Date of report (Date of earliest event reported): February 18, 2014
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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
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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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
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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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 February 18, 2014
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ULTRA CLEAN HOLDINGS, INC.
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Date:
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February 18, 2014
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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 February 18, 2014
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Press Release
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Source: Ultra Clean Holdings, Inc. |
Ultra Clean Reports Fourth Quarter and Fiscal Year 2013 Financial Results
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For the three months ended
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For the twelve months ended
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December 27, 2013
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December 28, 2012
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December 27, 2013
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December 28, 2012
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Sales
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$ | 126,268 | $ | 90,067 | $ | 444,022 | $ | 403,430 | ||||||||
Cost of goods sold
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104,698 | 78,516 | 376,693 | 347,642 | ||||||||||||
Gross profit
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21,570 | 11,551 | 67,329 | 55,788 | ||||||||||||
Operating expenses:
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Research and development
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1,387 | 1,118 | 5,543 | 5,121 | ||||||||||||
Sales and marketing
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2,487 | 1,818 | 9,831 | 7,033 | ||||||||||||
General and administrative
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9,428 | 9,965 | 36,047 | 32,858 | ||||||||||||
Acquistions costs
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- | 368 | - | 2,431 | ||||||||||||
Total operating expenses
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13,302 | 13,269 | 51,421 | 47,443 | ||||||||||||
Income (loss) from operations
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8,268 | (1,718 | ) | 15,908 | 8,345 | |||||||||||
Interest and other income (expense), net
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(653 | ) | (716 | ) | (3,309 | ) | (1,648 | ) | ||||||||
Income (loss) before income taxes
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7,615 | (2,434 | ) | 12,599 | 6,697 | |||||||||||
Income tax provision (benefit)
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1,244 | (1,260 | ) | 2,175 | 1,544 | |||||||||||
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Net income (loss)
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$ | 6,371 | $ | (1,174 | ) | $ | 10,424 | $ | 5,153 | |||||||
Net income (loss) per share:
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Basic
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$ | 0.22 | $ | (0.04 | ) | $ | 0.37 | $ | 0.20 | |||||||
Diluted
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$ | 0.22 | $ | (0.04 | ) | $ | 0.36 | $ | 0.20 | |||||||
Shares used in computing net income (loss) per share:
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Basic
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28,582 | 27,854 | 28,346 | 25,698 | ||||||||||||
Diluted
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29,480 | 27,854 | 29,037 | 26,261 |
December 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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$ | 60,415 | $ | 54,311 | ||||
Accounts receivable
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67,450 | 50,074 | ||||||
Inventory
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63,942 | 53,965 | ||||||
Other current assets
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8,652 | 6,769 | ||||||
Total current assets
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200,459 | 165,119 | ||||||
Equipment and leasehold improvements, net
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8,534 | 9,282 | ||||||
Goodwill
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55,918 | 56,662 | ||||||
Purchased intangibles, net
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21,708 | 27,702 | ||||||
Other non-current assets
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5,924 | 7,164 | ||||||
Total assets
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$ | 292,543 | $ | 265,929 | ||||
LIABILITIES & STOCKHOLDERS' EQUITY
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Current liabilities:
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Bank borrowings
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$ | 37,705 | $ | 48,706 | ||||
Accounts payable
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53,962 | 23,485 | ||||||
Other current liabilities
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8,377 | 7,045 | ||||||
Total current liabilities
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100,044 | 79,236 | ||||||
Bank debt and other long-term liabilities
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20,570 | 29,913 | ||||||
Total liabilities
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120,614 | 109,149 | ||||||
Stockholders' equity:
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Common stock
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144,568 | 139,843 | ||||||
Retained Earnings
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27,361 | 16,937 | ||||||
Total stockholders' equity
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171,929 | 156,780 | ||||||
Total liabilities and stockholders' equity
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$ | 292,543 | $ | 265,929 |