FormFactor, Inc. (FORM) announced lower than expected preliminary revenue for the fourth quarter, ended December 26, 2009. The company now expects fourth quarter revenue to be in the range of $32 million to $33 million compared to its previous view of down 10% from its third quarter 2009 results, or $38 million -$39 million. The lower than expected fourth quarter revenue results are due primarily to a delay in the timing of customer technology transitions, tooling cycles and volume plans.
Analysts polled by Thomson Reuters expect the company to report revenues of $39.54 million. Analysts' estimates typically exclude special items.
The company continues to expect strong growth in 2010 fueled by design proliferation and volume ramps resulting in approximately 60% year over year revenue growth, plus or minus 10%.
The company currently expects revenues in the first quarter of 2010 to be in the range of $40 million plus or minus 10%.
Analysts expect the company to report revenues of $45.82 million.
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