This Gloomy forecast from KLIC may have been posted already. If so, my apologies:
Wednesday July 22, 9:01 am Eastern Time
Kulicke & Soffa sees disappointing Q4
WILLOW GROVE, Pa., July 22 (Reuters) - Semiconductor equipment maker Kulicke & Soffa Industries Inc. said Wednesday its fiscal
fourth quarter loss will exceed estimates, and revenues will decline from the third quarter.
''We expect weak business conditions to continue for the next few quarters'' due to a weak semiconductor market and the economic crisis
in Asia, C. Scott Kulicke, chief executive, said in a statement.
Kulicke said the fourth quarter loss will be ''substantially larger'' than the current First Call estimate of a loss of $0.28 per share.
In the year-earlier fourth quarter, ended in September, the company reported a net profit of $15.1 million, or $0.63 per share.
Jim Chiafery, an official with Kulicke & Soffa, told Reuters that the company has cut about 200 temporary workers, out of a total work
force of about 2,200. He said the cuts were made in order to reduce operating expenses.
Chiafery was not able to comment on potential restructuring charges from any further job cuts.
In the third quarter, ended June 30, the company reported a loss of $3.1 million, or $0.13 per share, on sales of $91.7 million, compared to
a profit of $13.5 million, or $0.62 per share, on revenue of $146.4 million.
On the New York Stock Exchange, Kulicke & Soffa closed at $15.69 on Tuesday, well below its 52-week high of $58.38.
Source: biz.yahoo.com |
