Ultra Clean Reports Fourth Quarter and Full Year 2024 Financial Results

About this update from Ultra Clean Holdings, Inc.

[{"type":"text","content":"HAYWARD, Calif., Feb. 24, 2025 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the fourth quarter and full year ended December 27, 2024.\n\n \n \n \n \n \n \n\n \n\"UCT's fourth quarter capped off a strong year with total revenue growing 21 percent over the prior year, significantly outperforming the overall WFE market,\" said Jim Scholhamer, CEO. \"Our unique ability to support the key drivers of semiconductor innovation, including those required by advancements in artificial intelligence, position us well to benefit over the long-term.\"\n\"Our cash flow generation for the year enabled us to make strategic investments to drive long-term growth,\" said Sheri Savage, CFO. \"We now have the global manufacturing capacity to support a $4 billion revenue run rate.\"\nFourth Quarter 2024 GAAP Financial ResultsTotal revenue was $563.3 million. Products contributed $503.5 million and Services added $59.8 million. Total gross margin was 16.3%, operating margin was 4.6%, and net income was $16.3 million or $0.36 per diluted share. This compares to total revenue of $540.4 million, gross margin of 17.3%, operating margin of 4.7%, and net loss of $(2.3) million or $(0.05) per diluted share, in the prior quarter.\nFourth Quarter 2024 Non-GAAP Financial ResultsOn a non-GAAP basis, gross margin was 16.8%, operating margin was 7.0%, and net income was $22.9 million or $0.51 per diluted share. This compares to gross margin of 17.8%, operating margin of 7.3%, and net income of $15.9 million or $0.35 per diluted share in the prior quarter.\nFull Year 2024 GAAP Financial ResultsTotal revenue was $2,097.6 million. Products contributed $1,853.7 million and Services added $243.9 million. Total gross margin was 17.0% operating margin was 4.3%, and net income was $23.7 million or $0.52 per diluted share. This compares to total revenue of $1,734.5 million, gross margin of 16.0%, operating margin of 2.0%, and net loss of $(31.1) million or $(0.70) per diluted share in the prior year.\nFull Year 2024 Non-GAAP Financial ResultsOn a non-GAAP basis, the company reported gross margin of 17.5%, operating margin of 6.9%, and net income of $65.2 million or $1.44 per diluted share. This compares to gross margin of 16.6%, operating margin of 4.9%, and net income of $25.2 million or $0.56 per diluted share in the p...

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