FormFactor, Inc. Reports Second Quarter Results
FORMFACTOR, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
June 28, December 28,
2014 2013
-------------- --------------
ASSETS
Current assets:
Cash and cash equivalents $ 69,859 $ 59,196
Marketable securities 79,182 91,895
Accounts receivable, net 41,962 30,189
Inventories, net 22,050 20,707
Deferred tax assets 2,841 2,776
Refundable income taxes 782 782
Prepaid expenses and other current assets 7,476 6,106
-------------- --------------
Total current assets 224,152 211,651
Restricted cash 435 435
Property, plant and equipment, net 29,210 35,190
Goodwill 30,731 30,731
Intangibles, net 47,326 57,470
Deferred tax assets 3,983 3,960
Other assets 1,291 1,271
-------------- --------------
Total assets $ 337,128 $ 340,708
============== ==============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 18,388 $ 16,313
Accrued liabilities 17,205 13,985
Capital leases, current portion -- 270
Income taxes payable 493 172
Deferred revenue 7,238 7,030
-------------- --------------
Total current liabilities 43,324 37,770
Long-term income taxes payable 2,318 2,497
Deferred tax liabilities 3,029 3,029
Deferred rent and other liabilities 3,443 3,326
-------------- --------------
Total liabilities 52,114 46,622
-------------- --------------
Commitments and contingencies
Stockholders' equity:
Common stock and capital in excess of par
value 703,189 695,686
Accumulated other comprehensive gain
(loss) 213 (249)
Accumulated deficit (418,388) (401,351)
-------------- --------------
Total stockholders' equity 285,014 294,086
-------------- --------------
Total liabilities and stockholders'
equity $ 337,128 $ 340,708
============== ==============