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Feb 2nd, 2011
 
FormFactor, Inc. reports fourth quarter and annual results
 
2010 revenue $188.6 million, up $53.2 million, 39 percent growth year-over-year.
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FormFactor, Inc. (NASDAQ: FORM) today announced its financial results for the fourth quarter of fiscal 2010, that ended on December 25, 2010. Quarterly revenues were $43.9 million, down 7% from $47.3 million in the third quarter of fiscal 2010, and up 33% from $33.0 million in the fourth quarter of fiscal 2009.

For fiscal 2010, FormFactor posted revenue of $188.6 million, up 39% from $135.3 million in fiscal 2009.

On a GAAP basis net loss for the fourth quarter of fiscal 2010 was $20.4 million or $(0.40) per fully-diluted share, compared to a net loss for the third quarter of fiscal 2010 of $95.8 million or $(1.90) per fully-diluted share and a net loss for the fourth quarter of fiscal 2009 of $28.0 million or $(0.56) per fully-diluted share. Net loss for the fiscal 2010 was $188.3 million or $(3.75) per share, compared to a net loss for fiscal 2009 of $155.7 million or $(3.15) per share.

On a Non-GAAP basis, net loss for the fourth quarter of fiscal 2010 was $14.9 million or $(0.29) per fully-diluted share, compared to a net loss for the third quarter of fiscal 2010 of $27.7 million or $(0.55) per fully-diluted share and a net loss for the fourth quarter of fiscal 2009 of $22.2 million or $(0.45) per fully-diluted share. On a non-GAAP basis, net loss for fiscal 2010 was $98.4 million or $(1.96) per share, compared to a net loss for fiscal 2009 of $87.3 million or $(1.76) per share. A reconciliation of GAAP to non-GAAP net loss and net loss per share is provided in the schedules included below.

"Our fourth quarter results demonstrate progress we are making to streamline our cost structure and improve cash burn rate, while continuing to develop and introduce new products," said Tom St. Dennis, CEO of FormFactor. "Our Matrix platform continues to gain traction at all major customers with most of our full wafer contactor business now transitioned to Matrix product family."

The company has posted its revenue breakdown by region and market segment on the Investors section of its website at www.formfactor.com. FormFactor will conduct a conference call at 1:30 p.m. PST, or 4:30 p.m. EST, today. The public is invited to listen to a live web cast of FormFactor's conference call on the Investors section of the company's website at www.formfactor.com. An audio replay of the conference call will also be made available approximately two hours after the conclusion of the call. The audio replay will remain available through February 3, 2011, 9:00 p.m. Pacific Standard Time, and can be accessed by dialing (800) 642-1687 (domestic) or (706) 645-9291 (international) and entering confirmation code 35076660.


 
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