FormFactor (Nasdaq: FORM) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), FormFactor beat expectations on revenues and exceeded expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped and GAAP loss per share dropped.

Gross margins grew, operating margins dropped, and net margins grew.

Revenue details
FormFactor reported revenue of $34.8 million. The four analysts polled by S&P Capital IQ hoped for revenue of $32.2 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $40.4 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.29. The four earnings estimates compiled by S&P Capital IQ averaged -$0.45 per share. GAAP EPS were -$0.35 for Q1 compared to -$0.42 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 11.9%, 180 basis points better than the prior-year quarter. Operating margin was -50.1%, 90 basis points worse than the prior-year quarter. Net margin was -50.1%, 290 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $38.2 million. On the bottom line, the average EPS estimate is -$0.34.

Next year's average estimate for revenue is $169.3 million. The average EPS estimate is -$1.22.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,421 members rating the stock outperform and 37 members rating it underperform. Among 419 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 411 give FormFactor a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FormFactor is outperform, with an average price target of $6.94.

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