Kulicke & Soffa Reports First Quarter 2014 Results

Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”, “K&S” or the “Company”) today announced results for its first fiscal quarter ended December 28, 2013.
 
Quarterly Results
    Fiscal Q1 2014  

Change vs. Fiscal Q1 2013
 

Change vs. Fiscal Q4 2013
Net Revenue   $79.1 million   (30.6)%   (54.4)%
Gross Profit   $38.4 million   (25.5)%   (52.5)%
Gross Margin   48.5%   330 bps   200 bps
Loss from Operations ($2.2 million) (152.5)% (106.4)%
Operating Margin   (2.8)%   (650) bps   (2,270) bps
Net Loss ($2.0 million) (154.3)% (106.6)%
Net Margin   (2.5)%   (570) bps   (1,950) bps
EPS – Diluted   ($0.03)   (160.0)%   (107.7)%
 

Bruno Guilmart, Kulicke & Soffa's President and Chief Executive Officer, said, “We have demonstrated the ability to drive significant operational leverage at reasonable costs, in periods of strong demand and have now demonstrated the ability to lower our break-even point and minimize losses, in periods of soft demand. During the December quarter, the shift in product mix and our ability to adjust manufacturing capacity by over 50%, has enabled us to drive meaningful gross margin improvement."

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