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FormFactor fiscal Q1 loss widens YOY

FormFactor Inc. said its normalized net income for the fiscal first quarter ended March 26 came to a loss of $7.3 million, compared with a loss of $58,130 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 16.1% from negative 0.1% in the year-earlier period.

Total revenue declined 24.3% on an annual basis to $53.6 million from $70.8 million, and total operating expenses fell 8.3% on an annual basis to $65.1 million from $71.0 million.

Reported net income came to a loss of $14.0 million, or a loss of 24 cents per share, compared to income of $588,380, or 1 cents per share, in the prior-year period.