Focuses on Operational Efficiency; Increases
Repurchase Activity
SINGAPORE, May 1, 2024
/PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC)
("Kulicke & Soffa," "K&S," "our," or the "Company"), today
announced financial results of its second fiscal quarter ended
March 30, 2024. The Company reported second quarter net
revenue of $172.1 million, net loss
of $102.7 million, representing EPS
of $(1.83) per fully diluted share,
and non-GAAP net loss of $53.2
million, representing non-GAAP EPS of $(0.95) per fully diluted share.
As announced on March 11, 2024,
the Company had anticipated pre-tax charges, including impairments,
relating to the cancellation of Project W (the "Project"), to be in
the range of $110 million and
$130 million (the "Expected Range")
and to be incurred primarily in the second fiscal quarter 2024.
Based on the actual second fiscal quarter 2024 financial results,
the pre-tax charges, including impairments, were below the Expected
Range at $105.5 million.
|
Quarterly Results -
U.S. GAAP
|
|
Fiscal Q2
2024
|
Change
vs.
Fiscal Q2
2023
|
Change
vs.
Fiscal Q1
2024
|
|
Net Revenue
|
$172.1
million
|
down 0.5%
|
up 0.5%
|
|
Gross Margin
|
9.6 %
|
down 3900
bps
|
down 3710
bps
|
|
Loss from
Operations
|
$(105.2)
million
|
down 932.6%
|
down 6311.2%
|
|
Operating
Margin
|
(61.1) %
|
down 6840
bps
|
down 6210
bps
|
|
Net Loss
|
$(102.7)
million
|
down 782.7%
|
down 1204.9%
|
|
Net Margin
|
(59.7) %
|
down 6840
bps
|
down 6510
bps
|
|
EPS –
Diluted
|
$(1.83)
|
down 803.8%
|
down 1243.8%
|
|
Quarterly Results -
Non-GAAP
|
|
Fiscal Q2
2024
|
Change
vs.
Fiscal Q2
2023
|
Change
vs.
Fiscal Q1
2024
|
|
Loss from
Operations
|
$(50.2)
million
|
down 345.9%
|
down 560.5%
|
|
Operating
Margin
|
(29.2) %
|
down 4100
bps
|
down 3560
bps
|
|
Net Loss
|
$(53.2)
million
|
down 342.8%
|
down 413.6%
|
|
Net Margin
|
(30.9) %
|
down 4360
bps
|
down 4080
bps
|
|
EPS –
Diluted
|
$(0.95)
|
down 350%
|
down 416.7%
|
A reconciliation between the GAAP and non-GAAP adjusted
results is provided in the financial tables included at the end of
this press release. See also the "Use of non-GAAP Financial
Results" section of this press release.
Fusen Chen, Kulicke & Soffa's
President and Chief Executive Officer, stated, "Despite a shifting
Advanced Display market, we remain nimble and efficiency focused.
We are preparing for broader Ball Bonder demand recovery and have
reallocated Advanced Display resources to support growing demand
and activity within Thermocompression and Advanced Dispense. We
look forward to achieve new customer and market adoption milestones
over the coming quarters."
During its recently completed quarter, the Company's Ball Bonder
revenue has grown by more than 50% over the same period in the
prior fiscal year. K&S is preparing to further ramp its Ball
Bonder supply chain and production activities, in support of
General Semiconductor recovery, which includes fulfilling a
sizeable order from a fast-growing Assembly and Test customer of
1,000 RAPID™ Pro systems, as announced earlier today.
Second Quarter Fiscal 2024 Financial Highlights
- Net revenue of $172.1
million.
- Gross margin of 9.6%.
- Gross margin includes a one-time charge of $57.3 million of certain inventory write down
adjustments and purchase order cancellation charges of $2.8 million, substantially due to, and as
previously anticipated by, the cancellation of Project W.
- Net loss of $102.7 million or
$(1.83) per share; non-GAAP net loss
of $53.2 million or $(0.95) per fully diluted share.
- In addition to the inventory write-down adjustments, net loss
also includes a one-time impairment charge of $44.5 million on long-lived assets related to the
cancellation of Project W and employee termination benefits of
$2.9 million.
- GAAP cash flow from operations of $(20.1) million; Adjusted free cash flow of
$(26.7) million.
