Kulicke and Soffa Reports Upbeat Q4 Earnings, Issues Strong Q2 Guidance

Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) reported net revenue growth of 85.6% year-on-year to $267.9 million in the first quarter of FY21, exceeding the consensus by $2.96 million.
The gross profit rose 72.6% to $121.5 million with a margin contraction of 340 basis points. Operating income increased 303% to $54.0 million with a margin expansion of 1090 basis points.
Net income rose 187.2% to $53.7 million with a margin expansion of 700 basis points. EPS climbed 196.6% to $0.86, beating analyst estimates by $0.11.
Cash and equivalents stood at $576.7 million as of January 2, 2021.
"Demand has increased significantly in the December quarter driven by strength in the general semiconductor, LED, and automotive markets. Additionally, we have supported more complex, high-volume semiconductor assembly, which is increasing the capital intensity and longer-term opportunities within our served markets," said Kulicke & Soffa's CEO Fusen Chen.
The net revenue outlook for the second quarter of FY21 stands at $300 million versus the consensus estimate of $239.54 million.
Kulicke's Q2 EPS guidance is $0.88 versus the analyst consensus of $0.58.
Price action: KLIC shares are trading higher by 9.25% at $40.75 on the last check Thursday.