Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”, “K&S” or the “Company”) today announced results for its first fiscal quarter ended December 29, 2012.
Fiscal Q1 2013
| Change vs.
Fiscal Q1 2012
| Change vs.
Fiscal Q4 2012
|Net Revenue||$114.0 million||(5.0%)||(57.6%)|
|Gross Profit||$51.5 million||(6.8%)||(58.1%)|
|Gross Margin||45.2%||(90) bps||(50) bps|
|Income from Operations||$4.2 million||(66.0%)||(94.0%)|
|Operating Margin||3.7%||(660) bps||(2,240) bps|
|Net Income||$3.6 million||(57.6%)||(94.6%)|
|Net Margin||3.2%||(390) bps||(2,180) bps|
|EPS – Diluted||$0.05||(54.5%)||(94.4%)|
Bruno Guilmart, Kulicke & Soffa’s President and Chief Executive Officer, said, “The first fiscal quarter’s revenue came in at the higher end of our guidance range. The pullback from the prior quarter reflects the high degree of seasonality in our business, with the December quarter traditionally the weakest of the fiscal year. We planned for the decline and took appropriate actions at the beginning of the quarter to accelerate our cost- containment programs. As a result, we reduced our operating expenses by 10% compared to the prior quarter, further strengthened our balance sheet and maintained a strong gross margin.”
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