UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ For the quarterly period ended April 2, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from to . Commission File No.: 0-121 KULICKE AND SOFFA INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 23-1498399 (State or other jurisdic ...

Financial Data and Key Metrics Changes - The company achieved revenue of $460.9 million and a non-GAAP EPS of $2.19 for the quarter [16][23] - Gross margins were strong at 48.4%, benefiting from improvements in capital equipment and aftermarket products [22] - Non-GAAP operating expenses were $65.4 million, lower than expected due to delayed internal projects [23] Business Line Data and Key Metrics Changes - Capital equipment revenue was $408.6 million, with strong demand across all end markets [17] - General semiconductor revenue was over 50% higher than the same period last year, despite a sequential decline of 16% [17][18] - Advanced display revenue increased by 28%, representing 56% of total LED revenue, up from 40% in the previous quarter [18] - Automotive demand increased by 92% sequentially, driven by improvements in battery assembly and sensing solutions [19] Market Data and Key Metrics Changes - China accounted for approximately 70% of total revenue, with Taiwan being another strong market [40][98] - The company expects continued strong demand in the automotive sector, particularly in battery assembly and power distribution [19] Company Strategy and Development Direction - The company is focusing on expanding its market reach in advanced packaging, automotive, and advanced display sectors [6][21] - There is a strong emphasis on heterogeneous integration and Chiplet integration as long-term opportunities [8] - The company is actively engaging with multiple high-potential customers in the battery production market [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of the semiconductor industry, anticipating above-average growth through fiscal 2023 [26] - The company is optimistic about overcoming current supply chain challenges and expects improvements in logistics and wafer production in the second half of the year [21][26] - The outlook for fiscal 2022 revenue is approximately $1.58 billion, with expectations for strong demand to continue [26][27] Other Important Information - The company increased its dividend by 21% for the January payout and plans to continue increasing it consistently [24] - Share repurchases in the December quarter were over four times higher than the previous quarter, indicating a strong commitment to returning value to shareholders [25] Q&A Session Summary Question: OpEx guidance for fiscal 2022 - Management indicated that non-GAAP OpEx is expected to remain around $75 million for the fiscal year, with Q1 being lower due to delayed R&D projects [33][34] Question: Revenue guidance and backlog - The revenue guidance of $1.58 billion is considered a base case, with potential upside depending on supply chain improvements [37][38] Question: Revenue split between China and non-China - China represents about 70% of revenue, with a significant portion coming from OSAT customers [40] Question: Supply constraints and wafer shortages - Management noted that while supply constraints are easing, the impact of wafer shortages is still a concern, with expectations for gradual improvement [46][70] Question: Battery business and competition - The company is developing new battery assembly systems and sees laser-based solutions as a competitive advantage, although reliability remains a concern [78] Question: Utilization rates and seasonality - Utilization rates are in the high 80s, with some seasonal dips expected around the Chinese New Year [65][69] Question: Future engagement with automotive OEMs - Some engagements with automotive OEMs are expected to yield results in fiscal 2022, while others may take longer to materialize [88]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ For the quarterly period ended January 1, 2022 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ For the transition period from to . Commission File No. 0-121 KULICKE AND SOFFA INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 23-1498399 (State or other jurisdi ...

Quarterly Earnings Review Nov 18, 2021 Q4F21 Ended Oct 2, 2021 NASDAQ: KLIC Safe Harbor | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Q4 2021 Results Conference Call November 18, 2021 8:00 AM ET Company Participants Joe Elgindy - IR Fusen Chen - President & CEO Lester Wong - CFO Conference Call Participants Christian Schwab - Craig-Hallum Craig Ellis - B. Riley Securities David Duley - Steelhead Securities Krish Sankar - Cowen & Company Tom Diffely - D.A. Davidson Charles Shi - Needham & Company Dylan Patel - SemiAnalysis Operator Hello, and welcome to the Kulicke and Soffa 2021 Fourth Fisc ...

