FormFactor Adjusting Guidance
FormFactor (NASDAQ: FORM) announced after the market close on Tuesday that it is adjusting its previously issued guidance up based on "strength" in its SOC and DRAM market segments.
The company's CEO, Tom St. Dennis commented, "While we are encouraged by the strong momentum in our business, we remain focused on our longer term strategic initiatives that will drive growth beyond 2014."
Looking to the newly issued guidance, FormFactor expects second quarter revenue to be in the range of $65-69 million up from $62-55 million. This is coupled with an increase in expected gross margin from 31-34 percent to 34-37 percent.
The company has said it will provide further detail about this newly issued guidance during its presentation at the 42nd annual Cowen and Company Technology, Media and Telecom Conference scheduled for May 29 at 2:00 p.m. (EDT). A live webcast of this presentation will be available in the investor relations section of its website.
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