SINGAPORE, April 18, 2024 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) ("Kulicke & Soffa", "K&S" or the "Company"), a global leader in the design and manufacture of semiconductor, LED and electronic assembly equipment, today announced that a conference call is scheduled to discuss the Company's second fiscal quarter 2024 financial results and its business outlook, on Thursday, May 2, 2024, at 8:00 am EDT. The Company will issue its second fiscal quarter 2024 financial results in the even ...

Financial Performance - Net revenue for the three months ended December 30, 2023, was $171,189 thousand, a decrease of $5,044 thousand or 2.9% compared to $176,233 thousand for the same period in 2022[149]. - Ball Bonding Equipment net revenue increased to $86,270 thousand, representing 50.4% of total net revenue, a significant increase of $32,621 thousand or 60.8% from $53,649 thousand in the prior year[151]. - Wedge Bonding Equipment net revenue decreased to $23,459 thousand, a decline of $31,197 thousand or 57.1% compared to $54,656 thousand in the previous year[151]. - Gross profit margin for the total decreased to 46.7% from 50.3%, a decline of 360 basis points year-over-year[156]. - Operating expenses increased to $78,203 thousand, up $1,319 thousand or 1.7% from $76,884 thousand in the prior year[161]. - Income from operations fell to $1,693 thousand, a decrease of $10,129 thousand or 85.7% compared to $11,822 thousand in the same period last year[164]. - Interest income increased to $9,899 thousand, up $3,340 thousand or 50.9% from $6,559 thousand in the prior year[168]. Cash and Investments - As of December 30, 2023, the total cash, cash equivalents, and short-term investments were $709.7 million, a decrease of $49.7 million from the prior fiscal year end[135]. - Cash and cash equivalents decreased to $424,660 thousand from $529,402 thousand, a decline of $104,742 thousand[171]. - Net cash used in operating activities was $(7,331) thousand, a significant decrease from $85,116 thousand in the prior year[172]. - Net cash used in investing activities was $(60,541) thousand, compared to $(38,914) thousand in the same period last year[172]. - The company expects fiscal 2024 capital expenditures to be between $23.0 million and $27.0 million, with $3.5 million incurred in the first quarter[179]. - As of December 30, 2023, the company held approximately $558.7 million in cash, cash equivalents, and short-term investments in foreign subsidiaries, with a significant portion available for use in the U.S.[180]. - The company anticipates funding operations and capital requirements primarily through cash on hand and cash generated from operating activities, which are deemed sufficient for the foreseeable future[181]. Market and Industry Conditions - Approximately 89.9% of net revenue for the three months ended December 30, 2023, was from shipments to customer locations outside of the U.S., primarily in the Asia/Pacific region[131]. - Shipments to customers headquartered in China accounted for approximately 46.2% of net revenue for the three months ended December 30, 2023[131]. - The semiconductor industry is experiencing significant inventory buildup due to declining consumer sentiment and inventory adjustments, leading to reduced order rates[144]. - The ongoing geopolitical tensions, including the Israel-Hamas war and the Ukraine/Russia conflict, have not materially impacted the company's financial condition in fiscal 2024 to date[146]. - The company anticipates that the semiconductor industry's long-term growth projections will normalize despite current short-term volatility[145]. - The semiconductor business environment remains highly volatile, influenced by both cyclical and seasonal dynamics as well as macroeconomic factors[128]. Operational Strategy - The APS reportable segment has historically been less volatile and is more directly tied to semiconductor unit consumption rather than production capability improvements[130]. - The company continues to focus on operational excellence and expanding product offerings through research and development and acquisitions[134]. - The company has maintained a strong balance sheet to mitigate potential adverse cyclical and macroeconomic effects on its financial position[135]. Shareholder Returns - The company repurchased approximately 555.6 thousand shares of common stock for about $26.8 million during the three months ended December 30, 2023[185]. - A quarterly dividend of $0.20 per share was declared on November 15, 2023, with total dividends paid during the three months amounting to $10.7 million[187]. Tax and Foreign Exchange - As of December 30, 2023, the company had deferred tax liabilities of $37.2 million and unrecognized tax benefits of $18.1 million related to uncertain tax positions[189]. - The company has foreign exchange forward contracts with a notional amount of $42.7 million outstanding as of December 30, 2023, to hedge against foreign currency risks[198].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 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. 000-00121 KULICKE AND SOFFA INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 23-1498399 (State or oth ...

