Kulicke & Soffa Updates Outlook for its Fiscal First Quarter 2021

Rhea-AI Summary

Kulicke and Soffa (NASDAQ: KLIC) expects fiscal Q1 2021 revenue to be approximately $265 million and non-GAAP EPS between $0.73 and $0.77, reflecting strong demand in semiconductor and LED markets. The Company anticipates ongoing recovery within the automotive sector throughout 2021. CEO Fusen Chen highlighted improved visibility and readiness to meet increased demand, with a detailed earnings call scheduled for February 4, 2021. Note that these estimates are preliminary and unaudited, subject to change.

Positive

• Expected revenue of approximately $265 million for Q1 2021.
• Projected non-GAAP EPS between $0.73 and $0.77.
• Strong demand from semiconductor and LED markets.
• Anticipated recovery in the automotive sector throughout fiscal 2021.

Negative

• Preliminary estimates are subject to change and have not been audited.

SINGAPORE, Jan. 19, 2021 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S" or the "Company"), today announced that it expects revenue to be approximately $265 million and non-GAAP earnings per share to be approximately $0.73 to $0.77 for the fiscal first quarter, ended January 2, 2021.

Strong demand for K&S solutions is stemming from the general semiconductor and LED end-markets and ongoing recovery is anticipated to continue within automotive throughout fiscal year 2021.

Fusen Chen, President and Chief Executive Officer, stated, "Recently, visibility has broadly improved through the second fiscal half. We are well prepared to support a higher level of demand while we prioritize development initiatives, new product adoption and long-term technology engagements with customers."

K&S will provide additional commentary regarding performance of its most recent fiscal period and will also update its full year outlook during its fiscal first quarter earnings call which is scheduled for 8am EST on February 4, 2021.

The estimates set forth above are unaudited and should be considered preliminary and subject to change. Accordingly, you should not place undue reliance on this preliminary data, which may differ materially from the Company's final results. This estimate has been prepared by and is the responsibility of management. Kulicke & Soffa's independent registered public accounting firm has not audited, compiled, performed any procedures on or reviewed the preliminary financial data, and accordingly does not express an opinion or any other form of assurance with respect to the preliminary financial data.

About Kulicke & Soffa

Kulicke & Soffa (NASDAQ: KLIC) is a leading provider of semiconductor and electronic assembly solutions serving the global automotive, consumer, communications, computing and industrial markets. Founded in 1951, K&S prides itself on establishing foundations for technological advancement - creating pioneering interconnect solutions that enable performance improvements, power efficiency, form-factor reductions and assembly excellence of current and next-generation semiconductor devices.

Leveraging decades of development proficiency and extensive process technology expertise, Kulicke & Soffa's expanding portfolio provides equipment solutions, aftermarket products and services supporting a comprehensive set of interconnect technologies including wire bonding, advanced packaging, lithography, and electronics assembly. Dedicated to empowering technological discovery, always, K&S collaborates with customers and technology partners to push the boundaries of possibility, enabling a smarter future (www.kns.com).

Caution Concerning Forward-Looking Statements

This press release contains statements relating to future events. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our judgments and future expectations concerning our business, a number of risks, uncertainties and other important factors could cause actual developments to differ materially from our expectations. These factors include, but are not limited to, the effects of the COVID-19 pandemic on our business, and the other factors listed or discussed in our Annual Report on Form 10-K for the fiscal year ended October 3, 2020, filed on November 20, 2020, and our other filings with the Securities and Exchange Commission. Kulicke and Soffa Industries, Inc. is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Contacts
Kulicke & Soffa
Marilyn Sim
Public Relations
P: +65-6880-9309
F: +65-6880-9580
msim@kns.com

Kulicke & Soffa  
Joseph Elgindy
Investor Relations & Strategic Initiatives
P: +1-215-784-7500
F: +1-215-784-6180
investor@kns.com

 

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SOURCE Kulicke & Soffa Industries, Inc.

FAQ

What is Kulicke and Soffa's expected revenue for Q1 2021?

Kulicke and Soffa expects revenue of approximately $265 million for fiscal Q1 2021.

What are the projected EPS figures for Kulicke and Soffa in Q1 2021?

The projected non-GAAP EPS for Kulicke and Soffa in Q1 2021 is between $0.73 and $0.77.

When is Kulicke and Soffa's earnings call for Q1 2021?

Kulicke and Soffa's earnings call for Q1 2021 is scheduled for February 4, 2021, at 8 am EST.

What markets are driving demand for Kulicke and Soffa's solutions?

Demand for Kulicke and Soffa's solutions is primarily driven by the semiconductor and LED markets.

Is Kulicke and Soffa's Q1 2021 estimate audited?

No, Kulicke and Soffa's Q1 2021 estimates are preliminary and have not been audited.