FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share amounts)
(Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
|
September 28,
2024 |
June 29,
2024 |
September 30,
2023 |
September 28,
2024 |
September 30,
2023 | |||||||||||||||
| Revenues | $ | 207,917 | $ | 197,474 | $ | 171,575 | $ | 574,116 | $ | 494,939 | |||||||||
| Cost of revenues | 123,212 | 110,574 | 102,290 | 339,773 | 304,293 | ||||||||||||||
| Gross profit | 84,705 | 86,900 | 69,285 | 234,343 | 190,646 | ||||||||||||||
| Operating expenses: | |||||||||||||||||||
| Research and development | 31,243 | 31,564 | 31,014 | 91,434 | 87,599 | ||||||||||||||
| Selling, general and administrative | 35,607 | 37,874 | 35,564 | 106,560 | 101,561 | ||||||||||||||
| Total operating expenses | 66,850 | 69,438 | 66,578 | 197,994 | 189,160 | ||||||||||||||
| Gain on sale of business | — | 310 | — | 20,581 | — | ||||||||||||||
| Operating income | 17,855 | 17,772 | 2,707 | 56,930 | 1,486 | ||||||||||||||
| Interest income, net | 3,650 | 3,415 | 1,662 | 10,221 | 4,420 | ||||||||||||||
| Other income (expense), net | (558 | ) | 360 | 788 | 322 | 1,261 | |||||||||||||
| Income before income taxes | 20,947 | 21,547 | 5,157 | 67,473 | 7,167 | ||||||||||||||
| Provision for income taxes | 2,211 | 2,155 | 786 | 7,564 | 626 | ||||||||||||||
| Net income | $ | 18,736 | $ | 19,392 | $ | 4,371 | $ | 59,909 | $ | 6,541 | |||||||||
| Net income per share: | |||||||||||||||||||
| Basic | $ | 0.24 | $ | 0.25 | $ | 0.06 | $ | 0.77 | $ | 0.08 | |||||||||
| Diluted | $ | 0.24 | $ | 0.25 | $ | 0.06 | $ | 0.76 | $ | 0.08 | |||||||||
| Weighted-average number of shares used in per share calculations: | |||||||||||||||||||
| Basic | 77,406 | 77,235 | 77,571 | 77,364 | 77,265 | ||||||||||||||
| Diluted | 78,439 | 78,717 | 78,412 | 78,495 | 77,860 | ||||||||||||||