Financial Data and Key Metrics Changes - The company generated $190.9 million in revenue for the June quarter, with a gross margin of 47.2% and non-GAAP EPS of $0.55, which was above prior expectations due to stringent cost control and discrete tax items [36][61] - Non-GAAP operating expenses were $66 million, lower than anticipated due to shifts in discretionary spending and ongoing cost controls [19][20] - Working capital days decreased from 517 to 465 days, primarily due to sequential improvement in revenue and relatively flat working capital [62] Business Line Data and Key Metrics Changes - Ball bonder equipment sales increased sequentially by 45%, largely due to increased utilization rates and stronger demand for the Rapid series [14] - The wedge bonder segment has seen strong demand, particularly driven by the semiconductor and electric vehicle markets, with wedge-related revenue more than doubling since 2020 [9][67] - The company shipped a record number of fluxless TCB systems and achieved record TCB revenue for the quarter [71] Market Data and Key Metrics Changes - 79% of total revenue stemmed from capital equipment, which improved by 13% sequentially, supported by utilization improvements in general semiconductor, LED, and memory end markets [14] - Utilization rates improved to around 70% from approximately 60% in previous quarters, with expectations for further increases [93] - The company anticipates nearly 10% semiconductor unit growth in calendar year 2024, with unit growth expected to remain above average in 2025 [6][39] Company Strategy and Development Direction - The company is focused on delivering new innovations that address long-term, technology-driven growth opportunities in both core and emerging equipment businesses [28] - Investments in development, engineering capabilities, and new market opportunities have enhanced the company's fundamental strength and solidified key pillars for long-term growth [16] - The company is actively engaged with multiple customers enabling technology transitions in automotive, semiconductor, and display opportunities [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing near and long-term improvements within core markets and execution across various end-market applications [18] - The company expects fiscal 2024 to be a better year than fiscal 2023, with the first half potentially not as strong as the second half [69][110] - Management noted that the macro environment remains dynamic, impacting visibility into future performance [66][69] Other Important Information - The company identified a material weakness over internal controls related to segment reporting, leading to the filing of an amended 10-K for fiscal year 2022, but noted no impact on reported amounts [3] - The company has a sizeable order backlog, roughly four times the size of the third quarter fiscal 2019 backlog, which is expected to reduce over the coming quarters [41] Q&A Session Summary Question: What is the expected performance of K&S given the 10% industry growth forecast for 2024? - Management believes that 2024 will be a better year than 2023, with growth initiatives and improved positioning in larger end markets contributing to performance [22][66] Question: What segments are showing improvement in revenue? - The ball bonder segment is showing significant improvement, with wedge bonder demand remaining strong [71] Question: Can you elaborate on the thermo-compression bonding market and the company's position? - The company has a strong TCB product portfolio and is focusing on high volume semiconductor applications, with expectations for significant growth by 2025 [72][77] Question: What are the current utilization rates? - Utilization rates are currently around 70%, up from approximately 60% in previous quarters, with expectations for further increases [93] Question: What is the company's strategy regarding share repurchases? - The company maintains an opportunistic approach to share repurchases, adjusting levels based on market conditions [115]

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 July 1, 2023 Pennsylvania 23-1498399 (State or other jurisdiction of incorporation) (IRS Employer Identification No.) 23A Serangoon North Avenue 5, #01-01, Singapore 554369 1005 Virginia Dr., Fort Washington, PA 19034 (Address of principal executive offices and Zip Code) OR TRANSITION REPORT PURSUANT TO SECT ...

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Q2 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Joe Elgindy - Senior Director, Investor Relations Fusen Chen - President and Chief Executive Officer Lester Wong - Chief Financial Officer Conference Call Participants Tom Diffely - D.A. Davidson Dave Duley - Steelhead Securities Krish Sankar - Cowen and Company Charles Shi - Needham and Company Tyler Burmeister - Craig-Hallum Operator Hello and welcome to the Kulicke & Soffa 2023 Se ...

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 1, 2023 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 Identification No.) 23A ...

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Q1 2023 Earnings Conference Call February 2, 2023 8:00 AM ET Company Participants Joe Elgindy - Senior Director, Investor Relations Fusen Chen - President and Chief Executive Officer Lester Wong - Chief Financial Officer Conference Call Participants Krish Sankar - Cowen Craig Ellis - B. Riley Charles Shi - Needham and Company David Duley - Steelhead Securities Hans Chung - D.A. Davidson Operator Hello, and welcome to the Kulicke & Soffa 2023 First Quarter Res ...

[PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS%20(Unaudited)) The company's Q1 FY2023 performance saw a significant decline in revenue and net income, driven by lower Capital Equipment volumes [Consolidated Condensed Balance Sheets](index=4&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) Total assets decreased slightly to $1.55 billion, driven by a drop in receivables partially offset by an increase in inventories Consolidated Condensed Balance Sheet Highlights (in thousands) | Account | Dec 31, 2022 | Oct 1, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $1,270,709 | $1,332,046 | | Accounts and other receivable, net | $200,337 | $309,323 | | Inventories, net | $211,637 | $184,986 | | **Total Assets** | **$1,549,818** | **$1,588,599** | | **Total Current Liabilities** | $221,055 | $248,681 | | **Total Liabilities** | **$372,589** | **$393,949** | | **Total Shareholders' Equity** | **$1,177,229** | **$1,194,650** | [Consolidated Condensed Statements of Operations](index=5&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations) Net revenue for Q1 FY2023 fell 61.8% to $176.2 million, with net income plummeting to $14.6 million from $133.6 million YoY Statement of Operations Summary (in thousands, except per share data) | Metric | Three months ended Dec 31, 2022 | Three months ended Jan 1, 2022 | | :--- | :--- | :--- | | Net revenue | $176,233 | $460,888 | | Gross profit | $88,706 | $223,238 | | Income from operations | $11,822 | $151,110 | | Net income | $14,589 | $133,606 | | Diluted EPS | $0.25 | $2.11 | [Consolidated Condensed Statements of Cash Flows](index=8&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) Operating cash flow was $85.1 million, while significant cash was used for share repurchases and dividend payments Cash Flow Summary (in thousands) | Activity | Three months ended Dec 31, 2022 | Three months ended Jan 1, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $85,116 | $95,874 | | Net cash (used in)/provided by investing activities | ($38,914) | $7,289 | | Net cash used in financing activities | ($56,230) | ($24,077) | | **Change in cash and cash equivalents** | **($4,924)** | **$78,702** | [Notes to Consolidated Condensed Financial Statements](index=9&type=section&id=Notes%20to%20Consolidated%20Condensed%20Financial%20Statements) Notes detail a 66.9% decline in Capital Equipment revenue, an increased share repurchase program, and a higher effective tax rate - The semiconductor industry is highly volatile, and **downturns have previously adversely affected the Company's operating results**[25](index=25&type=chunk) - The annual goodwill impairment test in Q4 fiscal 2022 concluded that **no impairment charge was required**, and no triggering events were identified in the quarter ended Dec 31, 2022[39](index=39&type=chunk)[40](index=40&type=chunk) - The Board of Directors **increased the share repurchase authorization to $800 million**, with approximately **$203.8 million remaining available** as of Dec 31, 2022[75](index=75&type=chunk)[77](index=77&type=chunk) - The **effective tax rate for the quarter was 20.5%**, an increase from 11.8% in the prior year period, primarily due to the impact of mandatory capitalization of R&D expenditures[93](index=93&type=chunk) - For the quarter ended Dec 31, 2022, two customers, **STMicroelectronics N.V. (12.8%) and First Technology China Ltd. (11.2%)**, each represented more than 10% of total net revenue[106](index=106&type=chunk) Segment Net Revenue (in thousands) | Segment | Three months ended Dec 31, 2022 | Three months ended Jan 1, 2022 | | :--- | :--- | :--- | | Capital Equipment | $135,372 | $408,528 | | APS | $40,861 | $52,360 | | **Total** | **$176,233** | **$460,888** | Segment Income from Operations (in thousands) | Segment | Three months ended Dec 31, 2022 | Three months ended Jan 1, 2022 | | :--- | :--- | :--- | | Capital Equipment | $3,872 | $132,019 | | APS | $7,950 | $19,091 | | **Total** | **$11,822** | **$151,110** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management attributes the 61.8% revenue decline to lower volumes, though gross margin improved due to a favorable product mix [Overview](index=28&type=section&id=OVERVIEW) The company operates in a volatile semiconductor market with significant revenue concentration in the Asia/Pacific region - The company operates two reportable segments: **Capital Equipment and Aftermarket Products and Services (APS)**[115](index=115&type=chunk) - Shipments to customers headquartered in China accounted for **32.8% of net revenue** for the three months ended December 31, 2022, down from 61.8% in the prior year period[118](index=118&type=chunk) - The company's total cash, cash equivalents, and short-term investments were **$795.6 million** as of December 31, 2022, which management believes is sufficient for future investments[123](index=123&type=chunk) [Results of Operations](index=31&type=section&id=RESULTS%20OF%20OPERATIONS) Net revenue