Date of report (Date of earliest event reported): April 20, 2015
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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 April 20, 2015
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ULTRA CLEAN HOLDINGS, INC.
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Date:
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April 20, 2015
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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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President and 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 April 20, 2015
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Press Release
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Source: Ultra Clean Holdings, Inc.
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Ultra Clean Reports First Quarter 2015 Financial Results
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Three months ended
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March 27,
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March 28,
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2015
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2014
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Sales
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$ | 125,318 | $ | 144,224 | ||||
Cost of goods sold
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105,399 | 120,913 | ||||||
Gross profit
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19,919 | 23,311 | ||||||
Operating expenses:
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Research and development
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2,566 | 1,767 | ||||||
Sales and marketing
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2,845 | 2,661 | ||||||
General and administrative
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11,860 | 9,722 | ||||||
Total operating expenses
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17,271 | 14,150 | ||||||
Income from operations
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2,648 | 9,161 | ||||||
Interest and other income (expense), net
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(956 | ) | (629 | ) | ||||
Income before provision for income taxes
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1,692 | 8,532 | ||||||
Income tax provision
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519 | 1,476 | ||||||
Net income
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$ | 1,173 | $ | 7,056 | ||||
Net income per share:
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Basic
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$ | 0.04 | $ | 0.24 | ||||
Diluted
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$ | 0.04 | $ | 0.24 | ||||
Shares used in computing net income per share:
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Basic
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30,485 | 28,877 | ||||||
Diluted
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30,964 | 29,918 |
March 27,
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December 26,
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2015
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2014
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ASSETS
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Current assets:
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Cash and cash equivalents
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$ | 69,607 | $ | 78,997 | ||||
Accounts receivable, net of allowance
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69,625 | 61,817 | ||||||
Inventory
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59,912 | 56,850 | ||||||
Other current assets
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11,871 | 10,783 | ||||||
Total current assets
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211,015 | 208,447 | ||||||
Equipment and leasehold improvements, net
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14,476 | 10,841 | ||||||
Goodwill
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74,298 | 55,918 | ||||||
Purchased intangibles, net
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39,057 | 16,824 | ||||||
Other non-current assets
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3,867 | 4,112 | ||||||
Total assets
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$ | 342,713 | $ | 296,142 | ||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities:
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Bank borrowings
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$ | 4,847 | $ | 9,541 | ||||
Accounts payable
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50,128 | 48,944 | ||||||
Other current liabilities
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8,490 | 7,683 | ||||||
Total current liabilities
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63,465 | 66,168 | ||||||
Bank debt and other long-term liabilities
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73,657 | 41,422 | ||||||
Total liabilities
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137,122 | 107,590 | ||||||
Stockholders’ equity:
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Common stock
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165,700 | 149,834 | ||||||
Retained earnings
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39,891 | 38,718 | ||||||
Total stockholders’ equity
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205,591 | 188,552 | ||||||
Total liabilities and stockholders’ equity
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$ | 342,713 | $ | 296,142 |