FormFactor Inc.

NASDAQ:FORM   11:33:48 AM EDT
37.39
-0.08 (-0.21%)
Layoffs, Restructuring / Reorganization, Earnings Announcements

FormFactor Inc Says On September 25, Adopted Restructuring Plans To Improve Business Effectiveness And Streamline Operations

Published: 09/29/2021 10:28 GMT
FormFactor Inc. (FORM) - Formfactor Inc - on September 25, Adopted Restructuring Plans to Improve Business Effectiveness and Streamline Operations.
Formfactor Inc - Consolidating Certain Manufacturing Facilities for Both Probe Cards Segment and Systems Segment.
Formfactor Inc - Expect Actions Defined Under These Plans Will Be Largely Completed by End of December 2022.
Formfactor Inc - Additionally, We Are Undertaking Actions to Adjust Capacity for Certain Legacy and Ongoing Product Offerings.
Formfactor Inc - Restructuring Includes Plans to Consolidate Or Relocate Certain Leased Locations in United States to Other Locations.
Formfactor Inc - As a Result of Location Changes, Incurred, Or Expect to Incur, Personnel Related Costs to Sever, Relocate Or Retain Select Employees.
Formfactor Inc - Restructuring Plans Expected to Result in Co Recording Restructuring Charges of About $8.0 Million to $10.5 Million on a GAAP Basis.
Formfactor Inc - Expects Restructuring and Other Related Charges of About $4.4 Million to Be Incurred in Q3 of Current Fiscal Year.
Formfactor Inc - Expects About $6.5 to $8.0 Million of Charges Will Result in Future Cash Expenditures and About $1.5 to $2.5 Million in Non-cash Charges.
Formfactor Inc - Financial Impact of Actions Expected to Reduce Co's Cost Structure by About $3.0 to $4.0 Million on an Annualized Basis Once Implemented.
Revenue is expected to be $188.59 Million
Adjusted EPS is expected to be $0.36

Next Quarter Revenue Guidance is expected to be $193.17 Million
Next Quarter EPS Guidance is expected to be $0.39

More details on our Analysts Page.