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Kulicke & Soffa Reports Fourth Quarter 2024 Results
SINGAPORE, Nov. 13, 2024 /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. 13, 2024 /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 28, 2024. The Company reported fourth quarter net revenue of $181.3 million, net income of $12.1 million, representing EPS of $0.22 per fully diluted shares, and non-GAAP net income of $18.5 million, representing non-GAAP EPS of $0.34 per fully diluted share.\n\nQuarterly Results - U.S. GAAP\n \nFiscal Q4 2024\n \nChange vs.\nFiscal Q4 2023\nChange vs.\nFiscal Q3 2024\nNet Revenue\n$181.3 million\ndown 10.4%\ndown 0.2%\nGross Margin\n48.3 %\nup 90 bps\nup 170 bps\nIncome from Operations\n$2.7 million\ndown 86.2%\ndown 67.5%\nOperating Margin\n1.5 %\ndown 810 bps\ndown 310 bps\nNet Income\n$12.1 million\ndown 48.1%\ndown 1.2%\nNet Margin\n6.7 %\ndown 480 bps\ndown 10 bps\nEPS – Diluted\n$0.22\ndown 46.3%\nup 0%\n \nQuarterly Results - Non-GAAP\n \nFiscal Q4 2024\n \nChange vs.\nFiscal Q4 2023\nChange vs.\nFiscal Q3 2024\nIncome from Operations\n$12.7 million\ndown 51.7%\ndown 20.2%\nOperating Margin\n7.0 %\ndown 600 bps\ndown 170 bps\nNet Income\n$18.5 million\ndown 37%\ndown 4.1%\nNet Margin\n10.2 %\ndown 430 bps\ndown 40 bps\nEPS - Diluted\n$0.34\ndown 33.3%\ndown 2.9%\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, \"We continue to drive market adoption of our advanced packaging and assembly solutions including vertical wire, high-power interconnect (HPI), advanced dispense and fluxless thermo-compression (FTC). Demand for these solutions is anticipated to accelerate along with coordinated General Semiconductor and Automotive market recovery through fiscal year 2025.\"\nThe transition to emerging chiplet and heterogeneous applications — which are enabling new levels of performance and transistor density — position Kulicke & Soffa for additional share gains within leading-edge logic. Beyond this emerging FTC solution which is supporting leading-edge assembly transitions; high-volume memory, automotive and LED applications are also requiring new assembly solutions which can deliver package-leve...