FormFactor, Inc. Reports 2018 Third Quarter Results

FORMFACTOR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)

	September 29, 2018			December 30, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	91,990		$	91,184
Marketable securities	50,109			48,988
Accounts receivable, net of allowance for doubtful accounts of $200 and $200	88,869			81,515
Inventories, net	81,538			67,848
Restricted cash	129			372
Refundable income taxes	1,320			2,242
Prepaid expenses and other current assets	15,716			13,705
Total current assets	329,671			305,854
Restricted cash	1,034			1,170
Property, plant and equipment, net of accumulated depreciation of $260,607 and $255,755	52,857			46,754
Goodwill	189,427			189,920
Intangibles, net	75,278			97,484
Deferred tax assets	3,042			3,133
Other assets	1,163			2,259
Total assets	$	652,472		$	646,574
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	49,668		$	35,046
Accrued liabilities	24,877			33,694
Current portion of term loan, net of unamortized issuance cost of $189 and $307	26,061			18,443
Deferred revenue	4,795			4,978
Total current liabilities	105,401			92,161
Term loan, less current portion, net of unamortized issuance cost of $57 and $272	46,193			87,228
Deferred tax liabilities	3,290			3,379
Deferred rent and other liabilities	7,537			5,169
Total liabilities	162,421			187,937

Stockholders’ equity:
Common stock and capital in excess of par value	857,580			843,189
Accumulated other comprehensive income	1,158			3,021
Accumulated deficit	(368,687		)	(387,573		)
Total stockholders’ equity	490,051			458,637
Total liabilities and stockholders’ equity	$	652,472		$	646,574

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