FormFactor $42~$38 reports in-line EPS, revs above consensus (42.91 +2.27) : Reports Q3 (Sep) earnings of $0.33 per share, in line with the Reuters Estimates consensus of $0.33; revenues rose 55.1% year/year to $96.8 mln vs the $94.7 mln consensus.
FORM FormFactor: Conference call summary (42.91 +2.27) -Update-
Co sees Q4 GAAP EPS of $0.30-0.33 vs. consensus of $0.35, assuming higher tax rate in Q4; sees revs of $93-97 mln vs. consensus of $99.15 mln. Admitted they need strong booking and turn rates in Q4 to meet guidance, but add they have had increasing booking and turn rates last three quarters and expect even better this quarter... Started Harmony NAND Flash shipments this quarter and expect it to make significant gains. Says while it's an important target for co in Q4, really important starting next year. Co says had NAND delay due to mechanical issues, but now problems are behind them... Co had factory write-ups which affected gross margins in quarter, though says they were anticipated. Also saw increase in inventory reserves as a result of strong plant productivity. Will adjust planning yields back in line to improve inventory write-offs.
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