Press release
Ichor Holdings, Ltd. Announces Third 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 third quarter 2020 financial results.\n\nHighlights for the third quarter of 2020:\n\n\nRevenues of $228 million, up 47% year-over-year and our sixth consecutive quarter of revenue growth;\n\n\nGross margin of 14.3% on a GAAP basis and 14.6% on a non-GAAP basis;\n\n\nNet earnings of $0.45 per diluted share on a GAAP basis and $0.62 on a non-GAAP basis; and\n\n\nCash flow from operations of $23.3 million and free cash flow of $20.7 million.\n\n\n“We are pleased to again report sequential increases in our quarterly revenues, gross margin, operating margin, and earnings per share for the third quarter of 2020,” commented Jeff Andreson, chief executive officer of Ichor. “Year-to-date in 2020, our results demonstrate strong execution against our stated objectives to outperform industry growth and also grow earnings faster than revenues, with revenues up 55%, and earnings up over twice that rate, for the first nine months of the year. Multiple drivers for our continued outperformance in 2020 include meaningful gains in market share, the continued ramp of EUV system shipments, and strong year-over-year growth in etch and CVD as a result of the beginning of a recovery in memory spending.” Mr. Andreson concluded, “Longer-term, the technology transitions to next-generation device nodes in both logic and memory are expected to drive continued growth in our served markets, and we believe Ichor is well-positioned to continue to deliver revenue growth outperformance as well as increased operating leverage in our future results.”\n\n\n\n \n\n\n\n \n\n\n\nQ3 2020\n\n\n\n \n\n\n\n \n\n\n\nQ2 2020\n\n\n\n \n\n\n\n \n\n\n\nQ3 2019\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n(dollars in thousands, except per share amounts)\n\n\n\n \n\n\n\n\n\nU.S. GAAP Financial Results:\n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n \n\n\n\n$\n\n\n\n227,678\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n221,564\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n154,456\n\n\n\n \n\n\n\n\n\nGross profit percent\n\n\n\n \n\n\n\n \n\n\n\n14.3\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n13.2\n\n\n\n%\n\n\n\n \n\n\n\n \n\n\n\n13.4\n\n\n\n%\n\n\n\n\n\nOperating income percent\n\n\n\n \n\n\n\n \n\n\n\n5.5\n\n\...