Ultra Clean ( (UCTT) ) has released its Q4 earnings. Here is a breakdown of the information Ultra Clean presented to its investors.
Ultra Clean Holdings, Inc. is a prominent developer and supplier of critical subsystems, components, and ultra-high purity cleaning services primarily for the semiconductor industry, offering integrated outsourced solutions and analytical services. The company recently reported its financial results for the fourth quarter and full year of 2024, highlighting a significant revenue growth of 21% over the previous year, surpassing the overall market performance in the semiconductor sector. This growth is attributed to Ultra Clean’s strategic investments and its ability to support advancements in semiconductor innovation, particularly in artificial intelligence.
In the fourth quarter of 2024, Ultra Clean Holdings achieved a total revenue of $563.3 million, with products contributing $503.5 million and services adding $59.8 million. The company reported a GAAP net income of $16.3 million or $0.36 per diluted share, a notable improvement from the previous quarter’s net loss. On a non-GAAP basis, the net income was $22.9 million or $0.51 per diluted share. For the full year, the company reported a total revenue of $2,097.6 million, with a GAAP net income of $23.7 million, reflecting a positive turnaround from the previous year’s net loss.
The company’s financial performance was bolstered by strategic investments that expanded its global manufacturing capacity, enabling support for a $4 billion revenue run rate. Ultra Clean’s gross margin for the year was 17.0%, with an operating margin of 4.3% under GAAP, while non-GAAP metrics showed a gross margin of 17.5% and an operating margin of 6.9%. These results underscore the company’s effective cost management and operational efficiency.
Looking ahead, Ultra Clean Holdings anticipates first-quarter 2025 revenue to range between $505 million and $555 million, with expectations of GAAP diluted net income per share between $(0.11) and $0.09. The company remains optimistic about its long-term growth prospects, driven by its strategic positioning in the semiconductor market and ongoing investments in innovation and capacity expansion.