Press release
Ichor Holdings, Ltd. Announces Second Quarter 2020 Financial Results
FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery
About this update from Ichor Holdings
[{"type":"text","content":" FREMONT, Calif.--(BUSINESS WIRE)--\nIchor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering, and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment, today announced second quarter 2020 financial results.\n\n\nHighlights for the second quarter of 2020:\n\n\n\nRevenues of $222 million, up 59% year-over-year and our fifth consecutive quarter of revenue growth;\n\n\nNet earnings of $0.30 per diluted share on a GAAP basis and $0.54 on a non-GAAP basis; and\n\n\nFor the first half of 2020, revenues increased 59% and earnings per share, on a GAAP and non-GAAP basis, increased by over 120% compared to the first half of 2019.\n\n\n\n“In light of the constraints placed on our global operations and supply chain as a result of COVID‑19, we are very pleased to report sequential increases in our quarterly revenues, gross margin, operating margin, and earnings per share for the second quarter,” commented Jeff Andreson, chief executive officer of Ichor. “Our foremost priority is to ensure the health and safety of our employees and their families, and our performance in the second quarter is testament to the dedication, commitment, and ingenuity of our workforce in delivering exceptional service to our customers during this unprecedented and challenging time. Our operational capabilities have largely recovered from the significant constraints experienced earlier this year, but we remain vigilant in continuing to take all appropriate actions to protect our people and safely maintain business operations globally.” Mr. Andreson concluded, “Our continued market share gains are evident in our year-to-date revenue growth, which is significantly greater than the rate of growth for the overall industry. At the same time, our year-over-year growth in earnings per share for the first half of 2020 is more than double the rate of our revenue growth, demonstrating strong operational performance and continued execution toward our stated objective to grow earnings faster than revenues.”\n\n\n\n\n \n\n\n\n \n\n\n\nQ2 2020\n\n\n\n \n\n\n\n \n\n\n\nQ1 2020\n\n\n\n \n\n\n\n \n\n\n\nQ2 2019\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n \n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$\n\n\n\n221,564\n\n\n\n \n\n\n\n \n\n\n\n...