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FORMFACTOR, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) | |||||||
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September 29,
2018 |
December 30,
2017 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 91,990 | $ | 91,184 | |||
| Marketable securities | 50,109 | 48,988 | |||||
| Accounts receivable, net of allowance for doubtful accounts of $200 and $200 | 88,869 | 81,515 | |||||
| Inventories, net | 81,538 | 67,848 | |||||
| Restricted cash | 129 | 372 | |||||
| Refundable income taxes | 1,320 | 2,242 | |||||
| Prepaid expenses and other current assets | 15,716 | 13,705 | |||||
| Total current assets | 329,671 | 305,854 | |||||
| Restricted cash | 1,034 | 1,170 | |||||
| Property, plant and equipment, net of accumulated depreciation of $260,607 and $255,755 | 52,857 | 46,754 | |||||
| Goodwill | 189,427 | 189,920 | |||||
| Intangibles, net | 75,278 | 97,484 | |||||
| Deferred tax assets | 3,042 | 3,133 | |||||
| Other assets | 1,163 | 2,259 | |||||
| Total assets | $ | 652,472 | $ | 646,574 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 49,668 | $ | 35,046 | |||
| Accrued liabilities | 24,877 | 33,694 | |||||
| Current portion of term loan, net of unamortized issuance cost of $189 and $307 | 26,061 | 18,443 | |||||
| Deferred revenue | 4,795 | 4,978 | |||||
| Total current liabilities | 105,401 | 92,161 | |||||
| Term loan, less current portion, net of unamortized issuance cost of $57 and $272 | 46,193 | 87,228 | |||||
| Deferred tax liabilities | 3,290 | 3,379 | |||||
| Deferred rent and other liabilities | 7,537 | 5,169 | |||||
| Total liabilities | 162,421 | 187,937 | |||||
| Stockholders’ equity: | |||||||
| Common stock and capital in excess of par value | 857,580 | 843,189 | |||||
| Accumulated other comprehensive income | 1,158 | 3,021 | |||||
| Accumulated deficit | (368,687 | ) | (387,573 | ) | |||
| Total stockholders’ equity | 490,051 | 458,637 | |||||
| Total liabilities and stockholders’ equity | $ | 652,472 | $ | 646,574 | |||
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FormFactor, Inc. Reports 2018 Third Quarter Results
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