Financial Performance - Net revenue for fiscal 2021 reached $1,517,664, an increase of 143.5% compared to $623,176 in fiscal 2020[176] - Gross profit for fiscal 2021 was $696,986, reflecting a 133.9% increase from $297,975 in fiscal 2020[176] - Income from operations surged to $412,447 in fiscal 2021, a remarkable increase of 604.9% from $58,509 in fiscal 2020[176] - Net income for fiscal 2021 was $367.2 million, a substantial increase from $52.3 million in fiscal 2020, resulting in a net income per share of $5.92[243] - The company’s comprehensive income for fiscal 2021 was $366.7 million, compared to $59.7 million in fiscal 2020, reflecting overall financial health[245] Revenue and Growth - Bookings for fiscal 2021 reached $2,176,981 thousand, a significant increase of 236.5% compared to $646,389 thousand in fiscal 2020[178] - Backlog as of October 2, 2021, was $787,241 thousand, up from $127,924 thousand as of October 3, 2020, indicating strong future demand[178] - Future revenue growth is expected to be influenced by ongoing research and development efforts and the identification of new growth opportunities[155] - The company anticipates continued growth in the semiconductor industry and related markets, driven by increasing demand for advanced packaging and electronic assembly equipment[155] Expenses and Costs - Cost of sales increased by 152.4% to $820,678 in fiscal 2021 from $325,201 in fiscal 2020[176] - Selling, general and administrative expenses rose by 26.8% to $147,061 in fiscal 2021 compared to $116,007 in fiscal 2020[176] - Research and development expenses increased by 11.4% to $137,478 in fiscal 2021 from $123,459 in fiscal 2020[176] - Operating expenses totaled $284,539 in fiscal 2021, an increase of 18.8% from $239,466 in fiscal 2020[176] Assets and Liabilities - Total current assets increased to $1,351.9 million as of October 2, 2021, up from $860.2 million as of October 3, 2020[241] - The company's total assets reached $1,601.6 million, compared to $1,054.6 million in the previous year, indicating strong growth[241] - Total liabilities increased to $506.4 million from $296.6 million, reflecting a rise in accounts payable and accrued expenses[241] Cash and Investments - Cash and cash equivalents as of October 2, 2021, were $362,788 thousand, up from $188,127 thousand as of October 3, 2020, reflecting a $174,661 thousand increase[199] - As of October 2, 2021, the company held approximately $724.5 million in cash, cash equivalents, and short-term investments in foreign subsidiaries, up from $492.0 million as of October 3, 2020[209] - Cash, cash equivalents, and short-term investments totaled $739,806 as of October 2, 2021, with cash alone amounting to $269,201[325] Shareholder Returns - The company declared dividends of $0.56 per share of common stock during the fiscal year ended October 2, 2021, with a quarterly dividend of $0.14 per share declared on multiple occasions[213] - The company repurchased approximately 215.0 thousand shares of common stock at a cost of approximately $10.2 million during the fiscal year ended October 2, 2021, with a remaining share repurchase authorization of approximately $132.0 million[212] Tax and Compliance - The effective tax rate for fiscal 2021 was 11.4%, down from 18.6% in fiscal 2020, due to various tax benefits and adjustments[196] - Deferred tax liabilities amounted to $32.8 million, with an unrecognized tax benefit of $15.0 million recorded within income tax payable for uncertain tax positions[215] Acquisitions and Investments - The acquisition of Uniqarta was completed for a purchase price of $26.5 million, enhancing the company's presence in the LED market[306][307] - The company incurred $1.7 million in acquisition-related expenses during fiscal 2021, included in selling, general, and administrative expenses[312] Risk Management - A 10.0% fluctuation in foreign currency could impact the company's financial position, results of operations, or cash flows by $2.0 to $3.0 million[221] - The company has foreign exchange forward contracts with a notional amount of $57.7 million outstanding as of October 2, 2021, to hedge against foreign currency risks[222]

《Kulicke & Soffa。 1 1 Investor Day 2021 September 23, 2021 TechnoloyChange Extending market access, supporting profitability enhancements Safe Harbor In addition to historical statements, this presentation contains statements relating to future events and our future results based on management's expectations as of September 23, 2021. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent o ...

