FormFactor, Inc. Raises Second Quarter Guidance
May 27, 2014
LIVERMORE, CA — (Marketwired) — 05/27/14 — FormFactor, Inc. (NASDAQ: FORM) today announced it expects revenue for its fiscal second quarter of 2014 to be between $65 and $69 million, higher than the company’s previous revenue guidance of $62 to $66 million. Non-GAAP gross margin is expected to be between 34% to 37%, higher than the company’s previous gross margin guidance of 31% to 34%. Customer demand across the SOC and the DRAM segments are the main drivers for the increase to the company’s expected revenue results.
“We continue to see strength in our business in both SOC and DRAM market segments,” said Tom St. Dennis, CEO and Executive Chairman of the Board of FormFactor, Inc. “While we are encouraged by the strong momentum in our business, we remain focused on our longer term strategic initiatives that will drive growth beyond 2014.”
FormFactor’s management will further discuss the financial guidance on May 29th, 2014 at 2:00 p.m. EDT, or 11:00 a.m. PDT, at the previously scheduled Cowen and Company 42nd Annual Technology, Media & Telecom Conference. The public is invited to listen to a live web cast of FormFactor’s conference presentation on the Investors section of the company’s website at www.formfactor.com.
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 or trends, 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: changes in the market demand for the company’s products; the company’s ability to timely develop and deliver products to test advanced memory and SoC devices; and the company’s ability to execute successfully on longer term strategic initiatives that will drive growth beyond 2014. 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 28, 2013, as filed with the SEC, and subsequent SEC filings, including the company’s Quarterly Reports on Forms 10-Q. 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.