secwatch.observer — SEC 8-K summary
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Issuer:     FORMFACTOR INC (FORM)
CIK:        0001039399
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001039399-23-000045
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039399/000103939923000045/0001039399-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039399/000103939923000045/form-20231101.htm
  HTML page:      https://secwatch.observer/filing/0001039399-23-000045

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