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Kulicke & Soffa Reports Fourth Quarter 2022 Results
SINGAPORE, Nov. 16, 2022 /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. 16, 2022 /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 1, 2022. The Company reported fourth quarter net revenue of $286.3 million, net income of $64.9 million and non-GAAP net income of $70.2 million.\n\n \n \n \n \n \n \n\n \nQuarterly Results - U.S. GAAP\n \nFiscal Q4 2022\n \nChange vs.\nFiscal Q4 2021\nChange vs.\nFiscal Q3 2022 \nNet Revenue\n$286.3 million\ndown 41%\ndown 23.1%\nGross Profit\n$132.7 million\ndown 42.6%\ndown 30.4%\nGross Margin\n46.3 %\ndown 140 bps\ndown 490 bps\nIncome from Operations\n$67.5 million\ndown 56.4%\ndown 44.7%\nOperating Margin\n23.6 %\ndown 830 bps\ndown 920 bps\nNet Income\n$64.9 million\ndown 51.5%\ndown 45.5%\nNet Margin\n22.7 %\ndown 490 bps\ndown 930 bps\nEPS – Diluted\n$1.10\ndown 47.6%\ndown 44.7%\n \nQuarterly Results - Non-GAAP\nFiscal Q4 2022\nChange vs.\nFiscal Q4 2021\nChange vs.\nFiscal Q3 2022\nIncome from Operations\n$73.6 million\ndown 54.1%\ndown 42.9%\nOperating Margin\n25.7 %\ndown 730 bps\ndown 900 bps\nNet Income\n$70.2 million\ndown 49.2%\ndown 43.9%\nNet Margin\n24.5 %\ndown 400 bps\ndown 910 bps\nEPS - Diluted\n$1.19\ndown 45.2%\ndown 43.1%\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.\nFusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, \"Although the near-term environment is dynamic, past efforts to enhance our culture, optimize our market-leading businesses, and drive innovations across several emerging technology transitions, provide additional paths for sustainable, long-term growth. Our growing portfolio of competitive, market-ready solutions and financial performance stand as testaments to this progress.\"\nThrough organic development, prudent acquisitions and close industry partnerships, Kulicke & Soffa's served available market has grown to approximately $4.7 billion in fiscal 2022, up 51 percent from fiscal 2018.\nFiscal Year 2022 Financial Highlights\nNet revenue of $1,503.6 million.Gross margin of 49.8%.Net income of $433.5 million or $7.09 per share; non-GAAP net income of $455.6 million or $7.45 per share.Adjusted free cash flow of $367.4...