FormFactor, Inc. Provides Update to Q1'16 Guidance
This revision is the result of two timing-related factors. First and primarily, to meet a doubling in demand for SoC probe cards by a key customer, the company increased capacity, although at a rate slower than originally planned. The company holds record backlog for this product line, and expects to continue to produce at record levels through the remainder of 2016. Second, the company experienced push-outs of DRAM probe card deliveries by certain customers from the first quarter to the early part of the second quarter. This SoC and DRAM demand is secured by firm customer purchase orders.
In addition, the company provided preliminary second quarter revenue guidance of
"With the strong demand acceleration for the company's SoC probe cards, and the gradual increase in DRAM new-design activity, we remain confident that we will grow annual revenues for the fourth consecutive year," commented
The company also confirmed that it anticipates closing its acquisition of Cascade Microtech by mid-2016 as previously announced.
Conference Call and Webcast Details
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risks in technical execution and capacity expansion; changes in expected seasonality; risks to the company's ability to execute on its operational model; risks to the company's ability to realize sustainable profitability to achieve its growth objectives and to meet customer demand for its products; and changes in the market and macro-economic environments; the timing to consummate the proposed acquisition of Cascade Microtech; the risks that one or more conditions to the closing of acquisition of Cascade Microtech may not be satisfied; the challenges and costs of closing, integrating, restructuring and achieving anticipated synergies relating to such acquisition; the ability to retain key employees, customers and suppliers; the diversion of management time on merger-related issues; and changes in
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FORM-F
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