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Kulicke & Soffa Earnings Rise Sharply From a Year Ago

Semiconductor equipment maker

Kulicke & Soffa

(KLIC) - Get Kulicke and Soffa Industries Inc. Report

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

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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