fell 61.8% YoY due to lower volumes, while gross margin improved to 50.3% and operating expenses rose 6.6% - The decrease in Capital Equipment revenue was due to **lower volume from reduced customer investments**, partially offset by favorable pricing from a better customer mix[133](index=133&type=chunk) - The decrease in APS revenue was due to **lower volume in spares, services, and bonding tools**, resulting from decreased customer utilization[134](index=134&type=chunk) Quarterly Results of Operations (in thousands) | Metric | Q1 FY2023 | Q1 FY2022 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Net revenue | $176,233 | $460,888 | $(284,655) | (61.8)% | | Gross profit | $88,706 | $223,238 | $(134,532) | (60.3)% | | Operating expenses | $76,884 | $72,128 | $4,756 | 6.6% | | Income from operations | $11,822 | $151,110 | $(139,288) | (92.2)% | Gross Profit Margin by Segment | Segment | Dec 31, 2022 | Jan 1, 2022 | Basis Point Change | | :--- | :--- | :--- | :--- | | Capital Equipment | 48.8% | 46.9% | 190 | | APS | 55.3% | 60.4% | (510) | | **Total** | **50.3%** | **48.4%** | **190** | [Liquidity and Capital Resources](index=33&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company maintains strong liquidity with $795.6 million in cash and investments, funding operations and capital returns - Net cash from operating activities was **$85.1 million**, driven by net income and a **$108.8 million decrease in accounts receivable**[147](index=147&type=chunk)[148](index=148&type=chunk) - Net cash used in financing activities totaled **$56.2 million**, consisting mainly of **$46.3 million for common stock repurchases** and **$9.7 million for dividend payments**[147](index=147&type=chunk)[150](index=150&type=chunk) - Projected capital expenditures for fiscal 2023 are between **$70.0 million and $74.0 million**[154](index=154&type=chunk) - During the quarter, the company repurchased approximately **1,054.3 thousand shares for $45.4 million**, with **$203.8 million remaining** under the repurchase program[159](index=159&type=chunk)[160](index=160&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company is primarily exposed to foreign currency and interest rate risks, managed through hedging instruments - A **10.0% fluctuation in foreign currency exchange rates** could impact financial results by **$4.0 million to $5.0 million**[170](index=170&type=chunk) - As of December 31, 2022, the company had outstanding foreign exchange forward contracts with a notional amount of **$47.4 million** to hedge against currency risks[171](index=171&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - The CEO and CFO concluded that as of December 31, 2022, the company's **disclosure controls and procedures were effective**[173](index=173&type=chunk) - **No changes in internal control over financial reporting** were identified during the quarter that would have a material effect[175](index=175&type=chunk) [PART II - OTHER INFORMATION](index=39&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) [Legal Proceedings](index=39&type=section&id=Item%201.%20LEGAL%20PROCEEDINGS) The company is involved in routine litigation not expected to have a material adverse effect on its business - The company **does not expect any currently pending legal matters to have a material adverse effect** on its financial condition or operating results[177](index=177&type=chunk) [Risk Factors](index=39&type=section&id=Item%201A.%20RISK%20FACTORS) No material changes to risk factors have been reported since the company's last Annual Report on Form 10-K - **No material changes to risk factors** were reported since the last Annual Report on Form 10-K[178](index=178&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company repurchased 1.054 million shares for $45.4 million under its expanded $800 million buyback program Share Repurchases for the three months ended December 31, 2022 | Period | Total Shares Repurchased (thousands) | Average Price Paid Per Share | Approximate Dollar Value of Shares Remaining for Purchase ($ millions) | | :--- | :--- | :--- | :--- | | Oct 2 - Oct 29, 2022 | 450 | $39.94 | $231.2 | | Oct 30 - Dec 3, 2022 | 469 | $45.20 | $210.0 | | Dec 4 - Dec 31, 2022 | 135 | $45.89 | $203.8 | | **Total** | **1,054** | **-** | **$203.8** | [Exhibits](index=40&type=section&id=Item%206.%20EXHIBITS) This section lists all exhibits filed with the Form 10-Q, including required CEO and CFO certifications

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Q4 2022 Earnings Conference Call November 17, 2022 8:00 AM ET Company Participants Joseph Elgindy - Senior Director, Investor Relations Fusen Chen - President & Chief Executive Officer Lester Wong - Executive Vice President, Finance and IT and Chief Financial Officer Conference Call Participants Krish Sankar - Cowen and Company David Duley - Steelhead Securities Craig Ellis - B. Riley Charles Shi - Needham Operator Greeting and welcome to the Kulicke & Soffa ...