FormFactor, Inc. announced its financial results for the second quarter of fiscal 2010, which ended on June 26, 2010. Quarterly revenues were $57.6 million, up 45.1% from $39.7 million in the first quarter of fiscal 2010, and up 84.6% from $31.2 million in the second quarter of fiscal 2009.

Net loss for the second quarter of fiscal 2010 was $33.9 million or $(0.68) per fully-diluted share, compared to a net loss for the first quarter of fiscal 2010 of $38.2 million or $(0.77) per fully-diluteshare and a net loss for the second quarter of fiscal 2009 of $65.8 million or $(1.33) per fully-diluted share. On a Non-GAAP basis, net loss for the second quarter of fiscal 2010 was $27.5 million or $(0.5per fully-diluted share, compared to a net loss for the first quarter of fiscal 2010 of $29.4 million or $(0.59) per fully-diluted share and a net loss for the second quarter of fiscal 2009 of $16.3 million or$(0.33) per fully-diluted share.

The second quarter of fiscal 2010 includes a pre-tax restructing charge of $5.8 million, or $(0.12) per fully diluted share, for severance benefits and the impairment of certain long-lived assets. The restructuring charge is part of an overall cost reduction plan that includes a workforce reductionannounced on June 16, 2010. Offsetting this charge is a benefit of $3.3 million, or $0.07 per fullyshare, for the rescission of severance arrangements previously provided to certain Livermore manufacturing personnel in Q1 2010. The rescission was also a part of the overall cost reductand reflects the company’s decision to discontinue plans for Korea manufacturing operations and slow its transition of certain manufacturing operations to Singapore.

Seperate from these restructuring charges, the company also recorded an expense of $0.6 million, or  $(0.01) per fully diluted share, for severance agreements, including stock option modifications, with former executives.

"The increased demand for semiconductors has contributed to sequential quarterly revenue growth for our company,” said Carl Everett, CEO of FormFactor. “We remain focused on improving our operatingefficiency and returning to profitability. To do this, we continue to make adjustments to our company and products that will best serve our customers’ needs.”