FormFactor Inc. (NASDAQ:FORM) had a loss 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. Shares are up 0.81%.
FormFactor Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.35 in the year-earlier quarter.
Revenue: Rose 51.11% to $52.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FormFactor Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.22. It beat the average revenue estimate of $51.68 million.
Quoting Management: “Our overall business improved as we moved through Q1, primarily driven by increased demand for our memory probe cards,” said Tom St. Dennis, CEO of FormFactor. “Q1 was also the first full quarter of MicroProbe’s contributions to our financial results and we made substantial progress integrating the MicroProbe business, which is helping us capture certain synergies earlier than anticipated.”
Key Stats (on next page)…
Revenue increased 10.39% from $47.65 million in the previous quarter. EPS increased to $-0.13 in the quarter versus EPS of $-0.32 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 $0.16 to a loss $0.09. For the current year, the average estimate has moved up from a loss of $0.53 to a loss of $0.33 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)