- Cash, cash equivalents, and short-term investments were
$634.7 million as of March 30, 2024.
- The Company repurchased a total of 0.8 million shares of common
stock at a cost of $37.3
million.
Third Quarter Fiscal 2024 Outlook
K&S currently expects net revenue in the third quarter of
fiscal 2024 ending June 29, 2024 to
be approximately $180 million +/-
$10 million, GAAP diluted EPS to be
approximately $0.17 +/- 10%, and
non-GAAP diluted EPS to be approximately $0.30 +/- 10%.
A reconciliation between the GAAP and non-GAAP financial
outlook is provided in the financial tables included at the end of
this press release.
Earnings Conference Webcast
A webcast to discuss these results will be held on May 2, 2024, beginning at 8:00 am EDT. The
live webcast link, supplemental earnings presentation, and archived
webcast will be available at investor.kns.com. To
access the audio-only portion of the live webcast, parties may call
+1-877-407-8037, or internationally, +1-201-689-8037.
An audio-only replay of the webcast will also be available
approximately one hour after the completion of the live call by
calling +1-877-660-6853, or internationally, +1-201-612-7415 and
referencing access code 13743539.
Use of Non-GAAP Financial Results
In addition to U.S. GAAP ("GAAP") results, this press release
also contains the following non-GAAP financial results: income from
operations, operating margin, net income, net margin, net income
per fully diluted share and adjusted free cash flow. The Company's
non-GAAP results exclude amortization related to intangible assets
acquired through business combinations, costs associated with
restructuring and severance, equity-based compensation, acquisition
and integration costs, impairment relating to assets acquired
through business combinations, long-lived asset impairment relating
to business cessation or disposal, impairment relating to equity
investments, income tax expense/benefit arising from discrete tax
items triggered by acquisition, disposal of business (both via a
sale or an abandonment), restructuring and significant changes in
tax laws, gain/loss on disposal of business, as well as tax
benefits or expenses associated with the foregoing non-GAAP items.
The non-GAAP adjustments may or may not be infrequent or
nonrecurring in nature, but are a result of periodic or non-core
operating activities. These non-GAAP measures are consistent with
the way management analyzes and assesses the Company's operating
results. The Company believes these non-GAAP measures enhance
investors' understanding of the Company's underlying operational
performance, as well as their ability to compare the Company's
period-to-period financial results and the Company's overall
performance to that of its competitors.
Management uses both GAAP metrics as well as these non-GAAP
metrics to evaluate the Company's operating and financial results.
Non-GAAP financial measures may not provide information that is
directly comparable to that provided by other companies in the
Company's industry, as other companies in the industry may
calculate non-GAAP financial results differently. In addition,
there are limitations in using non-GAAP financial measures because
the non-GAAP financial measures are not prepared in accordance with
GAAP, may be different from non-GAAP financial measures used by
other companies and exclude expenses that may have a material
impact on the Company's reported financial results. The
presentation of non-GAAP items is meant to supplement, but not
substitute for, GAAP financial measures or information. The Company
believes the presentation of non-GAAP results in combination with
GAAP results provides better transparency to the investment
community when analyzing business trends, providing meaningful
comparisons with prior period performance and enhancing investors'
ability to view the Company's results from management's
perspective. A reconciliation of each non-GAAP financial measure to
the most directly comparable GAAP measure discussed in this press
release is contained in the financial tables at the end of this
press release.
About Kulicke & Soffa
Founded in 1951, Kulicke & Soffa specializes in
developing cutting-edge semiconductor and electronics assembly
solutions enabling a smart and more sustainable future. Our
ever-growing range of products and services supports growth and
facilitates technology transitions across large-scale markets, such
as advanced display, automotive, communications, compute, consumer,
data storage, energy storage and industrial.
