KLIC Announces Reduced Expectations for the First Fiscal Quarter of 2001
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Thursday November 2, 6:36 pm Eastern Time
Press Release
Kulicke & Soffa Announces Reduced Expectations for the First Fiscal Quarter of 2001
WILLOW GROVE, PA--(BUSINESS WIRE)--Nov. 2, 2000--Kulicke & Soffa Industries, Inc. (NASDAQ:KLIC - news) today announced a reduced outlook for revenues for its first fiscal quarter of 2001 ending December 31, 2000.
In early August, K&S announced customer order deferrals and push-outs that were expected to impact financial performance in the fourth fiscal quarter of 2000 and the first fiscal quarter of 2001. The Company continues to experience deferrals and push-outs that will further impact first quarter results.
Chairman and Chief Executive Officer C. Scott Kulicke stated, ``Orders for our wire bonder equipment are very volatile right now and subject to modifications. This week, some of our major assembly customers notified us of additional push-outs of previously booked orders. They are also deferring new orders. As a result, the Company's revenues for the first fiscal quarter of 2001 are now expected to be in the range of $140 million to $165 million.
``Industry analysts continue to forecast that demand for semiconductors will increase in 2001. While we believe the anticipated opening of new fabrication facilities will reaccelerate the demand for our back-end equipment later in the year, we are monitoring the situation closely and taking the appropriate steps to manage the business in line with evolving order levels,'' said Kulicke.
The above guidance does not include projected revenues that could result from the previously announced tender offer for Cerprobe Corporation. In addition, the Company is under no obligation to update this guidance.
A conference call is scheduled for Monday, November 6, 2000 at 9:00 a.m. EST. Interested parties may call 973/628-6885 between 8:45 and 9:00 a.m. for the teleconference or log on to an audio webcast of the call at www.kns.com.
The webcast will be a listen-only connection. A 24-hour replay of the call will be available by approximately 11:00 a.m. on November 6 by dialing 402/220-2932 or 888/734-1065 or logging on to www.kns.com.
Certain matters discussed in this news release, including operating and financial results for future periods, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to materially differ, either better or worse, from those projected.
Such risks and uncertainties include, but are not limited to, the following: the risk of further order postponements or cancellations; the risks associated with a substantial foreign customer base; the risks associated with instability in foreign capital markets and foreign currency fluctuations; the upward and downward volatility in the demand for semiconductors and for the Company's products and services; competitive pricing pressures; the risk of delays in introduction and customer qualification of new products and services; and the Company's ability to manufacture and ship its products on a timely basis.
Further discussions of risk factors are also available in the Company's Fiscal 1999 Form 10K filed with the SEC.
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Contact:
Kulicke & Soffa Industries, Inc.
Nancy R. Kyle, 215/784-6436
nkyle@kns.com |
