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Apr 03, 2021
Kulicke and Soffa Q2 2021 Earnings Report
Reported a strong second quarter with GAAP operating margin of 24.4%.
Key Takeaways
Kulicke & Soffa reported strong second quarter results with net revenue of $340.2 million, net income of $71.3 million, and EPS of $1.13. Non-GAAP net income was $79.4 million, representing non-GAAP EPS of $1.26.
Net revenue reached $340.2 million.
Gross margin was 43.7%.
Net income was $71.3 million, or $1.13 per share; non-GAAP net income was $79.4 million, or $1.26 per share.
Cash, cash equivalents, and short-term investments were $564.3 million as of April 3, 2021.
Kulicke and Soffa
Kulicke and Soffa
Forward Guidance
The Company currently expects net revenue in the third fiscal quarter of 2021 ending July 3, 2021 to be approximately $400 million +/- $20 million, and expects non-GAAP EPS to be approximately $1.35 +/- 10%.
Positive Outlook
- Net revenue is expected to be approximately $400 million +/- $20 million.
- Non-GAAP EPS is expected to be approximately $1.35 +/- 10%.
- Aggressive work to mitigate supply chain constraints.
- Further support customers during this period of industry growth.
- Increase outlook into the second fiscal half.
Challenges Ahead
- Ongoing global supply chain challenges.
- Incurred expediting fees and spot purchases of $4.9 million during the second fiscal quarter.
- These incremental expenses materially contributed to the sequential gross margin change in the second fiscal quarter.
- Anticipated to continue temporarily through the second fiscal half of 2021.
- Ongoing challenges remain.