FormFactor Q4 revenue $166M, GAAP net loss $0.18/sh; director Link not standing for re-election

FORMFACTOR INC

2022-FY EPS reported $0.65 revenue$747,937,000

Q4 revenue $166.0M, down 8.2% sequentially and 19% YoY; FY2022 revenue $748M down 2.8%.
GAAP net loss $13.7M ($0.18 loss per share) vs net income $4.4M in Q3; non-GAAP net income $4.1M ($0.05).
Q1 FY2023 outlook: revenue ~$162M ±$5M, non-GAAP EPS $0.13 ±0.04, GAAP gross margin ~35%.
Director Raymond Link will not stand for re-election at May 19, 2023 annual meeting; no disagreement.
Systems segment achieved second consecutive record quarter; restructuring completed in Q4.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Raymond A. Link

Director

FORM · FORMFACTOR INC

Effective: 2023-05-19
Filed: February 8, 2023, 6:59 PM ET

On February 3, 2023, Raymond A. Link, a director of FormFactor, Inc. (the “Company”) notified the Company that he will not stand for re-election at the Company’s next annual meeting of stockholders.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FORMFACTOR INC reported the fourth quarter of fiscal 2022 ended December 31, 2022 results: revenue $166.0 million, net income net loss for the fourth quarter of fiscal 2022 was $13.7 million, or negative $0.18 per fully-diluted share, EPS negative $0.18 per fully-diluted share.

Period: the fourth quarter of fiscal 2022 ended December 31, 2022
Revenue: $166.0 million
Net income: net loss for the fourth quarter of fiscal 2022 was $13.7 million, or negative $0.18 per fully-diluted share
EPS: negative $0.18 per fully-diluted share
Result: reported results

Exact text from the filing

FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the fourth quarter of fiscal 2022 ended December 31, 2022. Quarterly revenues were $166.0 million, a decrease of 8.2% compared to $180.9 million in the third quarter of fiscal 2022, and a decrease of 19.0% from $205.0 million in the fourth quarter of fiscal 2021.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Raymond A. Link departed as Director at FORMFACTOR INC.

Action: not stand for re-election
Role: Director

Exact text from the filing

On February 3, 2023, Raymond A. Link, a director of FormFactor, Inc. (the “Company”) notified the Company that he will not stand for re-election at the Company’s next annual meeting of stockholders.

View on SEC.gov

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FORMFACTOR INC filing history →

Source: SEC EDGAR

accession 0001039399-23-000006

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