Ichor Holdings, Ltd. Announces Second Quarter 2023 Financial Results

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[{"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 and components for semiconductor capital equipment, today announced second quarter 2023 financial results.\n\n\nSecond quarter 2023 highlights:\n\n\n\nRevenues of $185 million, above the mid-point of our guidance range communicated in May;\n\n\n\nGross margin of 13.9% on a GAAP basis and 14.5% on a non‑GAAP basis;\n\n\n\nEarnings per share of $(0.71) on a GAAP basis and $0.02 on a non-GAAP basis; and\n\n\n\n$27 million of cash flow from operations.\n\n\n\n\"We are pleased to report that Ichor's second quarter results were at the upper end of our expectations, and with our current visibility, we continue to expect modest improvements in demand as we progress through the second half of the year,\" commented Jeff Andreson, chief executive officer. \"While we continue to witness frequent variations in customer forecasts, which provided both accelerations of demand into the second quarter as well as certain areas of incremental strength offsetting other softening segments within our forecast, our full year expectations are fairly consistent with what we discussed a quarter ago. Ichor continues to be focused on supporting our customer requirements while maintaining critical R&D investments to enable our technology roadmap, and we look forward to continuing our focus on developing proprietary new products and winning evaluation programs that will help drive revenue outperformance and strong operating leverage when the demand environment inevitably improves.\"\n\n\n\n\n \n\n\n\n\n\n\n\nQ2 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ1 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nQ2 2022\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nNet sales\n\n\n\n\n\n\n\n$\n\n\n\n\n\n\n185,008\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n225,870\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n329,560\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n13.9\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n14.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n16.8\n\n\n\n\n\n...

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