Kulicke & Soffa Lowers Guidance

Kulicke & Soffa ( KLIC) took down fourth-quarter revenue guidance in the face of sluggish demand for electronics.

The shares were down 22% to $4.11 on the Instinet premarket session.

Willow Grove, Pa.-based Kulicke now expects fourth-quarter revenue of between $105 million and $115 million, down from a previous estimate of about $132 million. Analysts currently expect the company to lose 19 cents a share in the period.

"End use demand for electronics products continues to be sluggish and customer visibility is poor across the semiconductor and semiconductor capital equipment food chain," the company said, adding it's seen "near-term slowdowns in most of our product offerings."

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