FormFactor (FORM) Tops Q1 EPS by 13c; Not Providing Outlook

FormFactor (NASDAQ: FORM) reported Q1 EPS of $0.33, $0.13 better than the analyst estimate of $0.20. Revenue for the quarter came in at $160.8 million versus the consensus estimate of $139.01 million.

“During these unprecedented times, our priority has been to safeguard the health and safety of our employees while working closely with our customers to ensure their products are prioritized and quickly delivered,” said Mike Slessor, CEO of FormFactor, Inc. “Despite significant operational challenges related to COVID-19, our employees’ extraordinary efforts, dedication, and perseverance enabled us to deliver these excellent results.”

GUIDANCE:

Dr. Slessor added, “Given COVID-19 related uncertainties, we are not providing a formal outlook range for revenue, gross margin or EPS for the second quarter. Although our visibility is even more limited than usual, demand for FormFactor’s products remains strong. We are, however, output constrained, as our factories are now operating with limited production due to social distancing requirements. We anticipate these manufacturing constraints will keep second quarter factory output approximately ten percent below the level achieved during the first quarter. Absent these constraints, we anticipate we would have generated sequential revenue growth in the second quarter.”

For earnings history and earnings-related data on FormFactor (FORM) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Reading (RDI) Tops Q2 EPS by 4c
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c