Ultra Clean Holdings Files 10-Q for Q3 2024
Ticker: UCTT · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 1275014
| Field | Detail |
|---|---|
| Company | Ultra Clean Holdings, Inc. (UCTT) |
| Form Type | 10-Q |
| Filed Date | Oct 30, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, semiconductors, financials
TL;DR
Ultra Clean Holdings filed its Q3 2024 10-Q. Financials are in.
AI Summary
Ultra Clean Holdings, Inc. filed a 10-Q for the period ending September 27, 2024. The filing details financial performance and operational updates for the company, which operates in the semiconductors and related devices industry. Specific financial figures and segment performance are provided within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Ultra Clean Holdings, a key player in the semiconductor supply chain.
Risk Assessment
Risk Level: medium — The semiconductor industry is cyclical and subject to rapid technological changes, which can impact Ultra Clean Holdings' performance.
Key Players & Entities
- Ultra Clean Holdings, Inc. (company) — Filer of the 10-Q
- 2024-09-27 (date) — End of the reporting period
- 20241030 (date) — Filing date
- 3674 (industry_code) — Standard Industrial Classification for Semiconductors & Related Devices
FAQ
What was the total revenue for the quarter ending September 27, 2024?
The filing does not explicitly state the total revenue for the quarter ending September 27, 2024, but provides segment data which would contribute to the total.
What is the company's primary industry classification?
The company's Standard Industrial Classification is Semiconductors & Related Devices [3674].
When was the previous fiscal year end reported?
The previous fiscal year end reported was December 30, 2023.
What is the state of incorporation for Ultra Clean Holdings, Inc.?
The state of incorporation is Delaware (DE).
What is the business address of Ultra Clean Holdings, Inc.?
The business address is 26462 Corporate Avenue, Hayward, CA 94545.
Filing Stats: 4,757 words · 19 min read · ~16 pages · Grade level 7.4 · Accepted 2024-10-29 18:04:34
Key Financial Figures
- $0.001 — ich registered Common stock, par value $0.001 per share UCTT The Nasdaq Stock Market,
Filing Documents
- uctt-20240927.htm (10-Q) — 1260KB
- uctt-20240927xexx311.htm (EX-31.1) — 9KB
- uctt-20240927xexx312.htm (EX-31.2) — 9KB
- uctt-20240927xexx321.htm (EX-32.1) — 6KB
- uctt-20240927_g1.jpg (GRAPHIC) — 200KB
- 0001628280-24-044152.txt ( ) — 7157KB
- uctt-20240927.xsd (EX-101.SCH) — 42KB
- uctt-20240927_cal.xml (EX-101.CAL) — 83KB
- uctt-20240927_def.xml (EX-101.DEF) — 234KB
- uctt-20240927_lab.xml (EX-101.LAB) — 554KB
- uctt-20240927_pre.xml (EX-101.PRE) — 392KB
- uctt-20240927_htm.xml (XML) — 911KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
Unaudited Condensed Consolidated Financial Statements
Item 1. Unaudited Condensed Consolidated Financial Statements 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Stockholders' Equity 7 Index to Notes to Condensed Consolidated Financial Statements 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 31
—OTHER INFORMATION
PART II—OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 34
Risk Factors
Item 1A. Risk Factors 34
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 34
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 34
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 35
SIGNATURES
SIGNATURES 36 - 2 - Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
ITEM 1. Financial Statements ULTRA CLEAN HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 27, 2024 December 29, 2023 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 318.2 $ 307.0 Accounts receivable, net of allowance for credit losses of $ 2.1 and $ 1.0 at September 27, 2024 and December 29, 2023, respectively 228.1 180.8 Inventories 402.6 374.5 Prepaid expenses and other current assets 36.9 30.9 Total current assets 985.8 893.2 Property, plant and equipment, net 327.7 328.3 Goodwill 265.3 265.2 Intangible assets, net 192.4 215.3 Deferred tax assets, net 3.6 3.1 Operating lease right-of-use assets 162.2 151.7 Other non-current assets 10.5 10.9 Total assets $ 1,947.5 $ 1,867.7 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Bank borrowings $ 16.4 $ 17.6 Accounts payable 233.2 192.9 Accrued compensation and related benefits 47.9 47.7 Operating lease liabilities 19.0 18.1 Other current liabilities 42.3 33.7 Total current liabilities 358.8 310.0 Bank borrowings, net of current portion 475.8 461.2 Deferred tax liabilities 18.9 19.0 Operating lease liabilities 155.6 143.0 Other liabilities 16.0 37.3 Total liabilities 1,025.1 970.5 Commitments and contingencies (See Note 9) Equity: UCT stockholders' equity: Preferred stock — $ 0.001 par value, 10.0 shares authorized; none outstanding — — Common stock — $ 0.001 par value, 90.0 shares authorized; 46.6 and 46.1 shares issued and 45.1 and 44.6 shares outstanding at September 27, 2024 and December 29, 2023, respectively 0.1 0.1 Additional paid-in capital 552.6 541.5 Common shares held in treasury, at cost, 1.5 and 1.5 shares at September 27, 2024 and December 29, 2023, respectively ( 45.0 ) ( 45.0 ) Retained earnings 354.1 346.7 Accumulated other comprehensive loss ( 3.9 ) ( 4.4 ) Total UCT stockholders' equity 857.9 838.9 Noncontrolling interests 64.5 58.3 Total equity 922.4 897.2 Total liabilities and equ