Date of report (Date of earliest event reported): October 21, 2013
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ULTRA CLEAN HOLDINGS, INC.
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(Exact Name of Registrant
as Specified in Charter)
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Delaware
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(State or Other Jurisdiction of Incorporation)
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000-50646
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61-1430858
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(Commission File Number)
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(IRS Employer Identification No.)
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26462 CORPORATE AVENUE,
HAYWARD, CA
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94545
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (510) 576-4400
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n/a
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(Former Name or Former Address, if Changed Since Last Report)
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o |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Exhibit
No.
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Exhibit Description
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99.1
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Press Release dated October 21, 2013
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ULTRA CLEAN HOLDINGS, INC.
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Date:
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October 21, 2013
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By:
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/s/ Kevin C. Eichler
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Name:
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Kevin C. Eichler
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Title:
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Chief Financial Officer
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Exhibit
No.
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Exhibit Description
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99.1
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Press Release dated October 21, 2013
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Press Release
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Source: Ultra Clean Holdings, Inc.
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Ultra Clean Reports Third Quarter Financial Results
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For the three months ended
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For the nine months ended
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September 27,
2013
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September 28,
2012
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September 27,
2013
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September 28,
2012
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Sales
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$ | 107,183 | $ | 100,849 | $ | 317,754 | $ | 313,363 | ||||||||
Cost of goods sold
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91,350 | 86,526 | 271,995 | 269,126 | ||||||||||||
Gross profit
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15,833 | 14,323 | 45,759 | 44,237 | ||||||||||||
Operating expenses:
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Research and development
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1,410 | 1,309 | 4,156 | 4,003 | ||||||||||||
Sales and marketing
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2,561 | 1,805 | 7,344 | 5,215 | ||||||||||||
General and administrative
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8,471 | 9,812 | 26,619 | 22,893 | ||||||||||||
Acquistions costs
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- | 2,063 | - | 2,063 | ||||||||||||
Total operating expenses
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12,442 | 14,989 | 38,119 | 34,174 | ||||||||||||
Income (loss) from operations
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3,391 | (666 | ) | 7,640 | 10,063 | |||||||||||
Interest and other income (expense), net
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(968 | ) | (813 | ) | (2,656 | ) | (932 | ) | ||||||||
Income (loss) before income taxes
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2,423 | (1,479 | ) | 4,984 | 9,131 | |||||||||||
Income tax provision (benefit)
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375 | (356 | ) | 931 | 2,804 | |||||||||||
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Net income (loss)
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$ | 2,048 | $ | (1,123 | ) | $ | 4,053 | $ | 6,327 | |||||||
Net income (loss) per share:
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Basic
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$ | 0.07 | $ | (0.04 | ) | $ | 0.14 | $ | 0.25 | |||||||
Diluted
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$ | 0.07 | $ | (0.04 | ) | $ | 0.14 | $ | 0.25 | |||||||
Shares used in computing net income (loss) per share:
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Basic
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28,451 | 27,656 | 28,265 | 24,851 | ||||||||||||
Diluted
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28,979 | 27,656 | 28,879 | 25,493 |
September 27,
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December 28,
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ASSETS
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2013
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2012
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Current assets:
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Cash and cash equivalents
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$ | 65,941 | $ | 54,311 | ||||
Accounts receivable
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49,728 | 50,074 | ||||||
Inventory
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50,293 | 53,965 | ||||||
Other current assets
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7,065 | 6,769 | ||||||
Total current assets
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173,027 | 165,119 | ||||||
Equipment and leasehold improvements, net
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8,756 | 9,282 | ||||||
Goodwill
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55,918 | 56,662 | ||||||
Purchased intangibles, net
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23,235 | 27,702 | ||||||
Other non-current assets
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6,417 | 7,164 | ||||||
Total assets
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$ | 267,353 | $ | 265,929 | ||||
LIABILITIES & STOCKHOLDERS' EQUITY
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Current liabilities:
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Bank borrowings
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$ | 36,706 | $ | 48,706 | ||||
Accounts payable
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37,770 | 23,485 | ||||||
Other current liabilities
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6,459 | 7,045 | ||||||
Total current liabilities
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80,935 | 79,236 | ||||||
Bank debt and other long-term liabilities
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23,002 | 29,913 | ||||||
Total liabilities
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103,937 | 109,149 | ||||||
Stockholders' equity:
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Common stock
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142,426 | 139,843 | ||||||
Retained Earnings
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20,990 | 16,937 | ||||||
Total stockholders' equity
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163,416 | 156,780 | ||||||
Total liabilities and stockholders' equity
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$ | 267,353 | $ | 265,929 |