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Ichor Holdings , Ltd. Announces First Quarter 2021 Financial Results Exhibit 99.1 FREMONT , Calif . , May 4 , 2021 - Ichor Holdings , Ltd. ( NASDAQ : ICHR ) , a leader in the design , engineering , and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment , today announced first quarter 2021 financial results . Highlights for the first quarter of 2021 : • Revenues of $ 265 million , up 20 % year - over - year and our eighth consecutive quarter of revenue growth ; • Gross margin of 14.9 % on a GAAP basis and 16.1 % on a non - GAAP basis ; Net earnings of $ 0.51 per diluted share on a GAAP basis and $ 0.76 on a non - GAAP basis ; and Cash flow from operations of $ 26 million and free cash flow of $ 20 million . " We are very pleased to report today a record quarter for Ichor , with revenues at the high end of our expectations and increasing 8 % over a very strong fourth quarter , ” commented Jeff Andreson , chief executive officer of Ichor . “ Industry conditions for wafer fab equipment have continued to strengthen for four straight quarters now , and , in turn , we have demonstrated strong execution in a challenging operating environment in order to ramp our business in response to customer demand . In Q1 , we again exhibited the operating leverage in our business model , with quarter - on - quarter increases in both gross margin and operating margin , while also delivering another quarter of strong free cash flow generation . ” Mr. Andreson concluded , “ Our current visibility through the end of 2021 indicates a stronger Q2 compared to Q1 , a stronger second half compared to the first half , and continued incremental improvements to our profitability . With industry growth currently expected to continue through both this year and next year , we believe Ichor is extremely well - positioned to continue to deliver strong revenue growth and operational leverage . " Q1 2021 Q4 2020 Q1 2020 ( dollars in thousands , except per share amounts ) U.S. GAAP Financial Results : Net sales $ Gross margin 264,566 14.9 % $ 244,966 $ 220,028 14.0 % 13.1 % Operating margin 6.9 % 5.8 % 2.5 % Net income $ 14,638 $ 12,521 $ 3,399 Diluted EPS $ 0.51 $ 0.51 $ 0.15 Non - GAAP Financial Results : Gross margin Operating margin Net income Diluted EPS Q1 2021 Q4 2020 Q1 2020 ( dollars in thousands , except per share amounts ) 16.1 % 15.8 % 10.2 % 10.0 % 13.8 % 7.2 % $ 21,725 0.76 $ 19,834 $ 12,058 0.81 $ 0.52 Page 1 of 11