FormFactor (FORM) Tops Q3 EPS by 4c

FormFactor (NASDAQ: FORM) reported Q3 EPS of $0.39, $0.04 better than the analyst estimate of $0.35. Revenue for the quarter came in at $178 million versus the consensus estimate of $175.71 million.

“Our third quarter results demonstrate FormFactor’s continuing progress, as we scale to meet customers’ robust demand for our products,” said Mike Slessor, CEO of FormFactor, Inc. “Despite the challenges posed by COVID-19, we steadily improved the efficiency of both our internal operations and external supply chain, allowing us to deliver results nearly matching our all-time-record fourth quarter of 2019.”

The Company also announced that it acquired High Precision Devices, Inc. (HPD) shortly after the end of the third quarter. Based in Boulder, Colorado, HPD brings world-class cryogenic thermal control and test expertise that augment FormFactor’s existing capabilities and products. The ability to control and manage testing from near absolute zero to hundreds of degrees centigrade is a differentiating capability in semiconductor testing, and HPD expands FormFactor’s leading portfolio of engineering system test and measurement capabilities.

“We are pleased to welcome to HPD’s team to FormFactor and are excited about adding their expertise, technologies, and products in cryogenic test and measurement, an area that is evolving rapidly with revolutionary applications like quantum computing” said Dr. Mike Slessor, CEO of FormFactor

GUIDANCE:

FormFactor sees Q4 2020 EPS of $0.35-$0.43, versus the consensus of $0.33. FormFactor sees Q4 2020 revenue of $178-190 million, versus the consensus of $170.4 million.

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

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