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Kulicke & Soffa Reports Third Quarter 2013 Results

Stocks in this article: KLIC

Third Quarter Fiscal 2013 Key Product Trends

  • Ball bonder equipment net revenue increased 44.7% over the March quarter.
  • 85.7% of ball bonder equipment was sold as copper capable.
  • Wedge bonder equipment net revenue increased 7.8% over the March quarter.

Third Quarter Fiscal 2013 Financial Highlights

  • Net revenue of $141.2 million.
  • Gross margin of 46.7%.
  • Net income was $18.9 million or $0.25 per share.
  • Cash and cash equivalents were $508.5 million as at June 29, 2013.

Fourth Quarter Fiscal 2013 Outlook

The Company expects net revenue in the fourth fiscal quarter of 2013 ending September 28, 2013 to be approximately $175 million to $185 million.

Looking forward, Bruno Guilmart commented, “In addition to the revenue opportunities around the copper transition, demand has strengthened in the mobile device and memory segments. We also see increasing volumes from local customers in emerging markets, which further diversifies our revenue profile. We are focused on efficiently ramping capacity and scale to meet the anticipated rise in demand. In the longer term, by leveraging our technical strength and healthy balance sheet, we remain dedicated on maintaining our leading market positions while diligently exploring and entering new growth opportunities.”

Earnings Conference Call Details

A conference call to discuss these results will be held today, July 30, 2013, beginning at 8:00 am (EDT). To access the conference call, interested parties may call +1-877-407-8037 or internationally +1-201-689-8037. The call will also be available by live webcast at investor.kns.com.

A replay will be available from approximately one hour after the completion of the call through August 7, 2013 by calling toll-free +1-877-660-6853 or internationally +1-201-612-7415 and using the replay ID number of 417170. A webcast replay will also be available at investor.kns.com.

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