Caution Concerning Results, Forward-Looking Statements and
Certain Risks Related to our Business
In addition to historical statements, this press release
contains statements relating to future events and our future
results. These statements are "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995. While these forward-looking statements represent our
judgments and future expectations concerning our business,
including the importance and competitiveness of our advanced
display products and other emerging technology transitions, a
number of risks, uncertainties and other important factors could
cause actual developments and results to differ materially from our
expectations. These factors include, but are not limited to, the
continued review of the impact of the cancellation of the Project
on our business, our ability to repurpose assets deployed or
developed for the Project to other parts of our business, our
ability to seek potential recourse, claims and remedies arising
from the cancellation of the Project, the persistent macroeconomic
headwinds on our business, actual or potential inflationary
pressures, interest rate and risk premium adjustments, falling
customer sentiment, or economic recession caused directly or
indirectly by geopolitical tensions, our ability to develop,
manufacture and gain market acceptance of new products, our ability
to operate our business in accordance with our business plan and
the other factors listed or discussed in our Annual Report on Form
10-K for the fiscal year ended September 30,
2023, filed on November 16,
2023, and our other filings with the Securities and Exchange
Commission. Kulicke and Soffa Industries, Inc. is under no
obligation to (and expressly disclaims any obligation to) update or
alter its forward-looking statements whether as a result of new
information, future events or otherwise.
Contact:
Kulicke and Soffa Industries, Inc.
Joseph Elgindy
Finance
P: +1-215-784-7518
|
KULICKE AND SOFFA
INDUSTRIES, INC.
CONSOLIDATED
CONDENSED STATEMENTS OF OPERATIONS
(In thousands,
except per share and employee data)
(Unaudited)
|
|
|
Three months
ended
|
|
Six months
ended
|
|
March 30,
2024
|
|
April 1,
2023
|
|
March 30,
2024
|
|
April 1,
2023
|
|
Net revenue
|
$
172,074
|
|
$
173,021
|
|
$
343,263
|
|
$
349,254
|
|
Cost of
sales
|
155,603
|
|
88,929
|
|
246,896
|
|
176,456
|
|
Gross profit
|
16,471
|
|
84,092
|
|
96,367
|
|
172,798
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
35,185
|
|
33,063
|
|
75,231
|
|
73,563
|
|
Research and
development
|
37,704
|
|
35,999
|
|
74,514
|
|
70,507
|
|
Impairment
charges
|
44,472
|
|
—
|
|
44,472
|
|
—
|
|
Amortization of
intangible assets
|
1,325
|
|
1,563
|
|
2,672
|
|
2,957
|
|
Acquisition-related
costs
|
—
|
|
334
|
|
—
|
|
441
|
|
Restructuring
|
2,940
|
|
504
|
|
2,940
|
|
879
|
|
Total operating
expenses
|
121,626
|
|
71,463
|
|
199,829
|
|
148,347
|
|
(Loss) / Income from
operations
|
(105,155)
|
|
12,629
|
|
(103,462)
|
|
24,451
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Interest
income
|
8,848
|
|
8,000
|
|
18,747
|
|
14,559
|
|
Interest
expense
|
(18)
|
|
(32)
|
|
(40)
|
|
(66)
|
|
(Loss) / Income before
income taxes
|
(96,325)
|
|
20,597
|
|
(84,755)
|
|
38,944
|
|
Income tax
expense
|
6,355
|
|
5,556
|
|
8,632
|
|
9,314
|
|
Net (loss) /
income
|
$
(102,680)
|
|
$
15,041
|
|
$
(93,387)
|
|
$
29,630
|
|
|
|
|
|
|
|
|
|
Net (loss) / income per
share:
|
|
|
|
|
|
|
|
|
Basic
|
$
(1.83)
|
|
$
0.27
|
|
$
(1.66)
|
|
$
0.52
|
|
Diluted
|
$
(1.83)
|
|
$
0.26
|
|
$
(1.66)
|
|
$
0.51
|
|
|
|
|
|
|
|
|
|
Cash dividends declared
per share
|
$
0.20
|
|
$
0.19
|
|
$
0.40
|
|
$
0.38
|
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
56,154
|
|
56,684
|
|
56,402
|
|
56,868
|
|
Diluted
|
56,154
|
|
57,577
|
|
56,402
|
|
57,739
|
|
Three months
ended
|
|
Six months
ended
|
|
Supplemental
financial data:
|
March 30,
2024
|
|
April 1,
2023
|
|
March 30,
2024
|
|
April 1,
2023
|
|
Depreciation and
amortization
|
$
6,967
|
|
$
6,542
|
|
$
14,952
|
|
$
12,155
|
|
Capital
expenditures
|
3,846
|
|
17,383
|
|
7,379
|
|
33,034
|
|
Equity-based
compensation expense:
|
|
|
|
|
|
|
|
|
Cost of
sales
|
363
|
|
323
|
|
722
|
|
631
|
|
Selling, general and
administrative
|
4,103
|
|
3,731
|
|
9,783
|
|
8,598
|
|
Research and
development
|
1,766
|
|
1,325
|
|
3,584
|
|
2,671
|
|
Total equity-based
compensation expense
|
$
6,232
|
|
$
5,379
|
|
$
14,089
|
|
$
11,900
|
|
As of
|
|
March 30,
2024
|
|
April 1,
2023
|
|
Number of
employees
|
2,925
|
|
3,089
|
|
KULICKE AND SOFFA
INDUSTRIES, INC.
