Kulicke And Soffa Industries, Inc. · NASDAQ:KLIC
Kulicke And Soffa Industries — Q2 2023 Earnings Presentation
11 slides from Kulicke And Soffa Industries's earnings presentation, May 4, 2023
Slide 1: Quarterly Earnings Review Q2F23
NASDAQ: KLIC Quarterly Earnings Review Q2F23 Ended Apr 1, 2023 May 4, 2023 1
Slide 2: Safe Harbor
Earnings Review Safe Harbor In addition to historical statements, this presentation contains statements relating to future events and our future results based on management’s expectations as of May 3, 2023. These statements are “forward-looking” statements within the meaning of the Private Securitie
Slide 3: Q2F23 Update: Multiple Growth Initiatives in Parallel
Q2F23 Update Multiple Growth Initiatives in Parallel Market Update High-Volume Markets Improving Fundamentals • Recent uptick in order & quote activity • Enhanced trough-to-trough performance • Resilience in Power Semi & Storage • Record TCB revenue in Q2F23 • Recovery pace dependent on macro & • Ca
Slide 4: Q2F23 Revenue Composition
Q2F23 Revenue Composition Revenue per quarter 5Yr Avg = quarterly average of preceding five fiscal years By Segment & End Market As a percent of total revenue Capital Equipment Revenue: $133.7M APS Revenue: $39.3M General Semi LED Auto & Industrial Memory $51 $39 $71 $6 $5 • General Semi – Ongoing a
Slide 5: Q2F23 & Beyond: Key Market Takeaways
Q2F23 & Beyond Key Market Takeaways Actively Participating in Long-Term Transitions 1 Assembly Complexity – Both high-volume & leading edge EV & Infrastructure – Expanding demand for market-leading power systems Advanced Display – Several products & several leading customers Delivering Value Through
Slide 6: Q2F23 Financial Results
Q2F23 Financial Results $173M Q2F23 Expected Trough Revenue Down 2% Q/Q Revenue Quarter $64M Down $4.8M Q/Q Non-GAAP Non-GAAP TTM GAAP Operating Profit Operating Operating Up Nearly 9X from F19 Expense* Margin* 11.8% Up 30 bps Q/Q OpEx Cost Controls Non-GAAP Remained in Place $0.38 Up 3% Q/Q Diluted
Slide 7: Income Statement
Income Statement Q2F23 Summary Items $Millions, except %, EPS, and share count Q2F22 Q1F23 Q2F23 Q/Q Y/Y Revenue $384.3 $176.2 $173.0 ($3.2) ($211.3) Gross Margin 52.5% 50.3% 48.6% (170) bps (390) bps Operating Expenses $72.4 $76.9 $71.5 ($5.4) ($0.9) Operating Income $129.3 $11.8 $12.6 $0.8 ($116.7
Slide 8: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q2F23 Summary Items $Millions Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Accounts Receivable $368.1 $350.0 $309.3 $200.3 $169.1 Inventory $211.9 $215.3 $185.0 $211.6 $224.2 Accounts Payable $100.2 $98.6 $67.3 $57.5 $54.9 Net Cash* $415.6 $471.7 $526.9 $574.6 $538.4 Working Capital
Slide 9: Outlook Q3F23
Outlook Q3F23 $190M Demand & Quote Activity Revenue +/- $20M Improvement $73M +/- 2% Non-GAAP Fiscal Second Half Weighted Operating Gross Expense Margin 48% 10% Sequential Revenue +/- 100 bps Growth Expected in Q4F23 Non-GAAP $0.32 +/- 10% Diluted EPS* *Non-GAAP EPS assumes $5.5M of non-GAAP adjustm
Slide 10: Earnings Review Q&A
Earnings Review Q&A For additional information investor.kns.com investor@kns.com 10
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation ee a Me ee eer Gar Netcom a (In thousands, except percentages and per share data) naudited) ‘Three months ended a= ‘April 1, 2023 ‘April 2, 2022 December 31, 2022 to Non-GAAP Income from Operations and Operating Margin Netrevenve s 1nso21Es semis ine238 (in thousands, except
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