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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (55652)	11/15/2001 10:46:24 AM
From: michael97123	Respond to of 70976

Kulicke & Soffa posts quarterly loss WILLOW GROVE, Pa., Nov 15 (Reuters) - Semiconductor equipment maker Kulicke & Soffa Industries Inc. (NasdaqNM:KLIC - news) on Thursday reported a fiscal fourth-quarter loss, hurt by the continuing slump in the chip industry, as sales fell sharply. The company, seen as a leading indicator in the semiconductor industry cycle, said it had a net loss, including unusual charges, of $24.3 million, or 50 cents a share, compared with a year-earlier profit of $30.2 million, or 54 cents a share. Sales tumbled to $117.8 million from $229 million. The company's pro forma loss, excluding an inventory write-down, amortization of goodwill and intangibles, and re-sizing costs, was $8.8 million, or 18 cents a diluted share. Analysts had expected Kulicke & Soffa to post a loss of 21 cents a share, with loss estimates ranging from 12 cents to 27 cents, according to 11 brokers polled by Thomson Financial/First Call Corp. The Willow Grove, Pennsylvania-based company said it has also begun to report results using new accounting standard. In the release, Chairman and Chief Executive C. Scott Kulicke, did not discuss the company's performance in the quarter, except to say: ``We believe the worst of the cycle is behind us.'' He added that he expects the company to deliver ``modest sequential revenue growth over the next couple of quarters.'' Using the company's older methods of revenue recognition, his forecast for fiscal first quarter revenue of $100 million to $110 million was slightly higher than revenues reported in the fourth quarter. The company said its backlog at September 30, 2001, was $49.0 million compared to backlog of $84.0 million at the end of the third fiscal quarter of 2001 after adjusting for change in accounting methods. Shares of Kulicke & Soffa fell 17 cents, to $18.13, in early trade on Nasdaq.