04/02 17:15 KULICKE & SOFFA ANNOUNCES MAJOR ORDER
CANCELLATION
from moneynet.com
( BW)(KULICKE-&-SOFFA)(KLIC) Kulicke & Soffa Announces Major Order Cancellation
Business Editors/Computers & Electronics Writers
WILLOW GROVE, Pa.--(BUSINESS WIRE)--April 2, 1998--Kulicke & Soffa Industries
Inc. (NASDAQ: KLIC) announced Thursday that a major customer canceled an order for over
100 model 8060 automatic wedge bonders scheduled to ship in the June quarter.
"We were just informed that the planned shipment of the balance of a customer's order for our
new wedge bonder is canceled as a result of cutbacks in their planned capital spending," said C.
Scott Kulicke, chairman and chief executive officer of Kulicke & Soffa Industries Inc.
"We have a backlog of other orders, but not enough to make up the shortfall in planned
shipments caused by this cancellation.
"As a result, revenues for the June quarter are likely to be significantly below street expectations
and consequently we anticipate a net loss for that quarter. We are assessing the impact on
operations and plan appropriate measures to bring production capacity into line with anticipated
demand."
Certain matters discussed in this news release, including operating and financial results in fiscal
1998, 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 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; 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 most recent SEC filings.
Kulicke & Soffa is the world's largest supplier of semiconductor assembly equipment.
The company serves the integrated circuit assembly market with a product line that includes wire
bonding, die bonding, wafer dicing and factory automation equipment, as well as expendable
tools and materials, including bonding wire, capillaries, wedges, die collets and saw blades, and
has sales and service facilities worldwide. The company's website address is www.kns.com. |
