SINGAPORE, Nov. 13,
2024 /PRNewswire/ -- Kulicke and Soffa Industries,
Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S," "our," or
the "Company"), today announced the financial results of its fourth
fiscal quarter ended September 28,
2024. The Company reported fourth quarter net revenue of
$181.3 million, net income of
$12.1 million, representing EPS of
$0.22 per fully diluted shares, and
non-GAAP net income of $18.5 million,
representing non-GAAP EPS of $0.34
per fully diluted share.
|
Quarterly Results -
U.S. GAAP
|
|
Fiscal Q4
2024
|
Change
vs.
Fiscal Q4
2023
|
Change
vs.
Fiscal Q3
2024
|
|
Net Revenue
|
$181.3
million
|
down 10.4%
|
down 0.2%
|
|
Gross Margin
|
48.3 %
|
up 90 bps
|
up 170 bps
|
|
Income from
Operations
|
$2.7 million
|
down 86.2%
|
down 67.5%
|
|
Operating
Margin
|
1.5 %
|
down 810 bps
|
down 310 bps
|
|
Net Income
|
$12.1
million
|
down 48.1%
|
down 1.2%
|
|
Net Margin
|
6.7 %
|
down 480 bps
|
down 10 bps
|
|
EPS –
Diluted
|
$0.22
|
down 46.3%
|
up 0%
|
|
Quarterly Results -
Non-GAAP
|
|
Fiscal Q4
2024
|
Change
vs.
Fiscal Q4
2023
|
Change
vs.
Fiscal Q3
2024
|
|
Income from
Operations
|
$12.7
million
|
down 51.7%
|
down 20.2%
|
|
Operating
Margin
|
7.0 %
|
down 600 bps
|
down 170 bps
|
|
Net Income
|
$18.5
million
|
down 37%
|
down 4.1%
|
|
Net Margin
|
10.2 %
|
down 430 bps
|
down 40 bps
|
|
EPS -
Diluted
|
$0.34
|
down 33.3%
|
down 2.9%
|
|
|
A reconciliation of
the GAAP and non-GAAP adjusted results is provided in the financial
tables included in this release. See also "Use of non-GAAP
Financial Results" section.
|
Fusen Chen, Kulicke & Soffa's
President and Chief Executive Officer, stated, "We continue to
drive market adoption of our advanced packaging and assembly
solutions including vertical wire, high-power interconnect (HPI),
advanced dispense and fluxless thermo-compression (FTC). Demand for
these solutions is anticipated to accelerate along with coordinated
General Semiconductor and Automotive market recovery through fiscal
year 2025."
The transition to emerging chiplet and heterogeneous
applications — which are enabling new levels of performance and
transistor density — position Kulicke & Soffa for additional
share gains within leading-edge logic. Beyond this emerging FTC
solution which is supporting leading-edge assembly transitions;
high-volume memory, automotive and LED applications are also
requiring new assembly solutions which can deliver package-level
transistor density improvements. These growing market needs are
being directly supported through Kulicke & Soffa's portfolio of
vertical wire, advanced dispense and advanced display
solutions.
Fiscal Year 2024 Financial Highlights
- Net revenue of $706.2
million.
- Gross margin of 38.1%.
- Net loss of $69.0 million or
$(1.24) per fully diluted share;
non-GAAP net income of $1.6 million
or $0.03 per fully diluted
share.
- GAAP cash from operations of $31.0
million; Adjusted free cash flow of $14.9 million.
- The Company repurchased a total of 3.2 million shares of common
stock at a cost of $151.0
million.
- Cash, cash equivalents, and short-term investments were
$577.1 million as of September 28, 2024.
Fourth Quarter Fiscal 2024 Financial Highlights
- Net revenue of $181.3
million.
- Gross margin of 48.3%.
- Net income of $12.1 million or
$0.22 per fully diluted share;
non-GAAP net income of $18.5 million
or $0.34 per fully diluted
share.
- GAAP cash from operations of $31.6
million; Adjusted free cash flow of $29.2 million.
- The Company repurchased a total of 1.0 million shares of common
stock at a cost of $42.7
million.
