Key Developments For FormFactor, Inc.
FormFactor, Inc. (FORM.O) (Nasdaq)
Micronics Japan Co., Ltd. Announces Final Decision from ITC for Lawsuit Filed by FormFactor, Inc.
Micronics Japan Co., Ltd. announced that it has received the final decision for a lawsuit filed by FormFactor, Inc., from International Trade Commission (ITC), United States, on November 12, 2009. According to the news on November 15, 2007, FormFactor, Inc. filed the lawsuit against Micronics Japan Co., Ltd. for Micronics Japan Co., Ltd.'s infringement of FormFactor, Inc.'s patent. Micronics Japan Co., Ltd. has been keeping its end up and fighting for its legality. According to the final decision, ITC decided that Micronics Japan Co., Ltd. has not violated the law and FormFactor, Inc.'s request has no legal basis.
FormFactor, Inc. Issues Q4 2009 Revenue Guidance Above Analysts' Estimates-Conference Call
FormFactor, Inc. announced that for fourth quarter of 2009, it expects revenue to be down approximately 10% from third quarter of 2009. The Company reported revenues of $52.58 million in third quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $39.98 million for the fourth quarter of 2009.
FormFactor, Inc. Acquires Technology Assets Of Electroglas, Inc.
FormFactor, Inc. announced that the Delaware Bankruptcy Court has approved FormFactor's acquisition of intellectual property rights and certain technology assets of Electroglas, Inc. related to precision motion control automation. The purchase provides FormFactor with IP and physical assets the Company will use in its manufacturing operations. The acquisition does not include physical assets and technology solely used in the Electroglas prober business, which are expected to be purchased by a third party as part of a separate auction process. The assets acquired by FormFactor were made available at auction as part of activities related to Electroglas' bankruptcy proceedings.
FormFactor, Inc. Comments On Q3 2009 Revenue Guidance-Conference Call
FormFactor, Inc. announced that it is not providing third quarter of 2009 revenue guidance, but internally, planning business to be up versus second quarter of 2009 by more than 20%. The Company reported revenues of $31.2 million in second quarter of 2009.
ITC Issues Initial Determination In FormFactor, Inc.'s Wafer Probecard ITC Action
FormFactor, Inc. announced the Administrative Law Judge (ALJ) assigned to the International Trade Commission's (Commission) investigation of probecard manufacturers Phicom Corporation and Micronics Japan Company, Ltd., Investigation No. 337-TA-621, issued an Initial Determination declining to find a violation of Section 337. The Initial Determination is directed to four FormFactor patents: U.S. Patent Nos. 5,994,152, entitled "Fabricating Interconnects and Tips Using Sacrificial Substrates," 6,509,751, entitled "Planarizer for a Semiconductor Contactor," 6,615,485, entitled "Probe Card Assembly and Kit, And Methods of Making Same," and 7,225,538, entitled "Resilient Contact Structures Formed and Then Attached to a Substrate." The Initial Determination found all of the asserted claims of U.S. Patent Nos. 6,509,751, 6,615,485 and 7,225,538 not invalid, and all but one of the asserted claims of U.S. Patent No. 5,994,152 not invalid, but declined to find infringement of any of the asserted claims. The ALJ released only 4 pages of the Initial Determination and a confidential version of the full Initial Determination is expected to be received in the next day or two. A complete public version of the Initial Determination is not yet available.
