What happened
Shares of Ichor (ICHR) have skyrocketed today, and were up 21% as of 11:40 a.m. EST, after the company released preliminary fourth-quarter earnings results. Ichor, which makes crucial fluid delivery subsystems for semiconductor capital equipment, also scheduled its full earnings release and conference call while providing guidance for the first quarter.
So what
Revenue in the fourth quarter will be approximately $189 million, at the high end of the company's guidance of $180 million to $190 million. The consensus estimate called for $185.4 million in revenue. Ichor generated positive operating cash flow and finished 2019 with around $61 million in total cash and $181 million in total debt.
Image source: Getty Images.
The company had finished the third quarter with around $30.2 million in cash, which had been a year-over-year decrease as Ichor paid down part of its debt.
Now what
Ichor said it would release full financial results for the fourth quarter and full-year 2019 on Feb. 5 after market close. In terms of preliminary guidance, Ichor expects revenue in the first quarter to grow sequentially and be in the range of $210 million to $230 million.
That's well above the Street's current expectations, which are perched at just $186.9 million in revenue. For reference, Ichor posted $137.8 million in revenue in the first quarter of 2019.
