Indeed,
here is what briefing says.. oh course they don't mention that the Q1 news is not news at all, even though the KLIC PR did mention specifically that point:
KULICKE & SOFFA INDUSTRIES (KLIC) 28 1/8 CLOSED. Semiconductor factory automation equipment, wire
bonding and packaging materials concern posted a better-than-expected fiscal 4Q result; however, the company said that
sales and earnings in the upcoming quarter would be lower than in the September period. Hence, while the company beat
Wall Street expectations by a good margin, any positive impact on the stock will be tempered by this caution flag. According to
KLIC, it earned $0.63 a share in the 4Q, five cents ahead of the First Call estimate, and a turn-around from year-ago loss
of $0.65 a share, although this latter figure includes a $7 million charge for restructuring. Nonetheless, the company had a very
good quarter as sales for the period rose 147% to $152.19 million from year-ago level of $61.70 million. KLIC had bookings
of $155 million in the latest quarter and ended the period with a backlog of $118 million. Nonetheless, KLIC expects
sequential sales and earnings to be lower in the 1Q as a result of customers digestion problems associated with the record
deliveries the company had in fiscal 1997 and a longer than projected transition to the company's new platform of wire
bonders. After the 1Q, the company expects strong results during the remainder of the new fiscal year as it plans to again
deliver record sales and earnings results. But, given the current tone of the market and the fact that 1Q results will be weaker
than the current quarter, the latest results are a mixed bag for the stock. On the other hand, the stock has been more than
cut in half in the past two months, so the bad news that lie ahead may already be reflected in the stock. |
