Ultra Clean Reports Fourth Quarter and Full Year 2019 Financial Results

About this update from Ultra Clean Holdings, Inc.

[{"type":"text","content":"HAYWARD, Calif., Feb. 19, 2020 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the fourth quarter and full year ended December 27, 2019.\n\n \n \n\n \n\"UCT's solid performance resulted in a very strong fourth quarter with revenue growing more than 12 percent and earnings per share increasing more than 57 percent sequentially on increased demand,\" said Jim Scholhamer, CEO. \"We are excited about the opportunities that lie ahead as the industry ramps to keep pace with technology transitions, and will continue to manage our business with a focus on sustainable and profitable growth.\"\n\"UCT generated $32.0 million of cash from operations in the quarter, bringing the total for the year to a record $121.0 million,\" added Sheri Savage, CFO. \"We paid down our long-term debt by $50.0 million during the year, significantly reducing our leverage, and ended the quarter with a cash balance of $162.5 million.\"\nFourth Quarter 2019 GAAP Financial Results\nTotal revenue was $286.4 million. SPS contributed $230.2 million and SSB added $56.2 million. Total gross margin was 19.7%, operating margin was 1.6%, and net loss was $10.3 million or $(0.26) per basic share. This compares to total revenue of $254.3 million, gross margin of 18.7%, operating margin of 3.2%, and net income of $0.5 million or $0.01 per basic and diluted share last quarter. \nFourth Quarter 2019 Non-GAAP Financial Results\nOn a non-GAAP basis, gross margin was 20.1%, operating margin was 8.1%, and net income was $13.2 million or $0.33 per diluted share and $0.40 per diluted share excluding stock-based compensation. This compares to gross margin of 19.2%, operating margin of 5.8%, and net income of $8.5 million or $0.21 per diluted share and $0.28 per diluted share excluding stock-based compensation last quarter.\nFull Year 2019 GAAP Financial Results\nTotal revenue was $1,066.2 million. SPS contributed $840.9 million and SSB added $225.3 million. Total gross margin was 18.5%, operating margin was 2.8%, and net loss was $9.4 million or $(0.24) per basic share. This compares to total revenue of $1,096.5 million, gross margin of 16.0%, operating margin of 5.5%, and net income of $36.6 million or $0.94 per diluted share in the prior year. \nFull Year 2019 Non-GAAP Financial Results\nOn a non-GAAP basis, gross margin was 19.0...

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