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Kulicke & Soffa(KLIC) - 2025 Q1 - Quarterly Results
KLICKulicke & Soffa(KLIC)2025-02-04 21:05

Financial Performance - First quarter net revenue was 166.1million,down3166.1 million, down 3% year-over-year and down 8.4% from the previous quarter[3] - Net income for the first quarter was 81.6 million, representing an increase of 778.5% year-over-year and 573.8% quarter-over-quarter[3] - Diluted EPS for the first quarter was 1.51,up843.81.51, up 843.8% compared to the same quarter last year and up 586.4% from the previous quarter[3] - Non-GAAP net income for the first quarter was 20.2 million, up 19.1% year-over-year and 9.2% quarter-over-quarter[5] - U.S. GAAP net income for the same period was 81.642million,significantlyupfrom81.642 million, significantly up from 9.293 million year-over-year[24] - Non-GAAP net income for the three months ended December 28, 2024, was 20.220million,comparedto20.220 million, compared to 16.981 million in the prior year[24] Margins - Gross margin improved to 52.4%, up 570 basis points year-over-year and 410 basis points from the previous quarter[3] - The company reported a U.S. GAAP operating margin of 52.2% for the latest quarter, a substantial increase from 1.0% in the same quarter last year[23] - Non-GAAP operating margin improved to 11.4% from 6.4% year-over-year[23] Cash and Investments - Cash, cash equivalents, and short-term investments totaled 538.3millionasofDecember28,2024[11]−Cashandcashequivalentsattheendoftheperiodwere538.3 million as of December 28, 2024[11] - Cash and cash equivalents at the end of the period were 278.325 million, down from 424.660millionattheendofthepreviousyear[21]−Thecompanygenerated424.660 million at the end of the previous year[21] - The company generated 18.902 million in net cash from operating activities, a recovery from a cash outflow of 7.331millioninthesamequarterlastyear[21]−Non−GAAPadjustedfreecashflowforthequarterwas7.331 million in the same quarter last year[21] - Non-GAAP adjusted free cash flow for the quarter was 8.700 million, compared to a negative 11.757millionintheprioryear[26]ShareRepurchase−Thecompanyrepurchased0.8millionsharesofcommonstockatacostof11.757 million in the prior year[26] Share Repurchase - The company repurchased 0.8 million shares of common stock at a cost of 36.9 million during the quarter[11] Future Guidance - The company expects second quarter net revenue to be approximately 165million,withGAAPdilutedEPSaround165 million, with GAAP diluted EPS around 0.03 and non-GAAP diluted EPS approximately 0.19[8]−Thecompanyexpectsnetrevenueforthesecondquarteroffiscal2025tobeapproximately0.19[8] - The company expects net revenue for the second quarter of fiscal 2025 to be approximately 165 million, with a potential variance of +/- 10million[28]−DilutedEPSguidanceforthesecondquarteroffiscal2025isprojectedat10 million[28] - Diluted EPS guidance for the second quarter of fiscal 2025 is projected at 0.03, with non-GAAP adjustments leading to a non-GAAP EPS of $0.19[28] Market Outlook - Management anticipates gradual improvement in core-market demand and ongoing market adoption of advanced packaging solutions[6] - The company is focused on developing new systems and features in the Ball, Wedge, and Advanced Solutions segments[6]