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Jun 27, 2020
Kulicke and Soffa Q3 2020 Earnings Report
Kulicke & Soffa reported third quarter results with net income of $11.2 million and revenue of $150.5 million.
Key Takeaways
Kulicke & Soffa reported a net revenue of $150.5 million, a net income of $11.2 million, and a non-GAAP net income of $12.9 million for the third quarter of 2020.
Net revenue was $150.5 million.
Gross margin was 46.1%.
Net income was $11.2 million, or $0.18 per share; non-GAAP net income was $12.9 million, or $0.21 per share.
Cash, cash equivalents, and short-term investments were $515.8 million as of June 27, 2020.
Kulicke and Soffa
Kulicke and Soffa
Forward Guidance
The Company currently expects net revenue in the fourth fiscal quarter of 2020 ending October 3, 2020 to be approximately $165 million +/- $10 million.
Positive Outlook
- Maintained pace of development
- Ramped production of Pixalux
- Increased share repurchase activity
- Delivered strong financial performance
- Successfully entered the display market
Challenges Ahead
- Broad industry challenges
- Near-term, episodic and unpredictable COVID-19-related headwinds
- Industry may continue to face COVID-19-related headwinds through calendar year 2021