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Ultra Clean beats Street 4Q forecasts

HAYWARD, Calif. (AP) _ Ultra Clean Holdings Inc. (UCTT) on Wednesday reported fourth-quarter net income of $10 million, after reporting a loss in the same period a year earlier.

The Hayward, California-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs, came to 36 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The chipmaking equipment services company posted revenue of $174.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $173.1 million.

For the year, the company reported net income of $10.1 million, or 30 cents per share, swinging to a profit in the period. Revenue was reported as $562.8 million.

For the current quarter ending in April, Ultra Clean expects its per-share earnings to range from 40 cents to 45 cents.

The company said it expects revenue in the range of $190 million to $197 million for the fiscal first quarter.

Ultra Clean shares have risen 30 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.58, more than doubling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UCTT at https://www.zacks.com/ap/UCTT

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Keywords: Ultra Clean Holdings, Earnings Report