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Kulicke & Soffa Reports Third Quarter 2022 Results
Delivers Strong Financial Performance; Strategic Execution Continues SINGAPORE, Aug. 3, 2022 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC)
About this update from Kulicke And Soffa Industries, Inc.
[{"type":"text","content":"Delivers Strong Financial Performance; Strategic Execution Continues\nSINGAPORE, Aug. 3, 2022 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (\"Kulicke & Soffa,\" \"K&S\" or the \"Company\"), today announced financial results of its third fiscal quarter ended July 2, 2022. The Company reported third quarter net revenue of $372.1 million, net income of $119.0 million, representing EPS of $1.99 per fully diluted share, and non-GAAP net income of $125.1 million, representing non-GAAP EPS of $2.09 per fully diluted share.\n\n \n \n \n \n \n \n\n \nQuarterly Results - U.S. GAAP\n \nFiscal Q3 2022\n \nChange vs.\nFiscal Q3 2021\nChange vs.\nFiscal Q2 2022\nNet Revenue\n$372.1 million\ndown 12.3%\ndown 3.2%\nGross Profit\n$190.7 million\ndown 2.6%\ndown 5.5%\nGross Margin\n51.2 %\nup 510 bps\ndown 130 bps\nIncome from Operations\n$122.1 million\nup 1.3%\ndown 5.6%\nOperating Margin\n32.8 %\nup 440 bps\ndown 90 bps\nNet Income\n$119.0 million\nup 4.6%\nup 2.6%\nNet Margin\n32.0 %\nup 520 bps\nup 180 bps\nEPS – Diluted\n$1.99\nup 11.2%\nup 7%\n \nQuarterly Results - Non-GAAP\n \nFiscal Q3 2022\n \nChange vs.\nFiscal Q3 2021\nChange vs.\nFiscal Q2 2022\nIncome from Operations\n$129.0 million\nup 2.5%\ndown 4.6%\nOperating Margin\n34.7 %\nup 500 bps\ndown 50 bps\nNet Income\n$125.1 million\nup 5.3%\nup 3%\nNet Margin\n33.6 %\nup 560 bps\nup 200 bps\nEPS – Diluted\n$2.09\nup 11.8%\nup 7.2%\nA reconciliation between the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also the \"Use of non-GAAP Financial Results\" section.\nFusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, \"Throughout the June quarter, we have continued to execute several new product development initiatives while generating strong earnings and aggressively returning capital to shareholders.\"\nOver the prior four quarters, K&S has generated $380 million in free-cash-flow and returned $263 million through its repurchase and dividend programs.\nThird Quarter Fiscal 2022 Financial Highlights\nNet revenue of $372.1 million.Gross margin of 51.2%.Net income of $119.0 million or $1.99 per share; non-GAAP net income of $125.1 million or $2.09 per share.Cash, cash equivalents, and short-term investments were $745.8 million as of July 2, 2022.The Company repurchased a total of 1.0 millio...