FORM - Why FormFactor Stock Crashed and Burned Thursday Morning
Shares of FormFactor (NASDAQ: FORM) flamed out on Thursday morning, falling by as much as 24.4%. As of 11:55 a.m. ET, the stock was still down by 19%.
Blame its third-quarter report for the plunge: The provider of semiconductor testing and measurement tools delivered disappointing financial results after the bell Wednesday, and warned that further pain is in store.
For the third quarter, FormFactor reported revenue of $180.9 million, down 4.8% year over year and down 11.3% sequentially. The pain traveled down the income statement as adjusted earnings per share tumbled 40% to $0.24.
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Why FormFactor Stock Crashed and Burned Thursday Morning