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.
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