CONSOLIDATED
CONDENSED BALANCE SHEETS
(In
thousands)
(Unaudited)
|
|
|
As of
|
|
March 30,
2024
|
|
September 30,
2023
|
|
ASSETS
|
|
CURRENT
ASSETS
|
|
|
|
|
Cash and cash
equivalents
|
$
359,748
|
|
$
529,402
|
|
Short-term
investments
|
275,000
|
|
230,000
|
|
Accounts and other
receivable, net of allowance for doubtful accounts of $49 and $49,
respectively
|
194,819
|
|
158,601
|
|
Inventories,
net
|
180,541
|
|
217,304
|
|
Prepaid expenses and
other current assets
|
40,309
|
|
53,751
|
|
TOTAL CURRENT
ASSETS
|
1,050,417
|
|
1,189,058
|
|
|
|
|
|
Property, plant and
equipment, net
|
65,003
|
|
110,051
|
|
Operating right-of-use
assets
|
36,653
|
|
47,148
|
|
Goodwill
|
89,082
|
|
88,673
|
|
Intangible assets,
net
|
27,139
|
|
29,357
|
|
Deferred tax
assets
|
18,101
|
|
31,551
|
|
Equity
investments
|
2,254
|
|
716
|
|
Other assets
|
10,058
|
|
3,223
|
|
TOTAL
ASSETS
|
$
1,298,707
|
|
$
1,499,777
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
CURRENT
LIABILITIES
|
|
|
|
|
Accounts
payable
|
51,487
|
|
49,302
|
|
Operating lease
liabilities
|
7,021
|
|
6,574
|
|
Accrued expenses and
other current liabilities
|
90,126
|
|
103,005
|
|
Income taxes
payable
|
17,102
|
|
22,670
|
|
TOTAL CURRENT
LIABILITIES
|
165,736
|
|
181,551
|
|
|
|
|
|
Deferred tax
liabilities
|
36,377
|
|
37,264
|
|
Income taxes
payable
|
36,647
|
|
52,793
|
|
Operating lease
liabilities
|
34,307
|
|
41,839
|
|
Other
liabilities
|
13,463
|
|
11,769
|
|
TOTAL
LIABILITIES
|
286,530
|
|
325,216
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
Common stock, no par
value
|
584,626
|
|
577,727
|
|
Treasury stock, at
cost
|
(794,193)
|
|
(737,214)
|
|
Retained
earnings
|
1,239,956
|
|
1,355,810
|
|
Accumulated other
comprehensive loss
|
(18,212)
|
|
(21,762)
|
|
TOTAL SHAREHOLDERS'
EQUITY
|
$
1,012,177
|
|
$
1,174,561
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
$
1,298,707
|
|
$
1,499,777
|
|
KULICKE AND SOFFA
INDUSTRIES, INC.
