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Kulicke & Soffa Reports Fourth Quarter 2023 Results
SINGAPORE, Nov. 15, 2023 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S," "our," or the "Company"), today
About this update from Kulicke And Soffa Industries, Inc.
[{"type":"text","content":"SINGAPORE, Nov. 15, 2023 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (\"Kulicke & Soffa,\" \"K&S,\" \"our,\" or the \"Company\"), today announced the financial results of its fourth fiscal quarter ended September 30, 2023. The Company reported fourth quarter net revenue of $202.3 million and net income of $23.4 million, representing EPS of $0.41 per fully diluted shares, and non-GAAP net income of $29.4 million, representing non-GAAP EPS of $0.51 per fully diluted share.\n\n \n \n \n \n \n \n\n \nQuarterly Results - U.S. GAAP\n \nFiscal Q4 2023\n \nChange vs.\nFiscal Q4 2022\nChange vs.\nFiscal Q3 2023\nNet Revenue\n$202.3 million\ndown 29.3%\nup 6%\nGross Margin\n47.4 %\nup 110 bps\nup 20 bps\nOperating Margin\n9.6 %\ndown 1400 bps\nup 1200 bps\nNet Income\n$23.4 million\ndown 64%\nup 461.3%\nNet Margin\n11.5 %\ndown 1120 bps\nup 930 bps\nEPS – Diluted\n$0.41\ndown 62.7%\nup 485.7%\nQuarterly Results - Non-GAAP\nFiscal Q4 2023\nChange vs.\nFiscal Q4 2022\nChange vs.\nFiscal Q3 2023\nIncome from Operations\n$26.3 million\ndown 64.3%\nup 8.2%\nOperating Margin\n13.0 %\ndown 1270 bps\nup 30 bps\nNet Income\n$29.4 million\ndown 58.1%\ndown 7.8%\nNet Margin\n14.5 %\ndown 1000 bps\ndown 220 bps\nEPS - Diluted\n$0.51\ndown 57.1%\ndown 7.3%\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, \"The General Semiconductor and LED end markets have shown clear improvements in the September quarter. As we execute on a broad range of technology-driven initiatives throughout 2024, we expect industry conditions, and also unique K&S opportunities, to strengthen.\"\nKulicke & Soffa's broadening portfolio of solutions are becoming increasingly technology driven due to a growing industry need for more capable semiconductor and display solutions.\nFiscal Year 2023 Financial Highlights\nNet revenue of $742.5 million.Gross margin of 48.3%.Net income of $57.1 million or $0.99 per fully diluted share; non-GAAP net income of $105.0 million or $1.82 per fully diluted share.GAAP cash from operations of $173.4 million; Adjusted free cash flow of $129.6 million.The Company repurchased a total of 1.5 million shares of common stock at a c...