Kulicke And Soffa Industries Q1 Profit Tops View

Kulicke and Soffa Industries Inc. (KLIC) reported that its first quarter net income climbed to $133.61 million or $2.11 per share, from $48.36 million or $0.77 per share in the same quarter last year.

Non-GAAP net income was $138.82 million or $2.19 per share compared to $53.69 million or $0.86 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.90 per share for the first quarter. Analysts' estimates typically exclude special items.

Net revenue grew to $460.89 million, from $267.86 million in the prior year. Analysts expected revenue of $462.74 million for the quarter.

The company currently expects net revenue in the second fiscal quarter of 2022 ending April 2, 2022 to be approximately $380 million +/- $20 million, and expects non-GAAP earnings per share to be approximately $1.45 +/- 10%. Analysts expect the company to report earnings of $1.32 per share and revenues of $373.49 million for the second quarter.

The company currently anticipates revenue for its full fiscal year 2022 to increase sequentially to about $1.58 billion. Analysts expect revenue of $1.58 billion for fiscal year 2022.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Specialty athletic retailer Foot Locker, Inc. reported Friday a second-quarter net profit that plunged from last year, hurt by a sales decline amid markdowns. Quarterly sales met Street estimates. The company also trimmed it adjusted earnings and sales growth guidance for the full-year 2022. Google's hundreds of employees have signed a petition sent to executives demanding extension of abortion care benefits to contract workers. The workers also called to halt donations given to anti-abortion politicians and to expand travel benefits. The petition, circulated by the Alphabet Workers Union, has been signed by over 650 employees at Google's parent company Alphabet Inc. Apple Inc. has released an emergency security update noting that some of its iPhones, iPads and Macs had certain vulnerabilities. The tech major said the flaws potentially allow full admin access to devices. The models affected by the issue include iPhone 6S and later models, several models of the newer iPads, and Mac computers running macOS Monterey and above. The flaws also affect the iPod Touch
Follow RTT