Top-News
Mittwoch,
26.10.2016 22:10
von
PR Newswire
| Aufrufe: 58
Ultra Clean Announces Third Quarter 2016 Financial Results
Ein Mann liest Wirtschaftsnachrichten (Symbolbild).
pixabay.com
PR Newswire
HAYWARD, Calif., Oct. 26, 2016
HAYWARD, Calif., Oct. 26, 2016 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries, today reported its financial results for the third quarter ended September 23, 2016.
"Strong momentum led to record revenues and significant improvement on the bottom line this quarter," said Jim Scholhamer, President and CEO. "As a result of our strategic focus on the semiconductor capital equipment market, we are expanding our capabilities to cost-effectively meet customers' dynamic needs. As the market continues its upward trajectory, our solid customer relationships and growing market position are enabling us to outpace the broader industry."
GAAP Financial Results
Total revenue for the third quarter of 2016 was $146.2 million, an increase of 12.6% compared to the second quarter of 2016 and 19.0% compared to the same period a year ago. Semiconductor revenue increased 10.6% compared to the second quarter of 2016 and 14.6% compared to the same period a year ago. Total revenue from outside the U.S. rose 24.1% sequentially and 66.1% compared to the same period a year ago.
Gross margin for the third quarter of 2016 was 16.1%, compared to 14.7% for the prior quarter and 15.4% for the same period a year ago.
Net income for the third quarter was $2.6 million, or $0.08 per share (basic and diluted), compared to net income of $0.7 million, or $0.02 per share (basic and diluted) in the previous quarter, and net income of $1.7 million, or $0.05 per share (basic and diluted) for the same period a year ago.
Net cash for the third quarter 2016 increased $3.9 million compared to the second quarter of 2016. Cash and cash equivalents were $47.3 million, an increase of $3.2 million compared to the second quarter of 2016. Outstanding debt was $69.2 million, a decrease of $0.7 million compared to the second quarter of 2016.
Non-GAAP Financial Results
Non-GAAP net income for the third quarter of 2016 was $5.7 million and non-GAAP net income per diluted share was $0.17. Non-GAAP net income and non-GAAP net income per diluted share exclude: (i) pre-tax charges of $1.4 million for intangible assets amortization costs, $0.9 million of costs related to our executive transition, offset partially by the reversal of a previously accrued expense of $0.1 million related to the closure of one of the Company's U.S. facilities and by the corresponding increase in tax expense from these items of approximately $0.6 million, and (ii) $1.4 million of income tax expense related to income tax valuation allowances. This compares to non-GAAP net income and non-GAAP net income per diluted share of $3.2 million and $0.10, respectively, and non-GAAP net income of $3.1 million and non-GAAP net income per diluted share of $0.10 for the third quarter of 2015.
The Company has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables included in this press release.
Fourth Quarter 2016 Outlook
The Company expects revenue to be between $146 million to $151 million and GAAP diluted net income per share to be between $0.12 to $0.15. The Company expects non-GAAP net income per diluted share to be in the range of $0.17 to $0.20.
Conference Call
UCT will conduct a conference call today, Wednesday, October 26, 2016, beginning at 1:45 p.m. PT. The call-in number is (877) 870-4263 (domestic) and (412) 317-0790 (international). A replay of the conference will be available for seven days following the call at (877) 344-7529 (domestic) and (412) 317-0088 (international). The confirmation number for live broadcast and replay is 10094208 (all callers).
About Ultra Clean Holdings, Inc.
Ultra Clean Holdings, Inc. is a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries. Ultra Clean offers its customers an integrated outsourced solution for gas delivery systems and other subassemblies, improved design-to-delivery cycle times, component neutral design and manufacturing and component testing capabilities. Ultra Clean's customers are primarily original equipment manufacturers for the semiconductor capital equipment, flat panel, medical, energy and research industries. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.
Use of Non-GAAP Measures
Management uses non-GAAP net income and net income per diluted share to evaluate the Company's operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release. A reconciliation of our guidance for non-GAAP net income per diluted share for the fourth quarter of fiscal 2016 is not available due to fluctuations in the geographic mix of our earnings from quarter to quarter, which impacts our tax rate and cannot be reasonably predicted or determined. As a result, such reconciliation is not available without unreasonable efforts and we are unable to determine the probable significance of the unavailable information.
Safe Harbor Statement
The foregoing information contains, or may be deemed to contain, "forward-looking statements" (as defined in the US Private Securities Litigation Reform Act of 1995) which reflect our current views with respect to future events and financial performance. We use words such as "anticipates,", "projection", "outlook", "forecast", "believes," "plan," "expect," "future,"' "intends," "may," "will," "estimates," "predicts," and similar expressions to identify these forward-looking statements. Forward looking statements included in this press release include our expectations about the semiconductor capital equipment market and with respect to our fourth quarter 2016 outlook. All forward-looking statements address matters that involve risks and uncertainties. Accordingly, the Company's actual results may differ materially from the results predicted or implied by these forward-looking statements. These risks, uncertainties and other factors also include, among others, those identified in "Risk Factors", "Management's Discussion and Analysis of Financial Condition and Results of Operations'' and elsewhere in our annual report on Form 10-K for the year ended December 25, 2015 as filed with the Securities and Exchange Commission and subsequently filed quarterly reports on Form 10-Q. Ultra Clean Holdings, Inc. undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise unless required by law.
Contact:
Sheri Brumm
UCT Senior VP Finance, CFO
510-576-4705
Annie Leschin
Investor Relations
415-775-1788
| ULTRA CLEAN HOLDINGS, INC. | |||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
| | |||||||||||
| (Unaudited; in thousands, except per share data) | |||||||||||
| | |||||||||||
| | Three months ended | | Nine months ended | ||||||||
| | September 23, | | September 25, | | September 23, | | September 25, | ||||
| 2016 | | 2015 | 2016 | | 2015 | ||||||
| | | | | | | | | | | | |
| Sales | $ | 146,154 | | $ | 122,816 | | $ | 388,214 | | $ | 365,683 |
| Cost of goods sold | | 122,663 | | | 103,868 | | | 331,132 | | | 307,994 |
| Gross profit | | 23,491 | | | 18,948 | | | 57,082 | | | 57,689 |
| | | | | | | | | | | | |
| Operating expenses: | | | | | | | | | | | |
| Research and development | | 2,447 | | | 2,352 | | | 7,082 | | | 7,319 |
| Sales and marketing | | 2,819 | | | 2,844 | | | 8,537 | | | 8,494 |
| General and administrative | | 11,525 | | | 10,673 | | | 31,742 | | | 32,721 |
| Total operating expenses | | 16,791 | | | 15,869 | | | 47,361 | | | 48,534 |
| Income from operations | | 6,700 | | | 3,079 | | | 9,721 | | | 9,155 |
| Interest and other income (expense), net | | (1,336) | | | (756) | | | (3,263) | | | (2,071) |
| Income before provision for income taxes | | 5,364 | | | 2,323 | | | 6,458 | | | 7,084 |
| Income tax provision | | 2,750 | | | 647 | | | 6,360 | | | 2,028 |
| Net income | $ | 2,614 | | $ | 1,676 | | $ | 98 | | $ | 5,056 |
| | | | | | | | | | | | |
| Net income per share: Werbung Mehr Nachrichten zur Ultra Clean Holdings Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | |||||||||||
