Kulicke & Soffa Revises Fourth Quarter Forecast
Tuesday August 10, 6:35 pm ET
WILLOW GROVE, PA--(MARKET WIRE)--Aug 10, 2004 -- Kulicke & Soffa Industries, Inc. (NasdaqNM:KLIC - News) today revised its revenue forecast for the fourth fiscal quarter ending September 30, 2004. Discussions with customers indicate a general slowing in the rate of semiconductor growth, and as a result, wire bonder shipments for the September quarter will be lower than previously forecast. The Company had previously forecast revenue for the quarter to be in the $175 to $195 million range. The Company's current forecast is for revenue to be in the $135 to $165 million range.
Maurice Carson, vice president and chief financial officer, commented, "We have implemented cost improvements over the last several quarters so as to be profitable in off-peak quarters. These cost cutting plans are on track. Even at the low end of this new revenue range, we anticipate a profitable quarter, excluding bond redemption costs, with positive operating cash flow. In addition, our R&D plans are still moving forward."
He added, "Our revised guidance is based on our customers' latest indications regarding wire bonder capacity. Some customers are now more cautious about the timing of future
demand. This reduction of wire bonder demand does not reflect any loss of market share and we expect our packaging materials and test products will meet their original forecast." |