PART I [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS%20(Unaudited)) The unaudited financial statements for July 3, 2021, reflect substantial growth in assets, revenue, and net income, supported by strong operating cash flow [Consolidated Condensed Balance Sheets](index=4&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) The balance sheet as of July 3, 2021, shows significant growth in total assets to $1.41 billion and shareholders' equity to $973.3 million Consolidated Condensed Balance Sheet Highlights (in thousands) | Balance Sheet Item | July 3, 2021 | October 3, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$1,409,861** | **$1,054,566** | | Cash and cash equivalents | $387,999 | $188,127 | | Accounts and other receivable, net | $369,346 | $198,640 | | Inventories, net | $153,325 | $111,809 | | Goodwill | $73,683 | $56,695 | | **Total Liabilities** | **$436,519** | **$296,572** | | Accounts payable | $144,269 | $57,688 | | **Total Shareholders' Equity** | **$973,342** | **$757,994** | [Consolidated Condensed Statements of Operations](index=5&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations) The company achieved substantial year-over-year growth in net revenue and net income for both the three and nine months ended July 3, 2021 Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended July 3, 2021 | Three Months Ended June 27, 2020 | Nine Months Ended July 3, 2021 | Nine Months Ended June 27, 2020 | | :--- | :--- | :--- | :--- | :--- | | Net revenue | $424,318 | $150,450 | $1,032,338 | $445,488 | | Gross profit | $195,695 | $69,423 | $465,671 | $209,090 | | Income from operations | $120,455 | $10,971 | $257,611 | $35,461 | | Net income | $113,766 | $11,151 | $233,450 | $36,516 | | Diluted EPS | $1.79 | $0.18 | $3.68 | $0.57 | [Consolidated Condensed Statements of Cash Flows](index=9&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) Operating activities generated $176.7 million in cash for the nine months ended July 3, 2021, significantly boosting cash and equivalents Cash Flow Summary (in thousands) | Cash Flow Activity | Nine Months Ended July 3, 2021 | Nine Months Ended June 27, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $176,656 | $62,681 | | Net cash provided by investing activities | $54,221 | $25,863 | | Net cash used in financing activities | ($31,982) | ($130,618) | | **Change in cash and cash equivalents** | **$199,872** | **($42,409)** | | Cash and cash equivalents at end of period | $387,999 | $321,775 | [Notes to Consolidated Condensed Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Condensed%20Financial%20Statements) Notes detail accounting policies, the Uniqarta acquisition, segment performance, and capital allocation activities - On January 19, 2021, the company acquired Uniqarta, Inc., a developer of laser transfer technology, for a purchase price of **$26.5 million** in cash, resulting in **$16.8 million** in goodwill and **$11.2 million** in intangible assets[77](index=77&type=chunk)[78](index=78&type=chunk)[80](index=80&type=chunk) Revenue and Operating Income by Segment (Nine Months Ended, in thousands) | Segment | Net Revenue (July 3, 2021) | Net Revenue (June 27, 2020) | Income from Operations (July 3, 2021) | Income from Operations (June 27, 2020) | | :--- | :--- | :--- | :--- | :--- | | Capital Equipment | $881,722 | $326,982 | $218,010 | $7,815 | | APS | $150,616 | $118,506 | $39,601 | $27,646 | | **Total** | **$1,032,338** | **$445,488** | **$257,611** | **$35,461** | - For the nine months ended July 3, 2021, the company repurchased **153.0 thousand shares** of common stock for **$6.4 million** and paid dividends totaling **$24.8 million**[125](index=125&type=chunk)[126](index=126&type=chunk) - ASE Technology Holding was a significant customer, accounting for **19.4% of total net revenue** for the nine months ended July 3, 2021[153](index=153&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses significant revenue growth from strong segment demand, increased operating expenses, and robust liquidity [Results of Operations](index=36&type=section&id=Results%20of%20Operations) Net revenue surged 131.7% to $1.03 billion for the nine months ended July 3, 2021, significantly increasing operating income Nine-Month Performance Comparison (in thousands) | Metric | Nine Months Ended July 3, 2021 | Nine Months Ended June 27, 2020 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | $1,032,338 | $445,488 | $586,850 | 131.7% | | Gross Profit | $465,671 | $209,090 | $256,581 | 122.7% | | Operating Expenses | $208,060 | $173,629 | $34,431 | 19.8% | | Income from Operations | $257,611 | $35,461 | $222,150 | 626.5% | - Capital Equipment revenue growth was driven by strong demand in the general semiconductor market (consumer applications, 5G), automotive, and LED markets[183](index=183&type=chunk) - The increase in SG&A expenses was primarily due to **$14.6 million** in higher staff costs (incentive compensation, headcount) and **$4.9 million** in higher professional services expenses[194](index=194&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains robust liquidity with $635.0 million in cash and short-term investments, sufficient for future requirements Cash and Short-Term Investments (in thousands) | Category | July 3, 2021 | October 3, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $387,999 | $188,127 | | Short-term investments | $247,000 | $342,000 | | **Total** | **$634,999** | **$530,127** | - The Board of Directors increased the share repurchase authorization to **$400 million** and extended it through August 1, 2022, with approximately **$135.7 million** remaining available under the program as of July 3, 2021[215](index=215&type=chunk) - The company declared and paid quarterly dividends of **$0.14 per share**, totaling **$24.8 million** for the nine months ended July 3, 2021[216](index=216&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=43&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company faces market risks from interest rates and foreign currency fluctuations, mitigated by hedging strategies - The company's primary market risks are **interest rate risk** and **foreign currency risk**[223](index=223&type=chunk)[224](index=224&type=chunk) - As of July 3, 2021, the company had foreign exchange forward contracts with a notional value of **$57.0 million** to hedge against foreign currency-denominated expenses[226](index=226&type=chunk) - A **10% fluctuation** in foreign currency exchange rates could impact the company's financial position, results, or cash flows by an estimated **$2.0 million to $3.0 million**[225](index=225&type=chunk) [Controls and Procedures](index=44&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of July 3, 2021, with no material changes to internal controls - The CEO and CFO concluded that as of July 3, 2021, the company's disclosure controls and procedures were **effective**[228](index=228&type=chunk) - There were no changes during the third quarter of fiscal 2021 that materially affected or are likely to materially affect the company's **internal control over financial reporting**[230](index=230&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=45&type=section&id=Item%201.%20LEGAL%20PROCEEDINGS) The company is involved in routine litigation, with management expecting no material adverse effect on its financial condition or results - The company is involved in routine litigation but does not expect any pending cases to have a **material adverse effect** on its financial condition or results[231](index=231&type=chunk) [Risk Factors](index=45&type=section&id=Item%201A.%20RISK%20FACTORS) No material changes to risk factors were reported compared to the 2020 Annual Report on Form 10-K - No material changes to risk factors were reported compared to the **2020 Annual Report on Form 10-K**[232](index=232&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=46&type=section&id=Item%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company repurchased 82 thousand shares for $4.1 million in Q3 FY2021 under its $400 million program, also issuing unregistered equity Share Repurchases (Q3 FY2021) | Period | Total Shares Repurchased (thousands) | Average Price Paid Per Share | | :--- | :--- | :--- | | April 4 - May 1, 2021 | 11 | $53.79 | | May 2 - June 5, 2021 | 63 | $48.43 | | June 6 - July 3, 2021 | 8 | $55.20 | | **Total for Quarter** | **82** | **N/A** | - The share repurchase program was increased to **$400 million** and extended through August 1, 2022, with **$135.7 million** remaining available for repurchases as of the end of the quarter[236](index=236&type=chunk) [Exhibits](index=47&type=section&id=Item%206.%20EXHIBITS) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and Inline XBRL data files

