Ichor Announces Preliminary Fourth Quarter 2019 Financial Results & View for First Quarter 2020; as Well as Timing of Q4 Conf...
January 13 2020 - 4:05PM
Business Wire
Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design,
engineering, and manufacturing of critical fluid delivery
subsystems for semiconductor capital equipment, today announced
preliminary results for the fourth quarter of 2019.
For the fourth quarter of 2019, Ichor expects to report:
- Revenue of approximately $189 million, up 22% over the third
quarter of 2019 and at the high end of the guidance range; and
- Positive cash flows from operations, with total cash of
approximately $61 million at year-end 2019 and total debt of
approximately $181 million.
For the first quarter of 2020, Ichor expects continued
sequential revenue growth over the fourth quarter of 2019, with
total sales currently expected to be in the range of $210 to 230
million.
Fourth Quarter 2019 Earnings Conference
Call Information
Ichor will conduct a conference call to discuss its fiscal
fourth quarter and full year 2019 results and business outlook on
February 5th, 2020, at 2:00pm Pacific time. After the close of the
market on February 5th, Ichor will issue an earnings press release.
The press release will be available on Ichor's website at
www.ichorsystems.com.
To listen to the live webcast of the conference call, please
visit the investor relations section of Ichor's website at
ir.ichorsystems.com or go to the live link at
https://webcasts.eqs.com/ichorholdings20200205/en. After the event,
the on-demand webcast will be available at the same link. To listen
to the conference call live via telephone, please call (877)
407-0989 (domestic) or +1 (201) 389-0921 (international), Meeting
Number: 13697751.
About Ichor
We are a leader in the design, engineering and manufacturing of
critical fluid delivery subsystems and components for semiconductor
capital equipment. Our product offerings include gas and chemical
delivery subsystems, collectively known as fluid delivery
subsystems, which are key elements of the process tools used in the
manufacturing of semiconductor devices. Our gas delivery subsystems
deliver, monitor and control precise quantities of the specialized
gases used in semiconductor manufacturing processes such as etch
and deposition. Our chemical delivery subsystems precisely blend
and dispense the reactive liquid chemistries used in semiconductor
manufacturing processes such as chemical-mechanical planarization,
electroplating, and cleaning. We also manufacture
precision-machined components, weldments, and proprietary products
for use in fluid delivery systems for direct sales to our
customers, as well as certain components for internal use in fluid
delivery systems and for direct sales to our customers. This
vertically-integrated portion of our business is primarily focused
on metal and plastic parts that are used in gas and chemical
systems, respectively. Ichor is headquartered in Fremont, CA.
www.ichorsystems.com.
Safe Harbor Statement
Certain statements in this release are "forward-looking
statements" made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Words such as
"guidance," "expects," "intends," "projects," "plans," "believes,"
"estimates," "targets," "anticipates," and similar expressions are
used to identify these forward-looking statements. Examples of
forward-looking statements include, but are not limited to,
statements regarding financial results for the fiscal fourth
quarter of 2019, which are subject to adjustment in connection with
the year-end audit and preparation of our annual report on form
10-K, expected sales for the first quarter of 2020, as well as any
other statement that does not directly relate to any historical or
current fact. Forward-looking statements are based on current
expectations and assumptions, which may not prove to be accurate.
These statements are not guarantees and are subject to risks,
uncertainties and changes in circumstances that are difficult to
predict. Many factors could cause actual results to differ
materially and adversely from these forward-looking statements,
including: (1) dependence on expenditures by manufacturers and
cyclical downturns in the semiconductor capital equipment industry,
(2) reliance on a very small number of original equipment
manufacturers for a significant portion of sales, (3) negotiating
leverage held by our customers, (4) competitiveness and rapid
evolution of the industries in which we participate, (5) risks
associated with weakness in the global economy and geopolitical
instability, (6) keeping pace with developments in the industries
we serve and with technological innovation generally, (7)
designing, developing and introducing new products that are
accepted by original equipment manufacturers in order to retain our
existing customers and obtain new customers, (8) managing our
manufacturing and procurement process effectively, (9) defects in
our products that could damage our reputation, decrease market
acceptance and result in potentially costly litigation, and (10)
dependence on a limited number of suppliers. Additional information
concerning these and other factors can be found in Ichor's filings
with the Securities and Exchange Commission, including other risks,
relevant factors and uncertainties identified in the "Risk Factors"
section of Ichor's Annual Report on Form 10-K. We undertake no
obligation to update publicly or revise any forward-looking
statements contained herein to reflect future events or
developments, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200113005162/en/
Larry Sparks, CFO 510-897-5200 Claire McAdams, IR &
Strategic Initiatives 530-265-9899 IR@ichorsystems.com
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