What changed in this filing

/stocks — the workspaceLOADING

Item 1A. Risk Factors

2020-11-03 compared with 2020-08-04 · 22 added, 19 removed, 74 unchanged (36% of the section changed)

There have been no material changes during the six months ended June 27, 2020 to the risk factors discussed in our Annual Report on Form 10-K for the year ended December 28, 2019 apart from the risk factor described below.

There have been no material changes during the nine months ended September 26, 2020 to the risk factors discussed in our Annual Report on Form 10-K for the year ended December 28, 2019 apart from the risk factor described below.

If any of the identified risks actually occur, our business, financial condition and results of operations could suffer.

3 unchanged sentences

The COVID-19 pandemic has impacted, and is expected to continue to negatively impact, our operations, and those of our important suppliers, business partners and customers.

We are exposed to risks associated with public health crises and outbreaks of contagious diseases, such as the current outbreak of a novel strain of coronavirus ("COVID-19").

We are exposed to risks associated with public health crises and outbreaks of contagious diseases, such as COVID-19.

To date, COVID-19 has had, and may continue to have, an adverse impact on our operations, our supply chains and our expenses, including as a result of precautionary measures that we take in response to COVID-19.

As a result of the COVID-19 pandemic, we have experienced significant business disruptions, including temporary closures of our facilities, and the facilities of our suppliers and their supply chain partners, and restrictions on our ability to travel and service our products.

For example, our corporate headquarters and many of our operations, including much of our manufacturing facilities, are located in California, which instituted health orders applicable to our operations and employees in the region.

For example, our corporate headquarters and many of our operations, including much of our manufacturing facilities, are located in California, where a variety of health orders apply to our operations and employees in the region.

In other regions where we operate globally, similar health orders have been issued, which have had, and will continue to have, similar affects upon our business.

This has the potential to significantly impact our ability to design, produce, deliver and support our products for customers.

These unprecedented measures to slow the spread of COVID-19 taken by local and regional governments have had, and will continue to have, a significant negative impact on our operations.

We obtain some of the components and materials used in our products from a sole source or a limited group of suppliers, and in some cases alternative sources are not readily available.

The COVID-19 pandemic may heighten the risks posed by our

dependence upon sole or limited source suppliers to the extent that the pandemic could disrupt the operations of one or more of these suppliers, resulting in an inability to obtain an adequate supply of materials, late deliveries or poor component quality while we seek to identify and qualify alternative suppliers.

Such disruptions could disrupt our operations and result an adverse impact to our results of operations, cash flows and financial position.

A significant amount of our management resources has been, and will continue to be, focused on mitigating the negative impacts of COVID-19 on our business.

This has required, and will continue to require, a substantial investment of time and resources across our enterprise that has delayed, or may continue to delay other valuable activities, such as the development of new technologies, products or capabilities.

This has required, and will continue to require, a substantial investment of time and resources across our enterprise which may continue to negatively impact other valuable activities, such as the development of new technologies, products or capabilities.

In addition, many of our employees are working remotely for an extended period which can increase operational risk and cybersecurity risks.

If we do not respond appropriately to the COVID-19 pandemic, or if customers do not perceive our response positively, we could suffer damage to our reputation, which could adversely affect our business.

If we do not respond appropriately to the COVID-19 pandemic, or if employees, customers or others do not perceive our response positively, we could suffer damage to our reputation, which could also adversely affect our business.

The extent to which the COVID-19 pandemic impacts our operations and those of our important, suppliers, business partners and customers will depend on numerous evolving factors and future developments that we are not able to predict, including but not limited to:

the severity of the virus;

the duration of the outbreak;

the severity and duration of the pandemic;

governmental, business and other actions (which could include further restrictions on our operations);

the ongoing requirements of social distancing and shelter-in-place orders;

the ongoing requirements of social distancing and health orders;

the impacts on our supply chain;

2 unchanged sentences

the effects of changes to our operations that may continue indefinitely;

the health of and the effect on our workforce and our ability to meet our staffing needs, particularly if members of our workforce are exposed or infected;

the effects on our workforce and our ability to meet our staffing needs, particularly if members of our workforce are exposed or infected;

any impairments in the value of our assets which could be recorded as a result of weaker economic conditions;

2 unchanged sentences

In addition, the circumstances which give rise to new or existing infectious diseases becoming epidemics or pandemics with potentially similar impacts are expected to persist.

Further, we obtain some of the components and materials used in our products from a sole source or a limited group of suppliers, and in some cases alternative sources are not readily available.

The COVID-19 pandemic may heighten the risks posed by our dependence upon sole or limited source suppliers to the extent that the pandemic could disrupt the operations of one or more of these suppliers, resulting in an inability to obtain an adequate supply of materials, late deliveries or poor component quality while we seek to identify and qualify alternative suppliers.

Such disruptions could disrupt our operations and result an adverse impact to our results of operations, cash flows and financial position.

Adverse global, regional and national economic conditions resulting from the COVID-19 pandemic could have a negative effect on our business, results of operations and financial condition and liquidity

8 unchanged sentences

Any discontinuations, reductions, or other changes to such stabilization and stimulus programs may harm our customers’ or suppliers’ financial results and financial condition, and could also have an adverse macroeconomic impact that may lead to reductions in the demand for our products.

Even if left unchanged or expanded, such stimulus and stabilization measures may fail over the long term to mitigate the adverse economic effects of the pandemic, and may fail to prevent or exacerbate any long-term economic downturns.

Even if maintained or expanded, such stimulus and stabilization measures may fail over the long term to mitigate the adverse economic effects of the pandemic, and may fail to prevent or exacerbate any long-term economic downturns.

As a result of the uncertain scope and duration of the COVID-19 pandemic and the uncertain timing of any national, regional or global recovery and economic normalization, we are unable to estimate the long-term impacts on our operations and financial results.

4 unchanged sentences

For example, the U.S.

Department of Commerce, Bureau of Industry and Security, has recently amended the U.S.

Department of Commerce, Bureau of Industry and Security, has

recently amended the U.S.

Export Administration Regulations to expand license requirements on exports to entities in China that may support military end uses.

2 unchanged sentences

There also remains considerable uncertainty regarding the interpretation and implementation of these rules.

These and other regulatory changes could materially and negatively affect our future sales and operating results.

In addition, the reaction to these rules by governments and private businesses outside the U.S., particularly in China, may be expected to include retaliatory controls and preferences for non-U.S.

or local suppliers.

These and other regulatory and policy changes in the U.S.

and elsewhere could materially and negatively affect our future sales and operating results.

We rely on the security and integrity of our electronic data systems and our business can be damaged by disruptions, security breaches or other compromises of these systems.

17 unchanged sentences

Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101 The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 27, 2020, formatted in Inline XBRL:

101 The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 26, 2020, formatted in Inline XBRL:

(i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Income, (iii) Condensed Consolidated Statements of Comprehensive Income, (iv) Condensed Consolidated Statements of Stockholders’ Equity, (v) Condensed Consolidated Statements of Cash Flows, and (vi) Notes to Condensed Consolidated Financial Statements, tagged as blocks of text and including detailed tags

5 unchanged sentences

101.PRE XBRL Taxonomy Extension Presentation Linkbase Document X

104 The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 27, 2020, formatted in Inline XBRL (included as Exhibit 101) X

104 The cover page from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 26, 2020, formatted in Inline XBRL (included as Exhibit 101) X

______________________________________

2 unchanged sentences

FormFactor, Inc.

August 4, 2020 By:

November 3, 2020 By:

/s/ SHAI SHAHAR

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1A. Risk Factors