Semiconductor equipment maker
Kulicke & Soffa
met analysts' expectations for the fourth quarter, thanks to strong demand for its products and services.
Earlier this month, shares of Kulicke & Soffa tumbled after the company said that continued order deferrals and push-outs would hurt revenue for the first quarter ending Dec. 31.
The company, which is based in Willow Grove, Pa., reported net income for the latest fourth quarter of $30.2 million, or 54 cents a diluted share, meeting the 13-analyst
First Call/Thomson Financial
consensus estimate. The company reported net income of $7.4 million, or 15 cents a share, in the comparable period a year ago.
Excluding a reserve reversal and the write-off of an investment in a joint venture, the company earned 56 cents a share.
Sales for the quarter came in at $229 million, a 49% increase from the year-ago figure of $153 million.
Shares of Kulicke & Soffa were recently trading up 56 cents, or 5%, to $11.81 in