The Fly

Ichor Holdings reports Q3 adjusted EPS $1.22, consensus 99c

Reports Q3 revenue $355.64M, consensus $340M. "Ichor’s record revenues for the third quarter were at the high end of our expectations due to both the continued elevated level of customer demand as well as strong operational execution by our team," commented Jeff Andreson, chief executive officer. "We exceeded the high end of our earnings expectations primarily due to solid gross margin performance, which also drove record operating income in the quarter. Since last quarter, the business environment for wafer fabrication environment has weakened, most recently as a result of the recent export restrictions to China, as well as a pull-back in overall memory investments. Fortunately, over the last few years we have significantly reduced our exposure to the memory market, and, in this environment, we expect to demonstrate the resiliency of our business model and our ability to continue to outperform WFE. Ichor continues to play a crucial role in the global semiconductor manufacturing ecosystem, and we look forward to continuing our focus on developing proprietary new products and winning evaluation programs with both new and existing customers in the coming year."

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