FormFactor, Inc. Reports Strong Fourth Quarter and Full Year 2017 Results


FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 
(In thousands, except per share amounts) 
(Unaudited)

  Three Months Ended  Fiscal Year Ended
  December 30, 2017  December 31, 2016  December 30, 2017  December 31, 2016
Revenues$131,901  $123,888  $548,441  $383,881 
Cost of revenues83,272  83,613  332,844  281,199 
Gross profit48,629  40,275  215,597  102,682 
Operating expenses:       
Research and development18,513  18,218  73,807  57,453 
Selling, general and administrative24,238  23,890  94,679  73,444 
Restructuring and impairment charges, net481  12,697  810  19,692 
Total operating expenses43,232  54,805  169,296  150,589 
Operating income (loss)5,397  (14,530) 46,301  (47,907)
Interest income264  60  548  327 
Interest expense(1,045) (1,255) (4,491) (2,391)
Other income (expense), net(170) 308  (152) (224)
Income (loss) before income taxes4,446  (15,417) 42,206  (50,195)
Provision (benefit) for income taxes(1,142) 26  1,293  (43,638)
Net income (loss)$5,588  $(15,443) $40,913  $(6,557)
Net income (loss) per share:       
Basic$0.08  $(0.22) $0.57  $(0.10)
Diluted$0.07  $ (0.22 )   $ 0.55     $ (0.10 )
Weighted-average number of shares used in per share calculations:              
Basic 72,846     70,807     72,292     64,941  
Diluted 74,756     70,807     74,239     64,941  

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