As of today, FormFactor Inc (NASDAQ:$FORM)’s shares have added about 16.4% in the past month, way outperforming the market. Without a doubt, this has to do with the company’s optimal earnings report. Let’s take a look.
Earnings & Revenue Estimates in 2Q17
Non-GAAP earnings of 40 cents beat Zacks Consensus estimates by 12 cents
Revenues of $144 million beat Zacks Consensus estimates by a whopping $10 million
Revenues
Revenues increased by 11.8% sequentially and 73.3% year over year
The improvement was propelled by the company’s continued strength in the FormFactor core probe card business, and growing probe card and engineering systems businesses from Cascade Microtech
Revenues by Geography
The U.S. accounted for 35.1% of 2Q17 revenues
Taiwan accounted for 2.7% of 2Q17 revenues
South Korea accounted for 15.8% of 2Q17 revenues
Japan accounted for 7.4% of 2Q17 revenues
Europe accounted for 6.5% of 2Q17 revenues
The rest of the world accounted for 0.4% of 2Q17 revenues
Margins
Non-GAAp gross profit was $61.8 million, up from $47.6 million in the previous quarter
Gross margin was up 598 basis points
Adjusted operating expenses increased by 9.3%
Overall Outlook
FormFactor finished off the quarter with cash of #130 million compared to $121.9 million from the previous quarter. The stock itself has received a great Growth Score of A, and a momentum score of A. That means FormFactor received a strong “buy” recommendation from analysts, and is a highly suitable contender for growth and momentum investors.
Featured Image: depositphotos/albund
