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Dec 28, 2019
Kulicke and Soffa Q1 2020 Earnings Report
Kulicke & Soffa reported first quarter results with net income of $13.5 million and revenue of $144.3 million.
Key Takeaways
Kulicke & Soffa reported Q1 2020 results, with net revenue of $144.3 million, net income of $13.5 million, and non-GAAP net income of $15.7 million. Demand for advanced packaging, memory, and automotive-focused solutions improved, leading to a sequential increase in net revenue.
Net revenue was $144.3 million.
Gross margin was 48.8%.
Net income was $13.5 million, or $0.21 per share; non-GAAP net income was $15.7 million, or $0.24 per share.
Cash, cash equivalents, and short-term investments, net of bank overdraft, were $540.4 million.
Forward Guidance
The Company currently expects net revenue in the second fiscal quarter of 2020 ending March 28, 2020 to be approximately $140 million to $170 million, representing a 7% sequential improvement.
Positive Outlook
- Revenue expected between $140 million and $170 million for next quarter
- 7% sequential improvement expected
- Aggressive capital spending anticipated in served markets through fiscal year 2020
- Development investments have allowed the company to become a true multi-product company
- Efforts have expanded served available market and increased business diversification
Challenges Ahead
- Risk that the Company fails to meet its operational and financial targets in order to adhere to its dividend policy
- Risk that customer orders already received may be postponed or canceled, generally without charges
- Risk that anticipated customer orders may not materialize
Historical Earnings Impact
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Avg. Return Before/After Earnings
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