KLIC - Kulicke and Soffa Industries Inc (NASDAQ) $6.47 - $451M (Market Cap)
Kulicke & Soffa Industries, Inc. (K&S) who designs, manufactures and sells capital equipment and expendable tools used to assemble semiconductor devices, including integrated circuits, high and low powered discrete devices, LEDs, and power modules reported first fiscal 2010 results.
I listened in on the conference call and wanted to highlight the key product trends and financials:
Financial Highlights
1. Net Revenue of 128.4M
2. Gross Profit of $56.4M
3. Gross Margin improved 119 basis points to 43.9%
4. Net Income of $15.8M
5. Return on Invested Capital+ of 35.4%
6. Total cash and cash equivalents of $175.2 million as of January 2, 2010
7. Net revenue for the March quarter of fiscal 2010 is expected to be $140 to $150 million
All of these are increases from 1st quarter a year ago and the previous quarter
Product Trend Highlights
1. Ball bonder unit volumes increased approximately 23% over the September quarter levels
2. Conversion to copper wire bonding continues to accelerate; total copper kit volumes increased 146% over the September quarter. The change from gold to copper should spur gains
3. Continued strong demand for ball bonders from the LED market
4. Heavy wire wedge bonder demand accelerated late in the quarter and is expected to be strong at least through the March quarter
5. First purchase order received for iStackPS(TM) die bonder in January 2010