Financial Data and Key Metrics Changes - The company reported revenue of $424.3 million for the June quarter, representing a nearly 25% sequential increase [29] - Gross margins for the June quarter were 46.1%, with non-GAAP EPS of $1.87, up 48% sequentially [14][29] - Non-GAAP net income was $118.8 million, highlighting operational leverage [30] - The company anticipates revenue of approximately $465 million for the September quarter, marking a nearly 10% increase over the June quarter [34] Business Line Data and Key Metrics Changes - The General Semiconductor space is experiencing strong demand driven by the adoption of 5G and new connected devices [15][24] - Approximately 40% of capital equipment revenue came from advanced packages, indicating a significant shift in product mix [19] - Equipment sales into the LED market remained strong, with expectations for further increases in September [21] Market Data and Key Metrics Changes - The automotive and industrial market showed strong performance, driven by the need for semiconductors in electric vehicles and autonomous driving [24] - Memory market sales improved sharply, with June quarter sales above long-term averages [25] - The company expects continued strong demand in the semiconductor industry, with annual growth rates anticipated to exceed the historical average of 6.5% [11] Company Strategy and Development Direction - The company is focused on expanding market reach through aggressive R&D investments targeting automotive, electronics assembly, and display markets [8][10] - The long-term strategy includes supporting advanced display and packaging technologies, with expectations for sustainable revenue growth [12][35] - The company plans to leverage new product introductions to enhance profitability and market presence [20][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining a revenue level of $1.5 billion, supported by strong market demand and ongoing industry expansion [11][42] - The company is optimistic about the semiconductor market's growth trajectory, with expectations for continued demand driven by new applications [10][59] - Management noted that supply chain challenges are being effectively mitigated, allowing for increased production capacity [26][25] Other Important Information - The company ended the June quarter with a total net cash and investment position of $635 million, reflecting strong cash generation potential [32] - The effective tax rate is expected to be around 15% for fiscal 2021, with a long-term target of 18% [31] Q&A Session Summary Question: Future Revenue Levels - Management indicated that they expect to finish FY 2021 at $1.5 billion and anticipate similar revenue levels for FY 2022, with potential upside in the second half of FY 2022 due to ongoing chip shortages [41][42] Question: Sustainability of Gross Margins - Management believes that a gross margin of 47% is sustainable due to a favorable product mix and ongoing cost reduction efforts [46][47] Question: Demand and Capacity Outlook - Management acknowledged that current demand is strong and that the industry is still facing a shortage of equipment, which is expected to continue driving revenue [59][60] Question: Long-term Growth in Automotive and Advanced Packaging - Management highlighted significant growth opportunities in advanced packaging and automotive markets, projecting substantial revenue increases from these segments [70][71] Question: Share Buyback Strategy - Management is evaluating capital allocation strategies, including share repurchases, dividends, and investments in organic growth [88][90]

NASDAQ: KLIC Q3F21 Ended Jul 3, 2021 Quarterly Earnings Review August 5, 2021 Safe Harbor | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...