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Oct 01, 2022
Kulicke and Soffa Q4 2022 Earnings Report
Announced fourth quarter 2022 results, reporting net revenue of $286.3 million and net income of $64.9 million.
Key Takeaways
Kulicke & Soffa reported Q4 2022 results with net revenue of $286.3 million, net income of $64.9 million, and non-GAAP net income of $70.2 million.
Net revenue for the fourth quarter was $286.3 million.
Gross margin for the fourth quarter was 46.3%.
Net income for the fourth quarter was $64.9 million, or $1.10 per share; non-GAAP net income was $70.2 million, or $1.19 per share.
Cash, cash equivalents, and short-term investments were $775.5 million as of October 1, 2022.
Kulicke and Soffa
Kulicke and Soffa
Forward Guidance
K&S anticipates a period of capacity digestion for its high-volume assembly solutions over the coming quarters. The Company currently expects net revenue in the first fiscal quarter of 2023, ending December 31, 2022, to be approximately $175.0 million, +/- $20 million, and expects non-GAAP EPS to be approximately $0.20, +/- 10%.
Positive Outlook
- Access to new markets have enhanced through-cycle performance
- Optimization efforts have enhanced through-cycle performance
- Focused on executing strategically near-term.
- Fiscal 2023 is a critical adoption year for growing portfolio of Advanced Packaging solutions
- Fiscal 2023 is a critical adoption year for growing portfolio of Automotive solutions
Challenges Ahead
- Due to a combination of macro and industry related factors
- K&S continues to anticipate a period of capacity digestion for its high-volume assembly solutions over the coming quarters.
- Expects net revenue in the first fiscal quarter of 2023, ending December 31, 2022, to be approximately $175.0 million, +/- $20 million
- Expects non-GAAP EPS to be approximately $0.20, +/- 10%.
- Near-term environment is dynamic