Ultra Clean Reports Q4 EPS of $0.17 vs. $0.23

Ultra Clean Holdings, Inc.

today reported its financial results for the fourth quarter of fiscal year 2010 ended December 31, 2010. Revenue for the fourth quarter was $120.3 million, an increase of 1.5% from the third quarter 2010 and an increase of 65.3% from the same period a year ago. Gross margin for the fourth quarter was 12.3%, compared to 14.5% for the third quarter 2010 and 11.6% for the same period a year ago. The company recorded net income of $3.9 million, or $0.17 per share, compared to net income of $6.7 million, or $0.29 per share, for the third quarter 2010 and net income of $2.5 million, or $0.11 per share, for the fourth quarter of 2009. Net income for the fourth quarter 2010 included one-time employment related cash charges of $400,000. Cash at the end of the fourth quarter 2010 was $34.7 million, an increase of $6.9 million from the prior quarter. Net inventory was $59.3 million at the end of the fourth quarter, a decrease of $4.8 million from the prior quarter.