FormFactor: 1Q Earnings Snapshot

On a per-share basis, the Livermore, California-based company said it had net income of 3 cents. Earnings, adjusted for amortization costs and stock option expense, were 17 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The integrated circuits diagnostic company posted revenue of $118.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $115.5 million.

For the current quarter ending in July, FormFactor expects its per-share earnings to range from 20 cents to 26 cents.

The company said it expects revenue in the range of $130 million to $138 million for the fiscal second quarter.

FormFactor shares have decreased 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.90, an increase of roughly 3 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FORM at https://www.zacks.com/ap/FORM