- FormFactor (FORM -14.1%) shares plunge after the company reports in-line revenue but whiffs on EPS.
- Gross margin came in below management's expectations at 18.5% (24% non-GAAP) from 19.8% in Q3 2012 as a result of lower manufacturing utilization due to a "significant drop in demand," lower margins on 1 high-volume DRAM design, increased warranty/service expenses due to "execution challenges" at 1 customer, and increased excess inventory charges. (PR)
- Chairman Carl Everett has decided not to run for re-election, and will be replaced by CEO Tom Dennis. Also, Mike Slessor was appointed as president and board member.