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FormFactor Inc.

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FormFactor reported fourth quarter results wherein both the earnings and revenues have grown year over year. However, the company suffered from sluggish performance of DRAM and Flash product lines. Further, secular decline in the PC market remained an overhang for the company during the reported quarter. Additionally, the company’s exposure to the adverse effects of extreme pricing pressure in the semiconductor industry remain major concerns. Nevertheless, FormFactor’s increasing focus on the Mobile SoC and Mobile DRAM probe card segments continued to drive its top-line growth. Moreover, solid probe card demand in both Foundry and Logic markets contributed well. However, the nature of the business necessitates long lead times and customer concentration, which are headwinds.


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