CONSOLIDATED
CONDENSED STATEMENTS OF CASH FLOWS
(In
thousands)
(Unaudited)
|
|
|
Three months
ended
|
|
Six months
ended
|
|
March 30,
2024
|
|
April 1,
2023
|
|
March 30,
2024
|
|
April 1,
2023
|
|
Net cash (used
in)/provided by operating activities
|
$
(20,148)
|
|
$
1,820
|
|
$
(27,479)
|
|
$
86,936
|
|
Net cash provided by/
(used in) investing activities
|
3,429
|
|
(147,283)
|
|
(57,112)
|
|
(186,197)
|
|
Net cash used in
financing activities
|
(47,672)
|
|
(16,681)
|
|
(85,796)
|
|
(72,911)
|
|
Effect of exchange rate
changes on cash and cash equivalents
|
(521)
|
|
633
|
|
733
|
|
5,737
|
|
Changes in cash and
cash equivalents
|
(64,912)
|
|
(161,511)
|
|
(169,654)
|
|
(166,435)
|
|
Cash and cash
equivalents, beginning of period
|
424,660
|
|
550,613
|
|
529,402
|
|
555,537
|
|
Cash and cash
equivalents, end of period
|
$
359,748
|
|
$
389,102
|
|
$
359,748
|
|
$
389,102
|
|
|
|
|
|
|
|
|
|
Short-term
investments
|
275,000
|
|
345,000
|
|
275,000
|
|
345,000
|
|
Total cash, cash
equivalents and short-term investments
|
$
634,748
|
|
$
734,102
|
|
$
634,748
|
|
$
734,102
|
|
Reconciliation of
U.S. GAAP
to Non-GAAP Income
from Operations and Operating Margin
(In thousands,
except percentages)
(Unaudited)
|
|
|
|
Three months
ended
|
|
|
March 30,
2024
|
|
April 1,
2023
|
|
December 30,
2023
|
|
Net revenue
|
|
$
172,074
|
|
$
173,021
|
|
$
171,189
|
|
U.S. GAAP income from
operations
|
|
(105,155)
|
|
12,629
|
|
1,693
|
|
U.S. GAAP operating
margin
|
|
(61.1) %
|
|
7.3 %
|
|
1.0 %
|
|
|
|
|
|
|
|
|
Pre-tax non-GAAP
items:
|
|
|
|
|
|
|
|
Amortization related to
intangible assets
|
|
1,325
|
|
1,563
|
|
1,347
|
|
Restructuring and
severance
|
|
2,940
|
|
504
|
|
—
|
|
Equity-based
compensation
|
|
6,232
|
|
5,379
|
|
7,857
|
|
Impairment
charges
|
|
44,472
|
|
—
|
|
—
|
|
Acquisition-related
costs
|
|
—
|
|
334
|
|
—
|
|
Non-GAAP income from
operations
|
|
$
(50,186)
|
|
$
20,409
|
|
$
10,897
|
|
Non-GAAP operating
margin
|
|
(29.2) %
|
|
11.8 %
|
|
6.4 %
|
|
Reconciliation of
U.S. GAAP Net Income to Non-GAAP Net Income and Non-GAAP Net Margin
and
U.S. GAAP net income
per share to Non-GAAP net income per share
(In thousands,
except percentages and per share data)
(Unaudited)
|
|
|
|
Three months
ended
|
|
|
March 30,
2024
|
|
April 1,
2023
|
|
December 30,
2023
|
|
Net revenue
|
|
$
172,074
|
|
$
173,021
|
|
$
171,189
|
|
U.S. GAAP net (loss) /
income
|
|
(102,680)
|
|
15,041
|
|
9,293
|
|
U.S. GAAP net
margin
|
|
(59.7) %
|
|
8.7 %
|
|
5.4 %
|
|
|
|
|
|
|
|
|
Non-GAAP
adjustments:
|
|
|
|
|
|
|
|
Amortization related to
intangible assets
|
|
1,325
|
|
1,563
|
|
1,347
|
|
Restructuring and
severance
|
|
2,940
|
|
504
|
|
—
|
|
Equity-based
compensation
|
|
6,232
|
|
5,379
|
|
7,857
|
|
Impairment
charges
|
|
44,472
|
|
—
|
|
—
|
|
Acquisition-related
costs
|
|
—
|
|
334
|
|
—
|
|
Net income tax benefit
on non-GAAP items
|
|
(5,534)
|
|
(892)
|
|
(1,516)
|
|
Total non-GAAP
adjustments
|
|
$
49,435
|
|
$
6,888
|
|
$
7,688
|
|
Non-GAAP net (loss) /
income
|
|
$
(53,245)
|
|
$
21,929
|
|
$
16,981
|
|
Non-GAAP net
margin
|
|
(30.9) %
|
|
12.7 %
|
|
9.9 %
|
|
|
|
|
|
|
|
|
U.S. GAAP net (loss) /
income per share:
|
|
|
|
|
|
|
|
Basic
|
|
(1.83)
|
|
0.27
|
|
0.16
|
|
Diluted(a)
|
|
(1.83)
|
|
0.26
|
|
0.16
|
|
|
|
|
|
|
|
|
Non-GAAP adjustments
per share:(b)
|
|
|
|
|
|
|
|
Basic
|
|
0.88
|
|
0.12
|
|
0.14
|
|
Diluted
|
|
0.88
|
|
0.12
|
|
0.14
|
|
|
|
|
|
|
|
|
Non-GAAP net (loss) /
income per share:
|
|
|
|
|
|
|
|
Basic
|
|
$
(0.95)
|
|
$
0.39
|
|
$
0.30
|
|
Diluted(c)
|
|
$
(0.95)
|
|
$
0.38
|
|
$
0.30
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding:
|
|
|
|
|
|
|
|
Basic
|
|
56,154
|
|
56,684
|
|
56,650
|
|
Diluted
|
|
56,154
|
|
57,577
|
|
57,023
|
|
(a)
|
GAAP diluted net
earnings per share reflects any dilutive effect of outstanding
restricted stock, but that effect is excluded when calculating GAAP
diluted net loss per share because it would be
anti-dilutive.
