Kulicke and Soffa Message Board

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Technology Stocks : Kulicke and Soffa

KLIC 39.58

-0.3%

1:42 PM EDT

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From: Ian@SI	6/1/2012 5:48:00 PM
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I don;t remember ever seeing KLIC debt free before. 4:09PM Kulicke & Soffa repays remaining subordinated convertible notes; company now debt free ( KLIC) 9.94 -0.58 : Co announced it has repaid the entire remaining balance of its 0.875% Convertible Subordinated Notes, at the June 1, 2012 maturity date. The Notes had a remaining outstanding principal balance of approximately $110.0 mln at par plus interest. Kulicke & Soffa expects annual expenses relating to these Notes to be reduced by approximately $8.0 mln. Bruno Guilmart, Chief Executive Officer, stated "Eliminating the remaining debt obligation is the latest signal to underscore the strength of our balance sheet and business model. With a remaining net cash position of $316 million, we will continue to strategically invest in product development and efficiency improvements to expand our market leadership and further strengthen our competitive advantage, while also pursuing areas that can reduce the cyclicality in our business."

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