FormFactor Q3 revenue $171.6M near high end; non-GAAP EPS $0.22 beats; sold FRT for $100M; $75M buyback

FORMFACTOR INC

2023-Q3 EPS reported $0.08 revenue$494,939,000

Revenue $171.6M (+10% QoQ, -5% YoY); GAAP EPS $0.06, non-GAAP EPS $0.22 (above outlook range).
Completed sale of FRT to Camtek for $100M cash, subject to customary purchase price adjustments.
Board authorized additional $75M stock repurchase plan (expires Oct 2025), supplementing existing May 2022 program.
Q4 outlook: revenue $165M+/-$5M; non-GAAP gross margin ~41%; non-GAAP EPS $0.20+/-$0.04 excluding ~$0.76 gain on FRT sale.
Foundry & Logic probe card demand strong; record Systems revenue; DRAM probe card demand expected stronger in Q4.

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 1.0

FORMFACTOR INC reported fourth quarter ending December 30, 2023 results: revenue $165 million +/- $5 million, EPS $0.20 +/- $0.04.

Period: fourth quarter ending December 30, 2023
Revenue: $165 million +/- $5 million
EPS: $0.20 +/- $0.04
Result: guidance update

Exact text from the filing

For the fourth quarter ending December 30, 2023, FormFactor is providing the following outlook*: GAAP Reconciling Items** Non-GAAP Revenue $165 million +/- $5 million — $165 million +/- $5 million Gross Margin 40% +/- 1.5% $2 million 41% +/- 1.5% Net income (loss) per diluted share $0.84 +/- $0.04 $0.64 $0.20 +/- $0.04

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FORMFACTOR INC reported third quarter of fiscal 2023 ended September 30, 2023 results: revenue $171.6 million, net income $17.3 million, EPS $0.22.

Period: third quarter of fiscal 2023 ended September 30, 2023
Revenue: $171.6 million
Net income: $17.3 million
EPS: $0.22
Result: reported results

Exact text from the filing

Quarterly revenues were $171.6 million, an increase of 10.0% compared to $155.9 million in the second quarter of fiscal 2023, and a decrease of 5.1% from $180.9 million in the third quarter of fiscal 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FORMFACTOR INC reported third quarter of fiscal 2023 ended September 30, 2023 results: revenue $171.6 million, net income $17.3 million, EPS $0.22.

Period: third quarter of fiscal 2023 ended September 30, 2023
Revenue: $171.6 million
Net income: $17.3 million
EPS: $0.22
Result: reported results

Exact text from the filing

— November 1, 2023 —FormFactor, Inc. (Nasdaq: FORM) today announced its financial results for the third quarter of fiscal 2023 ended September 30, 2023. Quarterly revenues were $171.6 million, an increase of 10.0% compared to $155.9 million in the second quarter of fiscal 2023, and a decrease of 5.1% from $180.9 million in the third quarter of fiscal 2022. •

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Source: SEC EDGAR

accession 0001039399-23-000045

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