SOURCE: FormFactor

FormFactor

March 14, 2011 09:00 ET

FormFactor Updates Business Status After Japan Earthquake and Tsunami

LIVERMORE, CA--(Marketwire - March 14, 2011) - FormFactor, Inc. (NASDAQ: FORM) today announced that it has completed a status review of its employees, its Japan operations, and its suppliers following the earthquake and tsunami in Japan.

FormFactor's manufacturing and repair facility in Yokohama, Japan and its repair operations in Hiroshima, Japan are not damaged and are ready to resume operations consistent with the power usage guidelines of the Japanese power industry. Based on the company's current assessment, FormFactor's key Japan-based suppliers have not experienced any significant damage to their facilities and are resuming operations consistent with the power usage guidelines in their respective areas. FormFactor is working closely with customers to coordinate deliveries to their factories. The company believes its Livermore manufacturing facility has the capacity to offset any potential manufacturing constraints that may be realized by its Japan operations. FormFactor will provide updates to its Japan operations as necessary. As a result of the company's current assessment of the effects of the Japan earthquake and tsunami, the company does not believe the Q1 guidance it communicated on February 1 and reaffirmed on March 8 is impacted.

About FormFactor:
Founded in 1993, FormFactor, Inc. (NASDAQ: FORM) is a leader in advanced wafer probe cards, which are used by semiconductor manufacturers to electrically test integrated circuits, or ICs. The company's wafer sort, burn-in and device performance testing products move IC testing upstream from post-packaging to the wafer level, enabling semiconductor manufacturers to lower their overall production costs, improve yields, and bring next-generation devices to market. FormFactor is headquartered in Livermore, California with operations in Europe, Asia and North America. For more information, visit the company's website at www.formfactor.com.

FormFactor and the FormFactor logo are registered trademarks of FormFactor, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners.

FORWARD-LOOKING STATEMENTS:
Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the federal securities laws, including statements regarding anticipated results, market conditions, expectations and operating plans. These forward-looking statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to: the impact the recent earthquake and tsunami will have on the company's Japan-based suppliers and, in turn, the company's ability to timely manufacture and deliver product; the company's ability to continue uninterrupted manufacturing and repair operations out of its Japan facilities; whether the company's Livermore manufacturing facility has the capacity to offset any potential manufacturing constraints that may develop in Japan; power usage constrains that may be imposed by Japan authorities upon the operations of the company, its suppliers and its customers; and the company's ability to design, manufacture and deliver products on a timely basis to meet its provided guidance, including projected revenue, gross margin, operating expenses and cash burn guidance. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in the company's Form 10-K for the fiscal year ended December 25, 2010, as filed with the SEC, and subsequent SEC filings. Copies of the company's SEC filings are available at http://investors.formfactor.com/edgar.cfm. The company assumes no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.
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