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Ultra Clean Reports Second Quarter 2023 Financial Results
HAYWARD, Calif., July 27, 2023 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the second quarter ended
About this update from Ultra Clean Holdings, Inc.
[{"type":"text","content":"HAYWARD, Calif., July 27, 2023 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the second quarter ended June 30, 2023.\n\n \n \n \n \n \n \n\n \n\"The semiconductor industry continued to face some near-term headwinds in the second quarter,\" said Jim Scholhamer, CEO. \"Our Products business performed as expected, however, we experienced pockets of weakness in other areas. While recent cost reduction initiatives are reflected in our financial results, we will continue to respond to current market conditions while driving strategic initiatives in preparation for the next industry ramp.\"\nSecond Quarter 2023 GAAP Financial Results\nTotal revenue was $421.5 million. Products contributed $362.5 million and Services added $59.0 million. Total gross margin was 16.2%, operating margin was 3.0%, and net loss was $(9.4) million or $(0.21) per diluted share. This compares to total revenue of $433.3 million, gross margin of 16.8%, operating margin of 2.9%, and net loss was $(3.4) million or $(0.08) per diluted share, in the prior quarter.\nSecond Quarter 2023 Non-GAAP Financial Results\nOn a non-GAAP basis, gross margin was 16.7%, operating margin was 5.0%, and net income was $7.1 million or $0.16 per diluted share. This compares to gross margin of 17.3%, operating margin of 5.1%, and net income of $7.6 million or $0.17 per diluted share in the prior quarter.\nThird Quarter 2023 Outlook\nThe Company expects revenue in the range of $405.0 million to $455.0 million. The Company expects GAAP diluted net income (loss) per share to be between $(0.19) and $0.04 and non-GAAP diluted net income per share to be between $0.08 and $0.28.\nConference Call\nThe conference call and webcast will take place on Thursday, July 27, 2023 at 1:45 p.m. PT and can be accessed by dialing 1-844-826-3034 or 1-412-317-5179. No passcode is required. A replay of the call will be available by dialing 1-877-344-7529 or 1-412-317-0088 and entering the confirmation code 5731157. 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. \nUltra Clean Holdings, Inc. is a leading developer and supplier of critical subsystems, components and parts, and ultra-high purity cleaning and analytical services, primarily for the sem...