Ultra Clean: 3Q Earnings Snapshot

October 30, 2019 GMT

HAYWARD, Calif. (AP) _ Ultra Clean Holdings Inc. (UCTT) on Wednesday reported third-quarter net income of $513,000, after reporting a loss in the same period a year earlier.

The Hayward, California-based company said it had profit of 1 cent per share. Earnings, adjusted for non-recurring costs, were 21 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The chipmaking equipment services company posted revenue of $254.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $245.8 million.

For the current quarter ending in December, Ultra Clean expects its per-share earnings to range from 20 cents to 30 cents.

The company said it expects revenue in the range of $260 million to $280 million for the fiscal fourth quarter.

Ultra Clean shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.10, a rise of 78% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UCTT at https://www.zacks.com/ap/UCTT