Ultra Clean reports Q3 non-GAAP EPS 4c, consensus 15c

Reports Q3 revenue $435.0M, consensus $429.97M. “As expected, UCT’s Products revenue increased quarter over quarter, however, a decline in our higher-margin Services business impacted the bottom line,” said Jim Scholhamer, CEO. “Reduced efficiencies on unexpected lower volume, together with a higher-than-average tax rate in the quarter resulted in earnings below our guided range. Despite short-term headwinds, we will continue to prudently navigate through the demand variability in the current environment.”