FormFactor Posts 93c Third-Quarter EPS
FORM has more than doubled off its 52-week low of $41.84.
Summary
FormFactor reported third-quarter EPS of 93 cents, per Dow Jones Newswires, alongside adjusted EPS of $1.04 and net income of $73.8M. Revenue came in at $280.5M, versus an IBES estimate of USD 270.5 million. That follows a record Q2 in which revenue hit $258.2M and net income $56.2M on 50.7% gross margins, so the bar was already high. Context worth keeping in mind: Teradyne closed a $300M strategic equity investment in FormFactor in mid-October, buying 2.23 million shares, which puts fresh capital and a strategic partner behind the story.
At the time of this announcement, FORM was trading at $110.36 on NASDAQ in the Technology sector, with a market capitalization of approximately $8.6B. The 52-week trading range was $41.84 to $160.27. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.