First Quarter Fiscal 2025 Outlook
The Company currently expects net revenue in the first fiscal
quarter of 2025, ending December 28,
2024, to be approximately $165.0
million, +/- $10 million, GAAP
diluted EPS to be approximately $1.45
+/- 10%, and non-GAAP diluted EPS to be approximately $0.28, +/- 10%. This outlook includes favorable
claim/proceeds relating to cessation of business due to the
cancellation of Project W - which was disclosed on March 11, 2024.
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
tomorrow, November 14, 2024, beginning at 8:00am EST. 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.
A replay will be available from approximately one hour after the
completion of the call by calling toll-free +1-877-660-6853 or
internationally +1-201-612-7415 and using the replay ID number of
13743544.
Use of Non-GAAP Financial Results
In addition to U.S. 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 cost, 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 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 U.S. GAAP metrics as well as 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 and Forward Looking
Statements
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
thermo-compression 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 persistent macroeconomic headwinds on our
business, actual or potential inflationary pressures, disruptions,
breaches or failures in our information technology systems and
network infrastructures, 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.
Contacts:
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
|
|
Twelve months
ended
|
|
September
28, 2024
|
|
September
30, 2023
|
|
September
28, 2024
|
|
September
30, 2023
|
|
Net revenue
|
$
181,319
|
|
$
202,320
|
|
$
706,232
|
|
$
742,491
|
|
Cost of
sales
|
93,662
|
|
106,481
|
|
437,478
|
|
383,836
|
|
Gross profit
|
87,657
|
|
95,839
|
|
268,754
|
|
358,655
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
42,645
|
|
37,380
|
|
155,142
|
|
145,493
|
|
Research and
development
|
38,763
|
|
37,616
|
|
151,214
|
|
144,701
|
|
Impairment
charges
|
—
|
|
—
|
|
44,472
|
|
21,535
|
|
Acquisition-related
cost
|
—
|
|
13
|
|
—
|
|
511
|
|
Amortization of
intangible assets
|
1,266
|
|
1,356
|
|
5,188
|
|
6,099
|
|
Restructuring
|
2,294
|
|
—
|
|
5,234
|
|
879
|
|
Total operating
expenses
|
84,968
|
|
76,365
|
|
361,250
|
|
319,218
|
|
Income/(loss) from
operations
|
2,689
|
|
19,474
|
|
(92,496)
|
|
39,437
|
|
Other income /
(expense):
|
|
|
|
|
|
|
|
|
Interest
income
|
7,423
|
|
9,500
|
|
34,230
|
|
32,906
|
|
Interest
expense
|
(29)
|
|
(26)
|
|
(89)
|
|
(142)
|
|
Income/(loss) before
income taxes
|
10,083
|
|
28,948
|
|
(58,355)
|
|
72,201
|
|
Income tax (benefit) /
expense
|
(2,034)
|
|
5,591
|
|
10,651
|
|
15,053
|
|
Net income /
(loss)
|
$
12,117
|
|
$
23,357
|
|
$
(69,006)
|
|
$
57,148
|
|
|
|
|
|
|
|
|
|
Net income / (loss) per
share:
|
|
|
|
|
|
|
|
|
Basic
|
$
0.22
|
|
$
0.41
|
|
$
(1.24)
|
|
$
1.01
|
|
Diluted
|
$
0.22
|
|
$
0.41
|
|
$
(1.24)
|
|
$
0.99
|
|
|
|
|
|
|
|
|
|
Cash dividends declared
per share
|
$
0.20
|
|
$
0.19
|
|
$
0.80
|
|
$
0.76
|
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
54,368
|
|
56,442
|
|
55,613
|
|
56,682
|
|
Diluted
|
54,871
|
|
57,408
|
|
55,613
|
|
57,548
|
|
|
Three months
ended
|
|
Twelve months
ended
|
|
Supplemental
financial data:
|
September
28, 2024
|
|
September
30, 2023
|
|
September
28, 2024
|
|
September
30, 2023
|
|
Depreciation and
amortization
|
$
4,839
|
|
$
8,111
|
|
$
24,735
|
|
$
28,857
|
|
Capital
expenditures
|
3,091
|
|
4,217
|
|
13,736
|
|
47,702
|
|
Equity-based
compensation expense:
|
|
|
|
|
|
|
|
|
Cost of
sales
|
240
|
|
289
|
|
1,277
|
|
1,192
|
|
Selling, general and
administrative
|
4,441
|
|
3,841
|
|
18,524
|
|
16,239
|
|
Research and
development
|
1,758
|
|
1,311
|
|
7,090
|
|
5,313
|
|
Total equity-based
compensation expense
|
$
6,439
|
|
$
5,441
|
|
$
26,891
|
|
$
22,744
|
|
|
|
|
|
|
As of
|
|
|
|
|
|
September 28,
2024
|
|
September 30,
2023
|
|
Number of
employees
|
|
|
|
|
2,746
|
|
3,025
|
|
KULICKE AND SOFFA
INDUSTRIES, INC.
