FormFactor, Inc. Announces Preliminary Fourth Quarter Revenue
January 12, 2009
LIVERMORE, Calif. — January 12, 2009 — 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 1:30pm 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 web site 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.