FormFactor Inc. (NASDAQ: FORM) shares plunged more than 22% in the after-hours session on Wednesday following the company's mixed fourth-quarter results and weak first-quarter guidance.
The semiconductor company reported Q4 adjusted earnings per share of $0.27, missing analysts' expectations of $0.29. Revenue in the quarter came in at $189.48 million, also slightly lower than the consensus estimate of $191.12 million.
For the first quarter, FormFactor projected revenue in the range of $170 million plus or minus $5 million, significantly below analysts' expectations of $192.93 million. The company also provided a disappointing earnings guidance for Q1, forecasting adjusted EPS of $0.19 plus or minus $0.04, compared to the consensus estimate of $0.33.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.