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Ultra Clean Reports Second Quarter 2024 Financial Results
HAYWARD, Calif., July 25, 2024 /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 25, 2024 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the second quarter ended June 28, 2024.\n\n \n \n \n \n \n \n\n \n\"UCT executed well in Q2 due to ongoing strength in demand from the domestic China market and customers supplying High Bandwidth Memory and equipment supporting advanced packaging for AI applications,\" said Jim Scholhamer, CEO, \"UCT's broad portfolio and strategic footprint are supporting our customers' technology roadmaps in 2024 and will enable us to accelerate growth as the market strengthens.\"\nSecond Quarter 2024 GAAP Financial Results\nTotal revenue was $516.1 million. Products contributed $452.7 million and Services added $63.4 million. Total gross margin was 17.1%, operating margin was 4.4%, and net income was $19.1 million or $0.42 per diluted share. This compares to total revenue of $477.7 million, gross margin of 17.3%, operating margin of 3.6%, and net loss of $(9.4) million or $(0.21) per diluted share, in the prior quarter.\nSecond Quarter 2024 Non-GAAP Financial Results\nOn a non-GAAP basis, gross margin was 17.7%, operating margin was 6.9%, and net income was $14.4 million or $0.32 per diluted share. This compares to gross margin of 17.9%, operating margin of 6.5%, and net income of $12.1 million or $0.27 per diluted share in the prior quarter.\nThird Quarter 2024 Outlook\nThe Company expects revenue in the range of $490 million to $540 million. The Company expects GAAP diluted net income (loss) per share to be between $(0.07) and $0.13 and non-GAAP diluted net income per share to be between $0.22 and $0.42.\nConference Call\nThe conference call and webcast will take place on Thursday, July 25, 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 53952#. 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, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. Under its Products division, U...