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Technology Stocks : Kulicke and Soffa

KLIC 49.41

+0.9%

3:22 PM EST

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From: scott_jiminez	3/21/2000 8:23:00 PM
	of 5482

Tuesday March 21, 4:18 pm Eastern Time Kulicke & Soffa expects to meet Q2 forecasts--CEO {emphasis added by SJ} NEW YORK, March 21 (Reuters) - The chief of semiconductor equipment and materials provider Kulicke & Soffa Inc. (NasdaqNM:KLIC - news) on Tuesday said he expects the company to meet Wall Street's profit expectations for the company's second quarter. ``I don't think we will disappoint them,' Chairman and Chief Executive Officer C. Scott Kulicke told Reuters in an interview at the SEMInvest conference here. Wall Street analysts expect the company to report a profit of 67 cents per share for the fiscal 2000 second quarter ending March 31, according to First Call/Thomson Financial. A year ago, Kulicke lost 32 cents per share. ``Business overall is very strong,' Kulicke said. `I've never seen business quite this robust.' Kulicke expects another quarter of record bookings. Orders in the first quarter were a record $207 million, a 31 percent rise from the fourth quarter of fiscal 1999. Kulicke said he expects to improve upon last quarter's gross margin level of 33 percent. The company has targeted a 42 percent gross margin rate by year's end, he said. Part of the gross margin improvement will come from the company's relocation of some manufacturing operations to Singapore from the United States, he said. That move is currently at or ahead of schedule, and those U.S. operations are set to close by July 1. (http://biz.yahoo.com/rf/000321/5q.html) Sweet. Very sweet.

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