FormFactor, Inc. Reports 2023 Second Quarter Results

 
FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts) 
(Unaudited)
 
  Three Months Ended  Six Months Ended
  July 1,
2023
  April 1,
2023
  June 25,
2022
  July 1,
2023
  June 25,
2022
Revenues$155,916  $167,448 $203,907 $323,364  $401,081
Cost of revenues 95,633   106,370  109,538  202,003   212,488
Gross profit 60,283   61,078  94,369  121,361   188,593
Operating expenses:         
Research and development   28,340       28,245     28,317     56,585       55,451
Selling, general and administrative   33,255       32,742     33,406     65,997       66,312
Total operating expenses   61,595       60,987     61,723     122,582       121,763
Operating income (loss)   (1,312 )     91     32,646     (1,221 )     66,830
Interest income, net   1,482       1,276     181     2,758       127
Other income, net   450       23     551     473       743
Income before income taxes   620       1,390     33,378     2,010       67,700
Provision (benefit) for income taxes   (208 )     48     3,136     (160 )     7,586
Net income $ 828     $ 1,342   $ 30,242   $ 2,170     $ 60,114
Net income per share:                  
Basic $ 0.01     $ 0.02   $ 0.39   $ 0.03     $ 0.77
Diluted $ 0.01     $ 0.02   $ 0.38   $ 0.03     $ 0.76
Weighted-average number of shares used in per share calculations:                  
Basic   77,159       77,066     77,897     77,112       78,071
Diluted   77,616       77,255     79,210     77,450       79,423
                                 



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