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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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