FORM FY 2018 Earnings Report — FormFactor, Inc. Revenue & Financial Results | Market Cap Arena

FormFactor, Inc.FORM

FY 2018 Earnings

Reported February 26, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$530M	—	$548M	—	-3.4%
Op. Income	$36M	—	$46M	—	-22.0%
Gross Margin	39.7%	—	39.3%	—	0.4pp
Net Margin	19.6%	—	7.5%	—	12.2pp
EPS (Diluted)	$1.38	—	$0.55	—	150.9%
Free Cash Flow	$49M	—	$69M	—	-28.8%

Revenue Flow

Item	Amount
REVENUE	$530M
Cost of Revenue	$319M
GROSS PROFIT	$210M
R&D Expenses	$75M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$99M
Other Expenses	$0
Operating Expenses	$174M
Cost & Expenses	$494M
OPERATING INCOME	$36M
Interest Income	$1M
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$34M
Income Tax Expense	-$70M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$44M
EBIT	$37M
EBITDA	$81M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$530M
Cost of Revenue	$319M
GROSS PROFIT	$210M
R&D Expenses	$75M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$99M
Other Expenses	$0
Operating Expenses	$174M
Cost & Expenses	$494M
OPERATING INCOME	$36M
Interest Income	$1M
Interest Expense	$3M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$34M
Income Tax Expense	-$70M
Net Income from Continuing Ops	$104M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$104M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$104M
D&A	$44M
EBIT	$37M
EBITDA	$81M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$104M
Depreciation & Amortization	$44M
Stock-Based Compensation	$18M
Deferred Income Tax	-$75M
Other Non-Cash Items	$11M
Change in Working Capital	-$33M
OPERATING CASH FLOW	$69M
Capital Expenditure	-$20M
Acquisitions (Net)	$94.0K
Purchases of Investments	-$31M
Sales/Maturities of Investments	$29M
Other Investing Activities	$23.0K
NET CASH FROM INVESTING	-$21M
Net Debt Issuance	-$41M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$39M
FREE CASH FLOW	$49M
Net Change in Cash	$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$98M
Short-Term Investments	$51M
Net Receivables	$95M
Inventory	$78M
Other Current Assets	$849.0K
TOTAL CURRENT ASSETS	$338M
PP&E (Net)	$54M
Goodwill	$189M
Intangible Assets	$68M
Long-Term Investments	$1M
Tax Assets	$77M
Other Non-Current Assets	$968.0K
TOTAL NON-CURRENT ASSETS	$390M
TOTAL ASSETS	$728M
Account Payables	$40M
Short-Term Debt	$30M
Deferred Revenue	$5M
Other Current Liabilities	$8M
TOTAL CURRENT LIABILITIES	$103M
Long-Term Debt	$35M
Deferred Revenue NC	$8M
Deferred Tax Liabilities	$2M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$46M
TOTAL LIABILITIES	$148M
Common Stock	$75.0K
Additional Paid-In Capital	$863M
Retained Earnings	-$284M
Treasury Stock	$0
Accum. Other Comp. Income	$780.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$580M
Minority Interest	$0
TOTAL EQUITY	$580M
TOTAL LIABILITIES & EQUITY	$728M
Total Debt	$65M
Net Debt	-$34M