CONSOLIDATED
CONDENSED BALANCE SHEETS
(In
thousands)
(Unaudited)
|
|
|
As of
|
|
September 28,
2024
|
|
September 30,
2023
|
|
ASSETS
|
|
CURRENT
ASSETS
|
|
|
|
|
Cash and cash
equivalents
|
$
227,147
|
|
$
529,402
|
|
Short-term
investments
|
350,000
|
|
230,000
|
|
Accounts and notes
receivable, net of allowance for doubtful accounts of $49 and $49
respectively
|
193,909
|
|
158,601
|
|
Inventories,
net
|
177,736
|
|
217,304
|
|
Prepaid expenses and
other current assets
|
46,161
|
|
53,751
|
|
TOTAL CURRENT
ASSETS
|
994,953
|
|
1,189,058
|
|
|
|
|
|
Property, plant and
equipment, net
|
64,823
|
|
110,051
|
|
Operating right-of-use
assets
|
35,923
|
|
47,148
|
|
Goodwill
|
89,748
|
|
88,673
|
|
Intangible assets,
net
|
25,239
|
|
29,357
|
|
Deferred tax
assets
|
17,900
|
|
31,551
|
|
Equity
investments
|
3,143
|
|
716
|
|
Other assets
|
8,433
|
|
3,223
|
|
TOTAL
ASSETS
|
$
1,240,162
|
|
$
1,499,777
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
CURRENT
LIABILITIES
|
|
|
|
|
Accounts
payable
|
58,847
|
|
49,302
|
|
Operating lease
liabilities
|
7,718
|
|
6,574
|
|
Accrued expenses and
other current liabilities
|
90,802
|
|
103,005
|
|
Income taxes
payable
|
26,427
|
|
22,670
|
|
TOTAL CURRENT
LIABILITIES
|
183,794
|
|
181,551
|
|
|
|
|
|
Deferred tax
liabilities
|
34,594
|
|
37,264
|
|
Income taxes
payable
|
31,352
|
|
52,793
|
|
Operating lease
liabilities
|
33,245
|
|
41,839
|
|
Other
liabilities
|
13,168
|
|
11,769
|
|
TOTAL
LIABILITIES
|
$
296,153
|
|
$
325,216
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
Common stock, no par
value
|
596,703
|
|
577,727
|
|
Treasury stock, at
cost
|
(881,830)
|
|
(737,214)
|
|
Retained
earnings
|
1,242,558
|
|
1,355,810
|
|
Accumulated other
comprehensive loss
|
(13,422)
|
|
(21,762)
|
|
TOTAL SHAREHOLDERS'
EQUITY
|
$
944,009
|
|
$
1,174,561
|
|
|
|
|
|
TOTAL LIABILITIES
AND SHAREHOLDERS' EQUITY
|
$
1,240,162
|
|
$
1,499,777
|
|
KULICKE AND SOFFA
INDUSTRIES, INC.
