Australian semiconductor processing equipment manufacturer Revasum (ASX:RVS) saw its shares soar up to 12.5% to A$0.18, a high not seen since August 17.

The company reported an impressive 43% year-on-year increase in total third quarter revenue, and its gross margin expanded to 34.5% from the previous 26.8%.

Revasum anticipates more growth in service and consumable parts sales, and maintains a focus on controlling operating expenses and improving efficiencies in its business.

Revasum’s expense control and cash flow management remain ongoing priorities.

More than 26,600 shares were traded, compared to the 30-day average volume of 23,613.

The stock has risen over 23% this year up to the last close.

Revasum is a company headquartered in Australia specializing in the manufacture of semiconductor processing equipment.