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Dec 31, 2022
Kulicke and Soffa Q1 2023 Earnings Report
Kulicke & Soffa reported first quarter results, recognizing revenue for initial Fluxless Thermocompression and LUMINEXTM Advanced Display Systems. Resilient demand for Automotive & Advanced Packaging Solutions continued.
Key Takeaways
Kulicke & Soffa's first quarter net revenue was $176.2 million, with a net income of $14.6 million, resulting in an EPS of $0.25. The non-GAAP net income was $21.8 million, with a non-GAAP EPS of $0.37.
Net revenue was $176.2 million.
Gross margin was 50.3%.
Net income was $14.6 million, or $0.25 per share; non-GAAP net income was $21.8 million, or $0.37 per share.
GAAP cash from operations was $85.1 million; Adjusted free cash flow was $71.2 million
Forward Guidance
The Company currently expects net revenue in the second fiscal quarter of 2023 ending April 1, 2023 to be approximately $170 million +/- $20 million, GAAP EPS to be approximately $0.16 +/- 10%, and non-GAAP EPS to be approximately $0.25 +/- 10%.
Positive Outlook
- Anticipate a period of improving demand in our second fiscal half
- Driven by typical seasonal improvements within higher-volume markets
- Larger weighting of advanced packaging and advanced display revenue
- Improving book-to-bill ratio
Challenges Ahead
- Near-term macro environment remains dynamic
Historical Earnings Impact
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Avg. Return Before/After Earnings
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