FormFactor, Inc. Reports First Quarter Results

FORM-F

 
FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)
  
  Three Months Ended
  April 1,
2017
  March 26,
2016
Revenues$128,829  $53,611 
Cost of revenues81,258  43,819 
Gross profit47,571  9,792 
Operating expenses:   
Research and development17,414  10,849 
Selling, general and administrative22,829  12,516 
Restructuring and impairment charges, net269   
Total operating expenses40,512  23,365 
Operating income (loss)7,059  (13,573)
Interest income, net67  117 
Other income (expense), net(1,574) (314)
Income (loss) before income taxes5,552  (13,770)
Provision for income taxes367  30 
Net income (loss)$5,185  $(13,800)
Net income (loss) per share:   
Basic$0.07  $(0.24)
Diluted$0.07  $(0.24)
Weighted-average number of shares used in per share calculations:   
Basic71,423  58,431 
Diluted72,922  58,431 
      


FORMFACTOR, INC.
RECONCILIATION OF NON-GAAP NET INCOME (LOSS)
(In thousands, except per share amounts)
(Unaudited)
  
  Three Months Ended
  April 1,
2017
  March 26,
2016
GAAP net income (loss)$5,185  $(13,800)
Adjustments to reconcile GAAP net income (loss) to Non-GAAP net income (loss):   
Stock-based compensation3,302  2,734 
Restructuring and impairment charges, net269   
Acquisition and integration related expenses588  2,001 
Amortization of intangibles8,540  2,770 
Contingencies(206)  
Income tax effect of non-GAAP adjustments(427)  
Non-GAAP net income (loss)$ 17,251     $ (6,295 )
       
Non-GAAP net income (loss) per share:      
Basic $ 0.24     $ (0.11 )
Diluted $ 0.24     $ (0.11 )
       
Weighted-average number of shares used in per share calculations:      
Basic 71,423     58,431  
Diluted 72,922     58,431  
           



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