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Ultra Clean Reiterates Fourth Quarter Guidance - Provides Outlook for First Quarter
HAYWARD, Calif., Jan. 11, 2021 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reiterated its guidance for the fourth quarter of 2020 and
About this update from Ultra Clean Holdings, Inc.
[{"type":"text","content":"HAYWARD, Calif., Jan. 11, 2021 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reiterated its guidance for the fourth quarter of 2020 and provided an outlook for the first quarter 2021. \n\n \n \n \n \n \n \n\n \nFor the fourth quarter, 2020, the Company expects to be above the midpoint of guidance for revenue and non-GAAP EPS. Guidance provided during the Third Quarter earnings call was revenue of $345 to $375 million and non-GAAP diluted net income per share between $0.63 and $0.77. \nDemand for UCT's semiconductor products and services remains strong and, given the industry's positive outlook, the Company anticipates revenue for the first quarter of 2021 to be in the range of $370 million to $400 million. Detailed guidance for the first quarter of 2021 will be provided during our earnings call.\nAbout Ultra Clean Holdings, Inc. \nUltra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, ultra-high purity cleaning and analytical services primarily for the semiconductor industry. Ultra Clean offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping and component manufacturing, and tool chamber parts cleaning and coating, as well as micro-contamination analytical services. Ultra Clean is headquartered in Hayward, California. Additional information is available at www.uct.com.\nUse of Non-GAAP Measures\nIn addition to providing results that are determined in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP), management uses non-GAAP gross margin, non-GAAP operating margin and non-GAAP net income to evaluate the Company's operating and financial results. We believe the presentation of non-GAAP results is useful to investors for analyzing our core business and business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP. \nThe Company currently defines non-GAAP net income as net income (loss) before amortization of intangible assets, restructuring charges, executive transition costs, acquisition costs, fair valu...