|
|
(b)
|
Non-GAAP adjustments
per share include amortization related to intangible assets
acquired through business combinations, costs associated with
restructuring and severance, acquisition and integration costs,
equity-based compensation expenses, long-lived asset impairment
relating to business cessation or disposal, and income tax effects
associated with the foregoing non-GAAP items.
|
|
(c)
|
Non-GAAP diluted net
earnings per share reflects any dilutive effect of outstanding
restricted stock.
|
|
Reconciliation of
U.S. GAAP Cash provided by Operating Activities
to Non-GAAP Adjusted
Free Cash Flow
(In thousands,
except percentages)
(unaudited)
|
|
|
|
Three months
ended
|
|
|
March 30,
2024
|
|
April 1,
2023
|
|
December 30,
2023
|
|
U.S. GAAP net cash
(used in)/provided by operating activities
|
|
$
(20,148)
|
|
$
1,820
|
|
$
(7,331)
|
|
Expenditures for
property, plant and equipment
|
|
(6,571)
|
|
(10,637)
|
|
(4,426)
|
|
Proceeds from sales of
property, plant and equipment
|
|
—
|
|
235
|
|
—
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted free
cash flow
|
|
(26,719)
|
|
(8,582)
|
|
(11,757)
|
|
Reconciliation of
U.S. GAAP to Non-GAAP Outlook
(In millions,
except per share data)
(Unaudited)
|
|
|
|
Third quarter of fiscal
2024 ending June 29, 2024
|
|
|
GAAP Outlook
|
|
Adjustments
|
|
Non-GAAP
Outlook
|
|
Net revenue
|
|
$180
million
+/- $10
million
|
|
—
|
|
$180
million
+/- $10
million
|
|
Operating
expenses
|
|
$79.6
million
+/- 2%
|
|
$7.6
million B,C
|
|
$72.0
million
+/- 2%
|
|
Diluted
EPS(1)
|
|
$0.17
+/- 10%
|
|
$0.13
A, B, C,D
|
|
$0.30
+/- 10%
|
|
|
|
|
|
|
|
|
Non-GAAP
Adjustments
|
|
|
|
|
|
|
|
A. Equity-based
compensation - Cost of sales
|
|
|
|
0.4
|
|
B. Equity-based
compensation - Selling, general and administrative and Research and
development
|
|
|
|
6.3
|
|
C. Amortization related
to intangible assets
|
|
|
|
1.3
|
|
D. Net income tax
effect of the above items
|
|
|
|
(0.6)
|
|
(1)
|
GAAP and non-GAAP
diluted EPS based on approximately 55.4 million diluted weighted
average shares outstanding.
|
The tables above reconcile our GAAP to non-GAAP guidance based
on the current outlook. The guidance does not incorporate the
impact of any potential business combinations, divestitures,
restructuring activities, strategic investments and other
significant transactions. The timing and impact of such items are
dependent on future events that may be uncertain or outside of our
control.
View original
content:https://www.prnewswire.com/news-releases/kulicke--soffa-reports-second-quarter-2024-results-302133571.html
SOURCE Kulicke & Soffa Industries, Inc.