FormFactor Inc. (NASDAQ:FORM) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
FormFactor Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.01 in the quarter versus EPS of $-0.08 in the year-earlier quarter.
Revenue: Rose 14.4% to $62.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FormFactor Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company beat the mean analyst estimate of $-0.05. It beat the average revenue estimate of $60.78 million.
Quoting Management: “Q2 marked an important step in the company’s turnaround as we generated our first quarter of positive cash flow since Q4’07,” said Tom St. Dennis, CEO of FormFactor. “Revenue in Q2 showed nice improvement over Q1 in all markets, and our overall results benefited from our continuing focus on the gross margins and operating expenses of the combined FormFactor/MicroProbe businesses.”
Key Stats (on next page)…
Revenue decreased 0% from $0 in the previous quarter. EPS increased to $0.01 in the quarter versus EPS of $-0.13 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.01 to a profit $0.04. For the current year, the average estimate has moved up from a loss of $0.31 to a loss of $0.08 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)