FormFactor swings to 1Q loss on weaker computer memory sales

By Associated Press April 29, 2008 Comments (0)

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Microchip testing company FormFactor Inc. reported Tuesday it swung to a loss in the first quarter on weak demand for computer memory chips.

The company posted a net loss of $18 million, or 37 cents per share, compared with a profit of $15.2 million, or 31 cents per share, in the prior-year period.

Analysts polled by Thomson Financial expected a loss of 22 cents per share.

Earnings for the quarter included $5.3 million in restructuring costs as the company scaled back its global operations.

Revenue for the period fell 36 percent to $65.7 million from $102.3 million. Wall Street predicted revenue of $65.3 million.

FormFactor blamed the lower sales on weak demand for computer memory.

Shares of FormFactor fell $3.08, or 15.3 percent, to $16.99 in after-hours electronic trading. They earlier fell 21 cents to end regular trading at $20.07. Shares have traded in a 52-week range of $16.17 to $48.48.

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