
(3,377
|
)
|
1,393
|
|||||||||
Equity income (loss) in net income (loss) of affiliates
|
116
|
(92
|
)
|
655
|
168
|
|||||||||||
Income before income taxes
|
6,400
|
3,016
|
19,295
|
18,940
|
||||||||||||
Income tax benefit
|
2,798
|
1,185
|
2,382
|
518
|
||||||||||||
Net income
|
9,198
|
4,201
|
21,677
|
19,458
|
||||||||||||
Less: Net income attributable to non-controlling interests and redeemable non-controlling interests
|
669
|
257
|
2,897
|
564
|
||||||||||||
Net income attributable to ACM Research, Inc.
|
$
|
8,529
|
$
|
3,944
|
$
|
18,780
|
$
|
18,894
|
||||||||
Comprehensive income:
|
||||||||||||||||
Net income
|
9,198
|
4,201
|
21,677
|
19,458
|
||||||||||||
Foreign currency translation adjustment
|
6,394
|
2,003
|
10,493
|
(899
|
)
|
|||||||||||
Comprehensive Income
|
15,592
|
6,204
|
32,170
|
18,559
|
||||||||||||
Less: Comprehensive income attributable to non-controlling interests and redeemable non-controlling interests
|
3,244
|
176
|
6,858
|
483
|
||||||||||||
Comprehensive income attributable to ACM Research, Inc.
|
$
|
12,348
|
$
|
6,028
|
$
|
25,312
|
$
|
18,076
|
||||||||
Net income attributable to ACM Research, Inc. per common share:
|
||||||||||||||||
Basic
|
$
|
0.46
|
$
|
0.22
|
$
|
1.03
|
$
|
1.12
|
||||||||
Diluted
|
$
|
0.39
|
$
|
0.19
|
$
|
0.89
|
$
|
0.99
|
||||||||
Weighted average common shares outstanding used in computing per share amounts:
|
||||||||||||||||
Basic
|
18,557,085
|
18,043,007
|
18,233,361
|
16,800,623
|
||||||||||||
Diluted
|
21,794,203
|
20,373,336
|
21,183,469
|
19,135,497
|
Three Months Ended December 31,
|
||||||||||||||||||||||||||||
2020
|
2019
|
|||||||||||||||||||||||||||
Actual
|
SBC
|
Other non-operating adjustments
|
Adjusted
|
Actual
|
SBC
|
Adjusted
|
||||||||||||||||||||||
(GAAP)
|
(Non-GAAP)
|
(GAAP)
|
(Non-GAAP)
|
|||||||||||||||||||||||||
(In thousands)
|
||||||||||||||||||||||||||||
Revenue
|
$
|
45,562
|
$
|
-
|
$
|
-
|
$
|
45,562
|
$
|
24,608
|
$
|
-
|
$
|
24,608
|
||||||||||||||
Cost of revenue
|
(25,888
|
)
|
(43
|
)
|
-
|
(25,845
|
)
|
(12,165
|
)
|
(37
|
)
|
(12,128
|
)
|
|||||||||||||||
Gross profit
|
19,674
|
(43
|
)
|
-
|
19,717
|
12,443
|
(37
|
)
|
12,480
|
|||||||||||||||||||
Operating expenses:
|
||||||||||||||||||||||||||||
Sales and marketing
|
(5,249
|
)
|
(704
|
)
|
-
|
(4,545
|
)
|
(3,223
|
)
|
(76
|
)
|
(3,147
|
)
|
|||||||||||||||
Research and development
|
(5,878
|
)
|
(195
|
)
|
-
|
(5,683
|
)
|
(3,302
|
)
|
(154
|
)
|
(3,148
|
)
|
|||||||||||||||
General and administrative
|
(3,115
|
)
|
(363
|
)
|
-
|
(2,752
|
)
|
(2,069
|
)
|
(386
|
)
|
(1,683
|
)
|
|||||||||||||||
Income from operations
|
$
|
5,432
|
$
|
(1,305
|
)
|
$
|
-
|
$
|
6,737
|
$
|
3,849
|
$
|
(653
|
)
|
$
|
4,502
|
||||||||||||
Change in fair value of financial liability
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Unrealized gain on trading securities
|
3,604
|
-
|
3,604
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Net income attributable to ACM Research, Inc.
|
$
|
8,529
|
$
|
(1,305
|
)
|
$
|
3,604
|
$
|
6,230
|
$
|
3,944
|
$
|
(653
|
)
|
$
|
4,597
|
||||||||||||
Basic EPS
|
$
|
0.46
|
$
|
0.34
|
$
|
0.22
|
$
|
0.25
|
||||||||||||||||||||
Diluted EPS
|
$
|
0.39
|
$
|
0.29
|
$
|
0.19
|
$
|
0.23
|
Year Ended December 31, |
||||||||||||||||||||||||||||
2020 |
2019 |
|||||||||||||||||||||||||||
Actual
|
SBC
|
Other non-operating adjustments
|
Adjusted
|
Actual
|
SBC
|
Adjusted
|
||||||||||||||||||||||
(GAAP)
|
(Non-GAAP)
|
(GAAP)
|
(Non-GAAP)
|
|||||||||||||||||||||||||
(In thousands)
|
||||||||||||||||||||||||||||
Revenue
|
$
|
156,624
|
$
|
-
|
$
|
-
|
$
|
156,624
|
$
|
107,524
|
$
|
-
|
$
|
107,524
|
||||||||||||||
Cost of revenue
|
(87,025
|
)
|
(175
|
)
|
-
|
(86,850
|
)
|
(56,870
|
)
|
(250
|
)
|
(56,620
|
)
|
|||||||||||||||
Gross profit
|
69,599
|
(175
|
)
|
-
|
69,774
|
50,654
|
(250
|
)
|
50,904
|
|||||||||||||||||||
Operating expenses:
|
||||||||||||||||||||||||||||
Sales and marketing
|
(16,773
|
)
|
(1,199
|
)
|
-
|
(15,574
|
)
|
(11,902
|
)
|
(328
|
)
|
(11,574
|
)
|
|||||||||||||||
Research and development
|
(19,119
|
)
|
(763
|
)
|
-
|
(18,356
|
)
|
(12,900
|
)
|
(1,093
|
)
|
(11,807
|
)
|
|||||||||||||||
General and administrative
|
(12,215
|
)
|
(3,491
|
)
|
-
|
(8,724
|
)
|
(8,061
|
)
|
(1,901
|
)
|
(6,160
|
)
|
|||||||||||||||
Income from operations
|
$
|
21,492
|
$
|
(5,628
|
)
|
$
|
-
|
$
|
27,120
|
$
|
17,791
|
$
|
(3,572
|
)
|
$
|
21,363
|
||||||||||||
Change in fair value of financial liability
|
(11,964
|
)
|
-
|
(11,964
|
)
|
-
|
-
|
-
|
-
|
|||||||||||||||||||
Unrealized gain on trading securities
|
12,574
|
-
|
12,574
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
Net income attributable to ACM Research, Inc.
|
$
|
18,780
|
$
|
(5,628
|
)
|
$
|
610
|
$
|
23,798
|
$
|
18,894
|
$
|
(3,572
|
)
|
$
|
22,466
|
||||||||||||
Basic EPS
|
$
|
1.03
|
$
|
1.31
|
$
|
1.12
|
$
|
1.34
|
||||||||||||||||||||
Diluted EPS
|
$
|
0.89
|
$
|
1.12
|
$
|
0.99
|
$
|
1.17
|