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Kulicke & Soffa Reports Second Quarter 2020 Results
SINGAPORE--(BUSINESS WIRE)-- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa,” “K&S” or the “Company”), today announced financial results
About this update from Kulicke And Soffa Industries, Inc.
[{"type":"text","content":" SINGAPORE--(BUSINESS WIRE)--\nKulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa,” “K&S” or the “Company”), today announced financial results of its second fiscal quarter ended March 28, 2020. The Company reported second quarter net revenue of $150.7 million, net income of $11.9 million and non-GAAP net income of $13.7 million.\n\n\n\n\nQuarterly Results - U.S. GAAP\n\n\n\n\n\n \n\n\n\nFiscal Q2 2020\n\n\n\nChange vs. Fiscal Q2 2019\n\n\n\nChange vs. Fiscal Q1 2020\n\n\n\n\n\nNet Revenue\n\n\n\n$150.7 million\n\n\n\nup 30.1%\n\n\n\nup 4.4%\n\n\n\n\n\nGross Profit\n\n\n\n$69.3 million\n\n\n\nup 24.6%\n\n\n\ndown 1.6%\n\n\n\n\n\nGross Margin\n\n\n\n46.0%\n\n\n\ndown 190 bps\n\n\n\ndown 280 bps\n\n\n\n\n\nIncome from Operations\n\n\n\n$11.1 million\n\n\n\nup 544%\n\n\n\ndown 17.2%\n\n\n\n\n\nOperating Margin\n\n\n\n7.3%\n\n\n\nup 950 bps\n\n\n\ndown 200 bps\n\n\n\n\n\nNet Income\n\n\n\n$11.9 million\n\n\n\nup 430.6%\n\n\n\ndown 11.9%\n\n\n\n\n\nNet Margin\n\n\n\n7.9%\n\n\n\nup 1100 bps\n\n\n\ndown 150 bps\n\n\n\n\n\nEPS – Diluted(a)\n\n\n\n$0.19\n\n\n\nup 480%\n\n\n\ndown 9.5%\n\n\n\n\n\n\n\n(a)\n\n\n\n\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. For the three months ended March 30, 2019, 0.8 million shares of restricted stock units and stock options were excluded due to the Company's net loss.\n\n\n\n\n\n\n\nQuarterly Results - Non-GAAP\n\n\n\n\n\n \n\n\n\nFiscal Q2 2020\n\n\n\nChange vs. Fiscal Q2 2019\n\n\n\nChange vs. Fiscal Q1 2020\n\n\n\n\n\nIncome from Operations\n\n\n\n$12.9 million\n\n\n\nup 1175%\n\n\n\ndown 17.3%\n\n\n\n\n\nOperating Margin\n\n\n\n8.6%\n\n\n\nup 970 bps\n\n\n\ndown 220 bps\n\n\n\n\n\nNet Income\n\n\n\n$13.7 million\n\n\n\nup 6750%\n\n\n\ndown 12.7%\n\n\n\n\n\nNet Margin\n\n\n\n9.1%\n\n\n\nup 890 bps\n\n\n\ndown 180 bps\n\n\n\n\n\nEPS - Diluted\n\n\n\n$0.22\n\n\n\nNA\n\n\n\ndown 8.3%\n\n\n\n\n\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.\n\n\nDr. Fusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, \"While the ongoing COVID-19 pandemic continues ...