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Ultra Clean Holdings swings to loss in fiscal Q1

Ultra Clean Holdings Inc. said its normalized net income for the fiscal first quarter ended March 25 came to a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

The per-share result swung to a loss from the prior-year profit of 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $855,000, compared with income of $2.7 million in the year-earlier period.

The normalized profit margin dropped to negative 0.8% from 2.1% in the year-earlier period.

Total revenue fell 10.4% year over year to $112.2 million from $125.3 million, and total operating expenses declined 5.9% year over year to $112.9 million from $120.1 million.

Reported net income totaled a loss of $3.2 million, or a loss of 10 cents per share, compared to income of $1.2 million, or 4 cents per share, in the year-earlier period.