7/20....KLIC...Reports Another Record Quarter
Record New Orders, Sales and Net Income
biz.yahoo.com
WILLOW GROVE, Pa.--(BUSINESS WIRE)--July 20, 2000--Kulicke & Soffa Industries Inc. (NASDAQ:KLIC - news) today announced record bookings, sales and net income for its third quarter of fiscal 2000, which ended June 30, 2000.
Sales for the quarter were $268.3 million, up 21% over second quarter sales in FY2000 of $222.2 million and up 142% from third quarter FY1999 sales of $110.8 million. Net income was $38.2 million or $1.35 per diluted share (on a pre-split basis), up 74% from the $22.0 million or $0.80 per diluted share (on a pre-split basis) recorded in the second quarter of FY2000 and compared to a net loss of ($659,000) or ($0.03) per diluted share (on a pre-split basis) in the third quarter of last year.
On June 26, 2000, the Company announced a 2-for-1 stock split of its common stock effective July 31. After adjusting for the 2-for-1 stock split, the third quarter FY2000 earnings per diluted share were $0.67 compared to second quarter FY2000 earnings per diluted share of $0.40 and a third quarter FY1999 loss per diluted share of ($0.01).
For the nine months ended June 30, 2000, sales were $670.3 million, an increase of 173% over the $245.5 million recorded for the first nine months of FY1999. Net income for the same period was $73.0 million or $2.71 per diluted share (on a pre-split basis), compared to a loss of ($24.3 million) or ($1.04) per diluted share (on a pre-split basis) in the first nine months of FY1999.
After adjusting for the 2-for-1 stock split, earnings per diluted share for the first nine months of FY2000 were $1.36 compared to a loss of ($0.52) per diluted share for the same period in FY1999.
Surpassing record bookings in the second quarter of $242.0 million, the Company posted record bookings in the third quarter of $281.0 million--a sequential increase of 16% and a 114% increase over third quarter FY1999 bookings of $131.0 million.
Gross margin for the third fiscal quarter of 2000 was 38% up from the 34% recorded in the second quarter of fiscal 2000 and up from the 27% recorded in the third fiscal quarter of 1999. Net income as a percent of net sales increased from 10% in the second fiscal quarter of 2000 to 14% in the third quarter.
C. Scott Kulicke, chairman and chief executive officer of K&S, said, ``We are very pleased to report these record third quarter results, driven by increased customer demand and significant improvement in operating leverage. The increase in gross margin reflects the highly successful ramp of ball bonder manufacturing in our new Singapore facility.''
Kulicke & Soffa is the world's largest supplier of semiconductor assembly equipment. The company provides scaleable solutions for the assembly of chip and wire, flip chip and chip scale packages. Chip and wire solutions combine wire bonding, die bonding and wafer dicing equipment with wire, capillaries, die collets, saw blades and die attach materials. Flip chip solutions include die placement equipment, flip chip bumping technology, glob top and underfill materials, and thin film laminates. K&S also offers unique CSP packaging technology as well as factory integration products and services. It has sales, service and applications development facilities worldwide. Kulicke & Soffa's web site address is www.kns.com. |
