Business
Ultra Clean Reports Second Quarter Financial Results
HAYWARD, Calif., July 28, 2022 /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 28, 2022 /PRNewswire/ -- Ultra Clean Holdings, Inc. (Nasdaq: UCTT), today reported its financial results for the second quarter ended July 1, 2022.\n\n \n \n \n \n \n \n\n \n\"We continue to see solid, broad-based demand for our diverse portfolio of products and services,\" said Jim Scholhamer, CEO. \"This diversity enhances our competitive advantage by increasing our resilience to fluctuations in any one segment. Together with our ability to partner closely with customers to respond to ever-changing market conditions, we are well positioned to continue growing our share in our served markets.\"\nSecond Quarter 2022 GAAP Financial Results\nTotal revenue was $608.7 million. Products contributed $532.0 million and Services added $76.7 million. Total gross margin was 19.4%, operating margin was (0.9)%, and net loss was $25.1 million or $0.56 per share. This compares to total revenue of $564.1 million, gross margin of 20.2%, operating margin of 8.1%, and net income of $27.9 million or $0.62 and $0.61 per basic and diluted share, respectively, in the prior quarter. The financial results for the second quarter include a $56.6 million pre-tax loss related to the divestiture of certain non-core subsidiary entities.\nSecond Quarter 2022 Non-GAAP Financial Results\nOn a non-GAAP basis, gross margin was 20.3%, operating margin was 11.1%, and net income was $47.4 million or $1.04 per diluted share. This compares to gross margin of 20.5%, operating margin of 10.9%, and net income of $43.3 million or $0.95 per diluted share in the prior quarter.\nThird Quarter 2022 Outlook\nThe Company expects revenue in the range of $585 million to $645 million and GAAP diluted net income per share to be between $0.32 and $0.55. The Company expects non-GAAP diluted net income per share to be between $0.94 and $1.18. \nConference Call\nThe conference call and webcast will take place on Thursday, July 28th 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 6271791. 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 deve...