secwatch.observer — SEC 8-K summary
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Issuer:     FORMFACTOR INC (FORM)
CIK:        0001039399
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001039399-24-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FormFactor Q4 revenue $168.2M; divests China ops to Grand Junction
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- GAAP net income $75.8M ($0.97 EPS) includes $73.0M gain from sale of FRT; non-GAAP EPS $0.20.
- Revenue $168.2M, down 2% QoQ, up 1.3% YoY; FY2023 revenue $663M, down 11.3% from FY2022.
- Signed agreement to divest China operations to Grand Junction Semiconductor, forming exclusive distribution partnership.
- Q1 FY2024 outlook: revenue ~$165M ± $5M, non-GAAP EPS $0.19 ± $0.04.
- Non-GAAP gross margin 42.1%, up from 31.7% YoY; GAAP gross margin stable at 40.4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039399/000103939924000004/0001039399-24-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039399/000103939924000004/form-20240207.htm
  HTML page:      https://secwatch.observer/filing/0001039399-24-000004

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