Ichor Holdings Provides Fiscal First Quarter Business Update
FREMONT, Calif.--(BUSINESS WIRE)-- Ichor Holdings, Ltd. (NASDAQ: ICHR), a leader in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment, today provided a business update for its fiscal first quarter ending March 27, 2020.
On March 16, 2020, six Bay Area counties in California issued a “shelter-in-place” order, which requires us to temporarily cease our Bay Area operations effective today until April 7, 2020. Additionally on March 16, 2020, the Malaysian government issued a similar order to close certain business activities from March 18, 2020 through March 31, 2020. These two actions have required us to temporarily close our manufacturing sites in Fremont, Ca., Union City Ca., and Malaysia, which will impact our gas panel, weldments, and plastics operations. The financial guidance for the first quarter of 2020, which was provided on February 5, 2020, reflected the best information available to us at that time. Given the impacts to our manufacturing operations and uncertainties that will result from these government-mandated orders, we are withdrawing our prior financial guidance for the first fiscal quarter of 2020.
We are closely monitoring the impact of the COVID‑19 virus, which continues to evolve day by day, and our first priority remains the safety and health of our employees and the partners that serve the company. We will provide more information during our next earnings call.
