Ichor (ICHR) Reports In-Line Q2 EPS and Revenues; Affirms 3Q EPS / Revenue Guidance

Ichor (NASDAQ: ICHR) reported Q2 EPS of $0.60, in-line with the analyst estimate of $0.60. Revenue for the quarter came in at $159.7 million versus the consensus estimate of $159.76 million.

• For the second quarter of 2017, revenue was $159.7 million, net income from continuing operations was $10.5 million, and diluted EPS was $0.40. This compares to revenue of $148.7 million and $95.4 million, net income from continuing operations of $13.0 million and $3.3 million, and diluted EPS of $0.51 and $0.06, for the first quarter of 2017 and second quarter of 2016, respectively.
• Non-GAAP Financial Results Overview
• For the second quarter of 2017, non-GAAP adjusted net income from continuing operations was $15.5 million and non-GAAP adjusted diluted EPS was $0.60. This compares to non-GAAP adjusted net income from continuing operations of $14.6 million and $7.0 million, and non-GAAP adjusted diluted EPS of $0.57 and $0.29, for the first quarter of 2017 and second quarter of 2016, respectively.

Third Quarter 2017 Financial Outlook

• For the third quarter of 2017, Ichor expects revenue and non-GAAP adjusted diluted EPS to be in the range of $160-$170 million and $0.59-$0.65, respectively, which is inclusive of the Cal-Weld acquisition. We expect third quarter revenueand non-GAAP adjusted diluted EPS related to the Cal-Weld acquisition to be $15-$20 million and $0.07-$0.10, respectively, in the last two months of the third quarter, during which Ichor will own Cal-Weld.
• This outlook for non-GAAP adjusted diluted EPS excludes known charges related to amortization of intangible assets and share-based compensation expense, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.

GUIDANCE:

Ichor sees Q3 2017 EPS of $0.59-$0.65, versus the consensus of $0.62. Ichor sees Q3 2017 revenue of $160-170 million, versus the consensus of $165 million.

For earnings history and earnings-related data on Ichor (ICHR) click here.

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