FormFactor, Inc. Raises Third Quarter Guidance Range
(Marketwire Via Acquire Media NewsEdge) LIVERMORE, CA -- (Marketwired) -- 09/01/14 --
FormFactor, Inc. (NASDAQ: FORM) today announced it expects revenue for its fiscal third quarter of 2014 to be between $71 and $75 million, higher than the company's previous revenue guidance of $68 to $73 million. Customer demand across all segments is the main driver for the increase to the company's expected revenue results. The Company also raised the midpoint of its non-GAAP gross margin guidance, increasing the guidance range to be between 35% to 38%, higher than the company's previous gross margin guidance of 34% to 38%.
"As we move through Q3, we continue to see strong business momentum across all market segments," said Tom St. Dennis, CEO and Executive Chairman of the Board of FormFactor, Inc. "We remain driven to deliver products that address the semiconductor industry's increasingly complex wafer test requirements and that position FormFactor for future growth as a critical business partner to our customers."
FormFactor's management will further discuss the financial guidance on September 2nd 2014 at 11:15 a.m. ET, or 8:15 a.m. PT at previously scheduled Citi 2014 Global Technology Conference. The public is invited to listen to a live web cast of FormFactor's conference presentation on the Investors section of the company's website at www.formfactor.com.
FormFactor, Inc. (NASDAQ: FORM) is a leader in advanced wafer test solutions. The company's advanced wafer probe cards enable semiconductor manufacturers to lower their overall production costs, improve yields, and bring next-generation devices to market. FormFactor's acquisition of MicroProbe creates the leading wafer test solution provider for both memory and non-memory semiconductor manufacturers. FormFactor is headquartered in Livermore, California with operations in Europe, Asia and North America. For more information, visit the company's website at www.formfactor.com.
FormFactor, MicroProbe, and the FormFactor and MicroProbe logos are registered or unregistered trademarks of FormFactor, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.
Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the federal securities laws, including statements regarding anticipated results, market conditions or trends, expectations and operating plans. These forward-looking statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to: changes in the market demand for the company's products; a decrease in the business momentum for the company's products; the company's ability to deliver products that address the semiconductor industry's increasingly complex wafer test requirements; and the company's ability to be a critical business partner to its customers and drive future growth. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in the company's Form 10-K for the fiscal year ended December 28, 2013, as filed with the SEC, and subsequent SEC filings, including the company's Quarterly Reports on Forms 10-Q. Copies of the company's SEC filings are available at http://investors.formfactor.com/sec.cfm. The company assumes no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.
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