FormFactor Inc (FORM) shares are climbing in extended trading Wednesday after the semiconductor test and measurement company posted better-than-expected second-quarter results and issued strong guidance.
For Q2, FormFactor reported revenue of $258.24 million, beating the consensus estimate of $240 million. Adjusted earnings per share came in at 82 cents, well above the 61 cents analysts were expecting. Total revenue was up 14.2% year-over-year.
The company said it experienced broad-based demand during the quarter, with particular strength in High Bandwidth Memory and Co-Packaged Optics — two areas tied to the boom in high-performance computing and advanced packaging.
“Over the past four quarters, FormFactor has grown revenue more than 30%, expanded Non-GAAP gross margin 1,500 basis points, and tripled earnings per share,” said CEO Mike Slessor. “These improvements reflect years of investment to create and expand our unique position at the intersection of high-performance compute and advanced packaging.”
Looking ahead, FormFactor guided for third-quarter revenue in the range of $260 million to $280 million, versus estimates of $247.35 million. The company also expects adjusted earnings of 77 cents to 95 cents per share, compared to the 63 cents consensus.
Investors liked what they heard. FormFactor shares were up 15.34% in after-hours trading, changing hands at $96.25 at the time of publication on Wednesday.