CONSOLIDATED
CONDENSED STATEMENTS OF CASH FLOWS
(In
thousands)
(Unaudited)
|
|
|
Three months
ended
|
|
Twelve months
ended
|
|
September
28, 2024
|
|
September
30, 2023
|
|
September
28, 2024
|
|
September
30, 2023
|
|
Net cash provided by
operating activities
|
$
31,619
|
|
$
77,492
|
|
$
31,037
|
|
$
173,404
|
|
Net cash (used in) /
provided by investing activities, continuing operations
|
(117,983)
|
|
70,386
|
|
(138,501)
|
|
(91,338)
|
|
Net cash used in
financing activities, continuing operations
|
(54,371)
|
|
(19,518)
|
|
(196,100)
|
|
(111,876)
|
|
Effect of exchange rate
changes on cash and cash equivalents
|
965
|
|
(764)
|
|
1,309
|
|
3,675
|
|
Changes in cash and
cash equivalents
|
(139,770)
|
|
127,596
|
|
(302,255)
|
|
(26,135)
|
|
Cash and cash
equivalents, beginning of period
|
366,917
|
|
401,806
|
|
529,402
|
|
555,537
|
|
Cash and cash
equivalents, end of period
|
$
227,147
|
|
$
529,402
|
|
$
227,147
|
|
$
529,402
|
|
|
|
|
|
|
|
|
|
Short-term
investments
|
350,000
|
|
230,000
|
|
350,000
|
|
230,000
|
|
Total cash, cash
equivalents, and short-term investments
|
$
577,147
|
|
$
759,402
|
|
$
577,147
|
|
$
759,402
|
|
Reconciliation of
U.S. GAAP Income from Operating
to Non-GAAP Income
from Operation and Operating Margin
(In thousands,
except percentages)
(unaudited)
|
|
|
|
Three months
ended
|
|
|
September 28,
2024
|
|
September 30,
2023
|
|
June 29,
2024
|
|
Net revenue
|
|
$
181,319
|
|
$
202,320
|
|
$
181,650
|
|
U.S. GAAP income from
operations
|
|
2,689
|
|
19,474
|
|
8,277
|
|
U.S. GAAP operating
margin
|
|
1.5 %
|
|
9.6 %
|
|
4.6 %
|
|
|
|
|
|
|
|
|
Pre-tax non-GAAP
items:
|
|
|
|
|
|
|
|
Amortization related to
intangible assets
|
|
$
1,266
|
|
$
1,356
|
|
1,250
|
|
Acquisition-related
costs
|
|
—
|
|
13
|
|
—
|
|
Equity-based
compensation
|
|
6,439
|
|
5,441
|
|
6,363
|
|
Restructuring
|
|
2,294
|
|
—
|
|
—
|
|
Non-GAAP income from
operations
|
|
$
12,688
|
|
$
26,284
|
|
$
15,890
|
|
Non-GAAP operating
margin
|
|
7.0 %
|
|
13.0 %
|
|
8.7 %
|
|
Reconciliation of
U.S. GAAP Net Income to Non-GAAP Net Income and
U.S. GAAP net income
per share to Non-GAAP net income per share
(in thousands,
except per share data)
(unaudited)
|
|
|
Twelve months
ended
|
|
Three months
ended
|
|
September 28,
2024
|
|
September 28,
2024
|
|
September 30,
2023
|
|
June 29,
2024
|
|
Net revenue
|
$ 706,232
|
|
$
181,319
|
|
$
202,320
|
|
$
181,650
|
|
U.S. GAAP net
income
|
(69,006)
|
|
12,117
|
|
23,357
|
|
12,264
|
|
U.S. GAAP net
margin
|
(9.8) %
|
|
6.7 %
|
|
11.5 %
|
|
6.8 %
|
|
|
|
|
|
|
|
|
|
Non-GAAP
adjustments:
|
|
|
|
|
|
|
|
|
Amortization related to
intangible assets
|
$
5,188
|
|
$
1,266
|
|
$
1,356
|
|
1,250
|
|
Restructuring
|
5,234
|
|
2,294
|
|
—
|
|
—
|
|
Acquisition-related
costs
|
—
|
|
—
|
|
13
|
|
—
|
|
Equity-based
compensation
|
26,891
|
|
6,439
|
|
5,441
|
|
6,363
|
|
Impairment
charges
|
44,472
|
|
—
|
|
—
|
|
—
|
|
Income tax benefit - US
one-time transition tax
|
(6,461)
|
|
(6,461)
|
|
—
|
|
—
|
|
Net income tax
(benefit)/expense on non-GAAP items
|
(4,752)
|
|
2,866
|
|
(758)
|
|
(568)
|
|
Total non-GAAP
