FormFactor (FORM) Hits New Record High as Firm Beats Revenue Guidance

We recently published 10 Stocks with Outstanding Gains; 9 on Record Highs. FormFactor Inc. (NASDAQ:FORM) is one of the best-performing stocks on Thursday.

FormFactor saw its share prices hit a new all-time high on Thursday, after beating its revenue guidance for the third quarter of the year.

At intra-day trade, the stock jumped to its highest price of $61.10 before trimming gains to end the day just up by 24.16 percent at $59.25 apiece.

In an updated report, FormFactor Inc. (NASDAQ:FORM) said revenues stood at $202.68 million, beating its $200 million outlook guidance, albeit the figure was 2.5 percent lower than the $207.9 million in the same period last year.

Net income also dropped by 16 percent to $15.66 million from $18.74 million year-on-year.

Looking ahead, FormFactor Inc. (NASDAQ:FORM) is targeting between $205 million and $215 million revenues for the fourth quarter of the year.

“Our outlook for the current fourth quarter builds on the third quarter, as our initiatives of profitability improvement actions continue, and we expect to again deliver sequentially higher revenue, earnings, and most importantly, gross margin,” said FormFactor Inc. (NASDAQ:FORM) CEO Mike Slessor.

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Disclosure: None. This article is originally published at Insider Monkey.