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Kulicke & Soffa Reports Fourth Quarter 2024 Results
KLICKulicke & Soffa(KLIC) Prnewswire·2024-11-13 21:05

Core Insights - Kulicke and Soffa Industries, Inc. reported a fourth quarter net revenue of 181.3million,adecreaseof10.4181.3 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: 181.3million,down10.4181.3 million, down 10.4% from 202.3 million in Q4 2023 and down 0.2% from 181.7millioninQ32024[2][5]−Grossmargin:48.3181.7 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 23.4millioninQ42023[2][5]−EPS(diluted):23.4 million in Q4 2023 [2][5] - EPS (diluted): 0.22, down 46.3% from 0.41inQ42023[2][5]−∗∗FiscalYear2024Highlights∗∗−Totalnetrevenue:0.41 in Q4 2023 [2][5] - **Fiscal Year 2024 Highlights** - Total net revenue: 706.2 million, down from 742.5millioninthepreviousfiscalyear[4]−Grossmargin:38.1742.5 million in the previous fiscal year [4] - Gross margin: 38.1% [4] - Net loss: 69.0 million or (1.24)perdilutedshare;non−GAAPnetincomeof(1.24) per diluted share; non-GAAP net income of 1.6 million or 0.03perdilutedshare[4]OperationalInsights−Thecompanyisfocusingonadvancedpackagingandassemblysolutions,withexpectationsforincreaseddemandinthesemiconductorandautomotivemarketsthroughfiscalyear2025[3]−Thetransitiontoemergingchipletandheterogeneousapplicationsisexpectedtoenhanceperformanceandtransistordensity,positioningthecompanyformarketsharegains[3]CashFlowandShareholderActions−CashfromoperationsforQ4was0.03 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 29.2million[5]−Thecompanyrepurchased1.0millionsharesofcommonstockatacostof29.2 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 165million,withGAAPdilutedEPSprojectedatapproximately165 million, with GAAP diluted EPS projected at approximately 1.45 [6]