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Kulicke & Soffa Reports Third Quarter 2013 Results

Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”, “K&S” or the “Company”) today announced results for its third fiscal quarter ended June 29, 2013.
Quarterly Results

Fiscal Q3 2013

Change vs. Fiscal Q3 2012

Change vs. Fiscal Q2 2013
Net Revenue   $141.2 million   (44.7)%   33.1%
Gross Profit   $65.9 million   (46.2)%   35.0%
Gross Margin   46.7%   (120) bps   70 bps
Income from Operations $18.9 million (75.3)% 130.4%
Operating Margin   13.4%   (1,650) bps   570 bps
Net Income $18.9 million (72.3)% 157.5%
Net Margin   13.4%   (1,330) bps   650 bps
EPS – Diluted   $0.25   (72.2)%   150%

Bruno Guilmart, Kulicke & Soffa's President and Chief Executive Officer, said, “Revenue for the third fiscal quarter exceeded the high end of our guidance range. This sequential growth reflects a higher proportion of sales to our top 5 customers, along with a broader recovery of the sector. We are encouraged by our ability to maintain our cost structure while also maintaining our gross margins at 46.7%, above our trailing 3 year average of 46.0%. This reflects our brand premium and technology leadership in the market place, and also our highly responsive, scalable operating model.”

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