FormFactor Updates Business Status After Japan Earthquake and Tsunami
March 14 2011 - 9:00AM
Marketwired
FormFactor, Inc. (NASDAQ: FORM) today announced that it has
completed a status review of its employees, its Japan operations,
and its suppliers following the earthquake and tsunami in Japan.
FormFactor's manufacturing and repair facility in Yokohama,
Japan and its repair operations in Hiroshima, Japan are not damaged
and are ready to resume operations consistent with the power usage
guidelines of the Japanese power industry. Based on the company's
current assessment, FormFactor's key Japan-based suppliers have not
experienced any significant damage to their facilities and are
resuming operations consistent with the power usage guidelines in
their respective areas. FormFactor is working closely with
customers to coordinate deliveries to their factories. The company
believes its Livermore manufacturing facility has the capacity to
offset any potential manufacturing constraints that may be realized
by its Japan operations. FormFactor will provide updates to its
Japan operations as necessary. As a result of the company's current
assessment of the effects of the Japan earthquake and tsunami, the
company does not believe the Q1 guidance it communicated on
February 1 and reaffirmed on March 8 is impacted.
About FormFactor: Founded in 1993,
FormFactor, Inc. (NASDAQ: FORM) is a 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.
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.
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 anticipated
results, market conditions, expectations and operating plans. These
forward-looking statements are based on current information and
expectations that are inherently subject to change and 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: the impact the
recent earthquake and tsunami will have on the company's
Japan-based suppliers and, in turn, the company's ability to timely
manufacture and deliver product; the company's ability to continue
uninterrupted manufacturing and repair operations out of its Japan
facilities; whether the company's Livermore manufacturing facility
has the capacity to offset any potential manufacturing constraints
that may develop in Japan; power usage constrains that may be
imposed by Japan authorities upon the operations of the company,
its suppliers and its customers; and the company's ability to
design, manufacture and deliver products on a timely basis to meet
its provided guidance, including projected revenue, gross margin,
operating expenses and cash burn guidance. 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 25, 2010, as filed with the SEC, 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. FORM-F
Add to Digg Bookmark with del.icio.us Add to Newsvine
Investor Contact: Stan Finkelstein Investor Relations (925)
290-4321 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