FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 29, 2019 | June 30, 2018 | June 29, 2019 | June 30, 2018 | ||||||||||||
| Revenues | $ | 138,018 | $ | 135,509 | $ | 270,231 | $ | 253,799 | |||||||
| Cost of revenues | 82,666 | 79,291 | 162,358 | 152,452 | |||||||||||
| Gross profit | 55,352 | 56,218 | 107,873 | 101,347 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 20,074 | 19,675 | 39,797 | 37,721 | |||||||||||
| Selling, general and administrative | 26,283 | 25,232 | 51,467 | 48,681 | |||||||||||
| Total operating expenses | 46,357 | 44,907 | 91,264 | 86,402 | |||||||||||
| Operating income | 8,995 | 11,311 | 16,609 | 14,945 | |||||||||||
| Interest income | 684 | 326 | 1,264 | 583 | |||||||||||
| Interest expense | (522 | ) | (910 | ) | (1,117 | ) | (1,877 | ) | |||||||
| Other income (expense), net | 81 | 50 | (3 | ) | (462 | ) | |||||||||
| Income before income taxes | 9,238 | 10,777 | 16,753 | 13,189 | |||||||||||
| Provision for income taxes | 2,290 | 1,654 | 4,322 | 1,941 | |||||||||||
| Net income | $ | 6,948 | $ | 9,123 | $ | 12,431 | $ | 11,248 | |||||||
| Net income per share: | |||||||||||||||
| Basic | $ | 0.09 | $ | 0.12 | $ | 0.17 | $ | 0.15 | |||||||
| Diluted | $ | 0.09 | $ | 0.12 | $ | 0.16 | $ | 0.15 | |||||||
| Weighted-average number of shares used in per share calculations: | |||||||||||||||
| Basic | 74,478 | 73,157 | 74,483 | 72,991 | |||||||||||
| Diluted | 76,189 | 74,533 | 76,061 | 74,427 | |||||||||||
