Jan. 20, 2004 — Formfactor Inc., (Nasdaq: FORM, News, Web), a Livermore, Calif., manufacturer of wafer probe cards for semiconductor test applications, posted fourth-quarter earnings of $4.1 million, or 10 cents per share, up from $2.5 million for the third quarter. Formfactor reported $1.6 million income in the fourth quarter of 2002.

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Fourth-quarter revenues increased to $31.5 million from $26.1 million in the third quarter and $22.2 million in the year-earlier period.

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Igor Khandros, president and chief executive, said in a prepared statement that the DRAM industry’s transition toward 300mm wafers and 110 nanometer designs are generating an increase in demand for wafer test probe cards. He said the company experienced an increase in demand for probe cards for the low power DRAM used in mobile computers and, increasingly, in mobile phones.

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Jens Meyerhoff, chief financial officer, said in a conference call that the company anticipates $34 million to $35 million in first-quarter revenues. Meyerhoff also said the company is on track to finish building a new production facility in the first half of the year.

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Formfactor, whose wafer probe cards use micromachined microsprings, reported its earnings after the close of trading today. The company’s stock, which trades on the Nasdaq, closed down $1.09 at $20.48.