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Ultra Clean Reports First Quarter 2024 Financial Results
HAYWARD, Calif., May 6, 2024 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the first quarter ended March
About this update from Ultra Clean Holdings, Inc.
[{"type":"text","content":"HAYWARD, Calif., May 6, 2024 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the first quarter ended March 29, 2024.\n\n \n \n \n \n \n \n\n \n\"UCT's first quarter revenue and earnings came in above midpoint due to pockets of strength in shipments related to High Bandwidth Memory and advanced packaging supporting AI as well as the operational efficiencies associated with those shipments,\" said Jim Scholhamer. \"While not a clear sign of a broader industry recovery right now, we anticipate these areas remaining strong.\"\nFirst Quarter 2024 GAAP Financial ResultsTotal revenue was $477.7 million. Products contributed $418.5 million and Services added $59.2 million. Total gross margin was 17.3%, operating margin was 3.6%, and net loss was $(9.4) million or $(0.21) per diluted share. This compares to total revenue of $444.8 million, gross margin of 16.0%, operating margin of 1.0%, and net loss of $(3.8) million or $(0.08) per diluted share, in the prior quarter.\nFirst Quarter 2024 Non-GAAP Financial ResultsOn a non-GAAP basis, gross margin was 17.9%, operating margin was 6.5%, and net income was $12.1 million or $0.27 per diluted share. This compares to gross margin of 16.7%, operating margin of 5.2%, and net income of $8.5 million or $0.19 per diluted share in the prior quarter.\nSecond Quarter 2024 OutlookThe Company expects revenue in the range of $465 million to $515 million. The Company expects GAAP diluted net loss per share to be between $(0.13) and $0.07 and non-GAAP diluted net income per share to be between $0.16 and $0.36.\nConference CallThe conference call and webcast will take place on Monday, May 6, 2024 at 1:45 p.m. PT and can be accessed by dialing 1-800-836-8184 or 1-646-357-8785. No passcode is required. A replay of the call will be available by dialing 1-888-660-6345 or 1-646-517-4150 and entering the confirmation code 78395#. The Webcast will be available on the Investor Relations section of the Company's website at http://uct.com/investors/events/.\nAbout Ultra Clean Holdings, Inc.Ultra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. Under its Products division, UCT offers its customers an integrated outsource...