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Kulicke & Soffa Reports Fourth Quarter 2021 Results
SINGAPORE, Nov. 17, 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, Nov. 17, 2021 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (\"Kulicke & Soffa\", \"K&S\" or the \"Company\"), today announced financial results of its fourth fiscal quarter ended October 2, 2021. The Company reported fourth quarter net revenue of $485.3 million, net income of $133.7 million and non-GAAP net income of $138.3 million.\n\n \n \n \n \n \n \n\n \nQuarterly Results - U.S. GAAP\nFiscal Q4 2021\nChange vs.\nFiscal Q4 2020 \nChange vs.\nFiscal Q3 2021 \nNet Revenue\n$485.3 million\nup 173.1%\nup 14.4%\nGross Profit\n$231.3 million\nup 160.2%\nup 18.2%\nGross Margin\n47.7%\ndown 230 bps\nup 160 bps\nIncome from Operations\n$154.8 million\nup 573%\nup 28.5%\nOperating Margin\n31.9%\nup 1900 bps\nup 350 bps\nNet Income\n$133.7 million\nup 746.2%\nup 17.5%\nNet Margin\n27.6%\nup 1870 bps\nup 80 bps\nEPS – Diluted\n$2.10\nup 740%\nup 17.3%\nQuarterly Results - Non-GAAP\nFiscal Q4 2021\nChange vs.\nFiscal Q4 2020\nChange vs.\nFiscal Q3 2021\nIncome from Operations\n$160.2 million\nup 448.7%\nup 27.2%\nOperating Margin\n33.0%\nup 1660 bps\nup 330 bps\nNet Income\n$138.3 million\nup 535.7%\nup 16.4%\nNet Margin\n28.5%\nup 1630 bps\nup 50 bps\nEPS - Diluted\n$2.17\nup 520%\nup 16%\nA reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also \"Use of non-GAAP Financial Results\" section.\nDuring the fiscal fourth quarter the Company was able to exceed revenue expectations by temporarily extending production capacity and also by delivering additional advanced display systems and services.\nFusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, \"Throughout fiscal 2021 we continued to support an ongoing period of industry expansion, while carefully navigating global supply-chain challenges. Additionally, we continued our aggressive development efforts, released several new market-ready solutions and also received customer acceptance with several others. These efforts expand our access to favorable long-term trends within the automotive, electronics assembly and advanced display end-markets.\"\nFiscal Year 2021 Financial Highlights\nNet revenue of $1,517.7 million. Gross margin of 45.9%. Net income of $367.2 million or $5.78 per share; non-GAAP net income of $390.2 million or $6.14 per share. The Company repurch...