Kulicke And Soffa Industries, Inc. · NASDAQ:KLIC
Kulicke And Soffa Industries — Q1 2023 Earnings Presentation
11 slides from Kulicke And Soffa Industries's earnings presentation, Feb 2, 2023
Slide 1: Quarterly Earnings Review Q1F23
NASDAQ: KLIC Quarterly Earnings Review Q1F23 Ended Dec 31, 2022 February 2, 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 February 1, 2023. These statements are “forward-looking” statements within the meaning of the Private Secu
Slide 3: Q1F23 Update: Multiple Growth Initiatives in Parallel
Q1F23 Update Multiple Growth Initiatives in Parallel Current Internal Focus • Automotive - EV & Autonomous; Power Semi Capital Equipment Production • Semiconductor - Positioned for new share gains in logic Capacity to Increase 44% in CY23 • Advanced Display - Ongoing customer engagements Supporting
Slide 4: Q1F23 Revenue Composition
Q1F23 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: $135.4M APS Revenue: $40.8M General Semi LED Auto & Industrial Memory $53 $41 $68 $9 $5 • General Semi – High-volu
Slide 5: Q2F23 & Beyond: Tactical Focus Areas
Q2F23 & Beyond Tactical Focus Areas Parallel Growth Initiatives 1 New product development, qualifications and customer engagements High-volume optimization Resilient demand in power semi, auto and advanced packaging Pending Dispense Acquisition 2 Strategic access to $2B TAM with adjacencies Anticipa
Slide 6: Q1F23 Financial Results
Q1F23 Financial Results $176.2M Mix & Features, Supplier Rebate & CapEx Shifts Improved GM Revenue Down 38% Q/Q $68.8M relative to prior guidance expectations Up $15.6% Q/Q Non-GAAP Non-GAAP OpEx Cost Controls Operating Operating Implemented in FQ1 Expense* Margin* 11.5% FCF of $71.2M* Down 1,400 bp
Slide 7: Income Statement
Income Statement Q1F23 Summary Items $Millions, except %, EPS, and share count Q1F22 Q4F22 Q1F23 Q/Q Y/Y Revenue $460.9 $286.3 $176.2 ($110.1) ($284.7) Gross Margin 48.4% 46.3% 50.3% 400 bps 190 bps Operating Expenses $72.1 $65.1 $76.9 $11.8 $4.8 Operating Income $151.1 $67.5 $11.8 ($55.7) ($139.3)
Slide 8: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Q1F23 Summary Items $Millions Q1F22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Accounts Receivable $431.6 $368.1 $350.0 $309.3 $200.3 Inventory $197.2 $211.9 $215.3 $185.0 $211.6 Accounts Payable $148.8 $100.2 $98.6 $67.3 $57.5 Net Cash* $464.7 $415.6 $471.7 $526.9 $574.6 Working Capital
Slide 9: Outlook Q2F23
Outlook Q2F23 $170M Cost Control Efforts Now Revenue +/- $20M Include Hiring Freeze $68M +/- 2% Non-GAAP Expect Second Fiscal Half Demand Improvements Operating Gross Expense Margin 46% Persistent Execution Through +/- 100 bps Dynamic Environment Non-GAAP $0.25 +/- 10% Diluted EPS* *Non-GAAP EPS ass
Slide 10: Earnings Review Q&A
Earnings Review Q1F23 Q&A For additional information investor.kns.com investor@kns.com 10
Slide 11: Non-GAAP Reconciliation
Non-GAAP Reconciliation Reconciliation of U.S. GAAP to Non-GAAP Income from Operations and Operating Margin (In thousands, except percentages) (Unaudited) Three months ended January 1, 2022 December 31, 2022 October 1, 2022 Net revenue s 176.233 $ 460,888 S 286,313 U.S. GAAP income from operations 1
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