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Kulicke & Soffa Reports First Quarter 2021 Results
SINGAPORE, Feb. 3, 2021 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S" or the "Company"), today announced
About this update from Kulicke And Soffa Industries, Inc.
[{"type":"text","content":"SINGAPORE, Feb. 3, 2021 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (\"Kulicke & Soffa,\" \"K&S\" or the \"Company\"), today announced financial results of its first fiscal quarter ended January 2, 2021. The Company reported first quarter net revenue of $267.9 million, net income of $48.4 million, representing EPS of $0.77 per fully diluted share, and non-GAAP net income of $53.7 million, representing non-GAAP EPS of $0.86 per fully diluted share.\n\n \n \n \n \n \n \n\n \nQuarterly Results - U.S. GAAP\nFiscal Q1 2021\nChange vs.Fiscal Q1 2020\nChange vs.Fiscal Q4 2020\nNet Revenue\n$267.9 million\nup 85.6%\nup 50.8%\nGross Profit\n$121.5 million\nup 72.6%\nup 36.7%\nGross Margin\n45.4%\ndown 340 bps\ndown 460 bps\nIncome from Operations\n$54.0 million\nup 303%\nup 134.8%\nOperating Margin\n20.2%\nup 1090 bps\nup 730 bps\nNet Income\n$48.4 million\nup 258.5%\nup 206.3%\nNet Margin\n18.1%\nup 870 bps\nup 920 bps\nEPS – Diluted(a)\n$0.77\nup 266.7%\nup 208%\n(a) \nGAAP diluted net earnings per share reflects any dilutive effect of outstanding restricted stock units and stock options, but that effect is excluded when calculating GAAP diluted net (loss) per share because it would be anti-dilutive. \nQuarterly Results - Non-GAAP\nFiscal Q1 2021\nChange vs.Fiscal Q1 2020\nChange vs.Fiscal Q4 2020\nIncome from Operations\n$59.8 million\nup 209.8%\nup 104.8%\nOperating Margin\n22.3%\nup 900 bps\nup 590 bps\nNet Income\n$53.7 million\nup 187.2%\nup 148.6%\nNet Margin\n20.0%\nup 700 bps\nup 790 bps\nEPS - Diluted\n$0.86\nup 196.6%\nup 145.7%\nA reconciliation between the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also the \"Use of non-GAAP Financial Results\" section.\nFusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, \"Demand has increased significantly in the December quarter driven by strength in the general semiconductor, LED and automotive markets. Additionally, we have supported more complex, high-volume semiconductor assembly, which is increasing the capital intensity and longer-term opportunities within our served markets.\"\nThroughout the first fiscal quarter, K&S continued to support ongoing demand for its initial advanced display system, PixaluxTM. Today, the Company announced it has acquired Uniqarta, Inc, accelerating d...