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.

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