Kulicke and Soffa Message Board

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Technology Stocks : Kulicke and Soffa

KLIC 56.56

+2.1%

3:59 PM EST

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To: privatesmith who wrote (2327)	12/12/1997 11:47:00 AM
From: Darin	Read Replies (2) of 5482

To All, * Kulicke & Soffa held a conference call today. We are lowering our 1Q estimate to $0.22, and our FY 98 estimate to $2.00 from $2.40. We are lowering our one-year price target to $35 from $55. * One of Kulicke & Soffa's customers, Hyundai, pushed out an order for 80 wire bonders. Another South Korean customer failed to procure a letter of credit, and this delayed the placement of a 30-unit order. * These events highlight a general problem in South Korea -- a lack capital, and a related need to conserve cash. Our estimate reduction is intended to factor in the potential for additional weakness in South Korea. * The other issue that the company highlighted was a delay in the rampup of its Model 8060 wire bonder, a product designed for the leading global microprocessor manufacturer. The company views this as a temporary delay. * This is a disappointing development, and we think there may be more to it than the short term timing issue that management describes it to be. However, with the stock down 69% from its high point, we think the shares offer value.

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