FormFactor, Inc. announces 2005 third quarter results

FormFactor, Inc. has announced its financial results for the third quarter of fiscal year 2005, ended September 24, 2005.

Quarterly revenues were a record $62.4 million, up 19% from $52.3 million in the second quarter of fiscal year 2005, and 21% from $51.4 million for the third quarter of fiscal year 2004.

Operating income for the third quarter of fiscal year 2005 was 13.7% of revenues, compared to 12.0% for the second quarter of fiscal year 2005, and 23.0% in the third quarter of 2004, as the company ramped its factory and incurred start-up costs of $2.3 million, $4.7 million, and $1.2 million, respectively.

Net income for the third quarter of fiscal year 2005 was $9.8million or $0.23 per share on a fully diluted basis, compared to $5..0million or $0.12 per share on a fully diluted basis for the second quarter of fiscal year 2005, and $7.5 million or $0.19 per share on a fully diluted basis for the third quarter of fiscal year 2004.

Bookings of $62.9 million for the third quarter of fiscal year 2005 also set a company record, with an increase of 8.5% from $58.0million for the second quarter of fiscal year 2005 and 39.5% from $45.1 million for the third quarter of fiscal year 2004.

Joseph Bronson, President of FormFactor stated, "We are pleased with the Company's results this quarter, as we made substantial progress ramping capacity at our new, industry-leading facility. This enabled us to exceed our revenue targets and more aggressively pursue a greater share of our large market opportunity."