Kulicke & Soffa Reports Fourth Quarter 2024 Results

Core Insights - Kulicke and Soffa Industries, Inc. reported a fourth quarter net revenue of $181.3 million, a decrease of 10.4% compared to the same quarter in the previous year, and a net income of $12.1 million, down 48.1% year-over-year [1][2][5] Financial Performance - Fourth Quarter Fiscal 2024 Results - Net revenue: $181.3 million, down 10.4% from $202.3 million in Q4 2023 and down 0.2% from $181.7 million in Q3 2024 [2][5] - Gross margin: 48.3%, up 90 basis points year-over-year and up 170 basis points sequentially [2] - Net income: $12.1 million, down 48.1% from $23.4 million in Q4 2023 [2][5] - EPS (diluted): $0.22, down 46.3% from $0.41 in Q4 2023 [2][5] - Fiscal Year 2024 Highlights - Total net revenue: $706.2 million, down from $742.5 million in the previous fiscal year [4] - Gross margin: 38.1% [4] - Net loss: $69.0 million or $(1.24) per diluted share; non-GAAP net income of $1.6 million or $0.03 per diluted share [4] Operational Insights - The company is focusing on advanced packaging and assembly solutions, with expectations for increased demand in the semiconductor and automotive markets through fiscal year 2025 [3] - The transition to emerging chiplet and heterogeneous applications is expected to enhance performance and transistor density, positioning the company for market share gains [3] Cash Flow and Shareholder Actions - Cash from operations for Q4 was $31.6 million, with adjusted free cash flow of $29.2 million [5] - The company repurchased 1.0 million shares of common stock at a cost of $42.7 million during the fourth quarter [5] Outlook - For the first quarter of fiscal 2025, the company expects net revenue to be approximately $165 million, with GAAP diluted EPS projected at approximately $1.45 [6]