FormFactor Q1 revenue $167.4M, above outlook; GAAP EPS $0.02, non-GAAP $0.16

FORMFACTOR INC

2023-Q1 EPS reported $0.02 revenue$167,448,000

Revenue $167.4M, up 0.9% QoQ but down 15.1% YoY; exceeded outlook range due to shipment timing.
GAAP net income $1.3M ($0.02 diluted EPS); non-GAAP net income $12.5M ($0.16 diluted EPS).
GAAP gross margin 36.5%, up from 27.2% in Q4; non-GAAP gross margin 38.4%.
Q2 FY2023 outlook: revenue $162M +/- $5M; non-GAAP EPS $0.12 +/- $0.04; stable demand anticipated.
Free cash flow negative $7.3M; cash from operations $12.3M in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FORMFACTOR INC reported the first quarter of fiscal 2023 ended April 1, 2023 results: revenue $167.4 million, net income $1.3 million, EPS $0.02 per fully-diluted share.

Period: the first quarter of fiscal 2023 ended April 1, 2023
Revenue: $167.4 million
Net income: $1.3 million
EPS: $0.02 per fully-diluted share
Result: reported results

Exact text from the filing

Calif. — May 3, 2023 —FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the first quarter of fiscal 2023 ended April 1, 2023. Quarterly revenues were $167.4 million, an increase of 0.9% compared to $166.0 million in the fourth quarter of fiscal 2022, and a decrease of 15.1% from $197.2 million in the first quarter of fiscal 2022. • Delivered

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Source: SEC EDGAR

accession 0001039399-23-000016

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