Kulicke & Soffa
swung to a fourth-quarter profit that beat estimates, boosted by higher revenue and lower costs. The company tamped down its outlook for the current period, however.
The semiconductor parts company earned $3.3 million, or 5 cents a share, in the three months ended Sept. 30, compared with a loss of $28.4 million, or 57 cents a share, last year. The latest quarter included a net charge of about $1.3 million from a note redemption.
Analysts had been forecasting earnings of 3 cents a share in the latest quarter. Kulicke's revenue rose 18% from a year ago to $147.5 million, about $6.5 million better than expected.
The company expects revenue of $115 million to $130 million in the first quarter, compared with analyst estimates of $128 million. It cited a downturn in demand that it took steps to anticipate.
"While we can't change the cycle, we can focus on the inevitable recovery, continuing to reshape the company to maximize our performance over the whole cycle," Kulicke said.
"Many of our objectives for fiscal 2004 were focused on reducing the company's cost structure in anticipation of ongoing cyclicality in the semiconductor business," the company said. "Now that the downturn is upon us, the benefits from those efforts are apparent."