adjustments
|
70,572
|
|
6,404
|
|
6,052
|
|
7,045
|
|
Non-GAAP net
income
|
1,566
|
|
18,521
|
|
29,409
|
|
19,309
|
|
Non-GAAP net
margin
|
0.2 %
|
|
10.2 %
|
|
14.5 %
|
|
10.6 %
|
|
|
|
|
|
|
|
|
|
U.S. GAAP net income
per share:
|
|
|
|
|
|
|
|
|
Basic
|
(1.24)
|
|
0.22
|
|
0.41
|
|
0.22
|
|
Diluted(a)
|
(1.24)
|
|
0.22
|
|
0.41
|
|
0.22
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjustments
per share:(b)
|
|
|
|
|
|
|
|
|
Basic
|
1.27
|
|
0.12
|
|
0.11
|
|
0.13
|
|
Diluted
|
1.27
|
|
0.12
|
|
0.10
|
|
0.13
|
|
|
|
|
|
|
|
|
|
Non-GAAP net income per
share:
|
|
|
|
|
|
|
|
|
Basic
|
$
0.03
|
|
$
0.34
|
|
$
0.52
|
|
$
0.35
|
|
Diluted(c)
|
$
0.03
|
|
$
0.34
|
|
$
0.51
|
|
$
0.35
|
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
55,613
|
|
54,368
|
|
56,442
|
|
55,280
|
|
Diluted
|
55,613
|
|
54,871
|
|
57,408
|
|
55,724
|
|
|
|
(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 includes amortization related to intangible assets
acquired through business combinations, costs associated with
restructuring and severance, acquisition and integration cost,
equity-based compensation expenses, impairment relating to business
cessation or disposal, income tax benefit from the U.S. Tax Court
opinion in Varian Medical Systems, Inc. v. Commissioner
related to the U.S. one-time transition tax 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)
|
|
|
Twelve
months ended
|
|
Three months
ended
|
|
September 28,
2024
|
|
September
28, 2024
|
|
September
30, 2023
|
|
June 29,
2024
|
|
U.S. GAAP net cash
provided by operating activities
|
$
31,037
|
|
$
31,619
|
|
$
77,492
|
|
$
26,897
|
|
Expenditures for
property, plant and equipment
|
(16,148)
|
|
(2,468)
|
|
(9,281)
|
|
(2,683)
|
|
Proceeds from sales of
property, plant and equipment
|
27
|
|
27
|
|
273
|
|
—
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted free
cash flow
|
14,916
|
|
29,178
|
|
68,484
|
|
24,214
|
|
Reconciliation of
U.S. GAAP to Non-GAAP Outlook
(In millions,
except per share data)
(Unaudited)
|
|
|
|
First quarter of fiscal
2025 ending December 28, 2024
|
|
|
GAAP Outlook
|
|
Adjustments
|
|
Non-GAAP
Outlook
|
|
Net revenue
|
|
$165 million
+/- $10
million
|
|
—
|
|
$165 million
+/- $10
million
|
|
Operating
expenses
|
|
$4.0 million
+/- 2%
|
|
$(66.5) million
B,C,D,E
|
|
$70.5
million
+/- 2%
|
|
Diluted
EPS(1)
|
|
$1.45
+/- 10%
|
|
$(1.17) A,B,C,D,E,F
|
|
$0.28
+/- 10%
|
|
|
|
|
|
|
|
|
Non-GAAP
Adjustments
|
|
|
|
|
|
|
|
A. Equity-based
compensation - Cost of sales
|
|
|
|
|
|
0.5
|
|
B. Equity-based
compensation - Selling, general and
administrative and Research and development
|
|
|
|
|
|
6.3
|
|
C. Amortization related
to intangible assets
|
|
|
|
|
|
1.4
|
|
D. Restructuring
expenses
|
|
|
|
|
|
0.8
|
|
E. Claim/proceeds
relating to cessation of business
|
|
|
|
|
|
(75.0)
|
|
F. Net income tax
effect of the above items
|
|
|
|
|
|
2.4
|
|
|
|
(1)
|
GAAP and non-GAAP
diluted EPS based on approximately 54.2 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-fourth-quarter-2024-results-302304678.html
SOURCE Kulicke & Soffa Industries, Inc.