FormFactor, Inc. Announces Preliminary Fourth Quarter Revenue
January 12 2010 - 9:00AM
Marketwired
FormFactor, Inc. (NASDAQ: FORM) today announced lower than expected
preliminary revenue for the fourth quarter, ended December 26,
2009. The company now expects fourth quarter revenue to be in the
range of $32 million to $33 million compared to its previous view
of down 10% from its third quarter 2009 results, or $38-39 million.
The lower than expected fourth quarter revenue results are due
primarily to a delay in the timing of customer technology
transitions, tooling cycles and volume plans.
The company continues to expect strong growth in 2010 fueled by
design proliferation and volume ramps resulting in approximately
60% year over year revenue growth, plus or minus 10%. The company
currently expects revenues in the first quarter of 2010 to be in
the range of $40 million plus or minus 10%.
Results for any particular quarter may fluctuate based on
customer-specific factors and because an increasing percentage of
the company's business is being derived from revenue booked and
realized within the same quarter.
The company ended its fiscal fourth quarter with approximately
$450 million in cash and cash equivalents and marketable
securities.
Conference Call Details:
The company plans to release its financial results for its
fourth quarter on Thursday, January 28, 2010, at 1:30 p.m. Pacific
Standard Time. The public is invited to listen to a live webcast
and archived replay of FormFactor's conference call on the
Investors section of the company's website at www.formfactor.com. A
telephone replay of the conference call will be available
approximately two hours after the conclusion of the call. The
telephone replay will be available through February 1, 2010, 9:00
p.m. Pacific Standard Time, and can be accessed by dialing
888-203-1112 (domestic) or 719-457-0820 (international) and
entering confirmation code 1210545.
About FormFactor:
Founded in 1993, FormFactor, Inc. (NASDAQ: FORM) is the leader
in advanced wafer probe cards, which are used by semiconductor
manufacturers to electrically test integrated circuits, or ICs. The
company's wafer sort, burn-in and device performance testing
products move IC testing upstream from post-packaging to the wafer
level, enabling semiconductor manufacturers to lower their overall
production costs, improve yields, and bring next-generation devices
to market. FormFactor is headquartered in Livermore, California
with operations in Europe, Asia and North America. For more
information, visit the company's website at www.formfactor.com.
Forward-Looking Statements:
Statements in this press release that are not strictly
historical in nature are forward-looking statements within the
meaning of the federal securities laws, including statements
regarding revenue expectations, growth rates, design proliferation
and volume ramps. These forward-looking statements are based on
current information and expectations that are inherently subject to
change and that involve a number of risks and uncertainties. Actual
events or results might differ materially from those in any
forward-looking statement due to various factors, including, but
not limited to: changes from the preliminary revenue estimates
contained in this release that may occur as the financial
statements for the fourth quarter are finalized; changes in the
market environment, including the demand for DRAM and Flash memory
and other semiconductor devices; the timing of customer technology
transitions, tooling cycles and volume plans; the company's ability
to meet customer requirements for shorter lead times; and the
company's ability to develop innovative testing technologies and to
timely deliver and qualify new products that meet its customers'
testing requirements and lower their overall cost of test.
Additional information concerning factors that could cause actual
events or results to differ materially from those in any
forward-looking statement is contained in the company's Form 10-K
for the fiscal year ended December 27, 2008 and the company's Form
10-Q for the fiscal quarter ended September 26, 2009, both as filed
with the Securities and Exchange Commission and subsequent SEC
filings. Copies of the company's SEC filings are available at
http://investors.formfactor.com/edgar.cfm. The company assumes no
obligation to update the information in this press release, to
revise any forward-looking statements or to update the reasons
actual results could differ materially from those anticipated in
forward-looking statements.
FormFactor and the FormFactor logo are registered trademarks of
FormFactor, Inc. All other product, trademark, company or service
names mentioned herein are the property of their respective
owners.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Investor Contact: Michael Magaro Investor Relations (925)
290-4321 Email Contact Trade Press Contact: David Viera Corporate
Communications (925) 290-4681 Email Contact
FormFactor (NASDAQ:FORM)
Historical Stock Chart
From May 2024 to Jun 2024
FormFactor (NASDAQ:FORM)
Historical Stock Chart
From Jun 2023 to Jun 2024