KULICKE AND SOFFA INDUSTRIES Reports Third Quarter Earnings Results for FY2023
August 21, 2023
🌥️Earnings Overview
KULICKE AND SOFFA INDUSTRIES ($NASDAQ:KLIC) announced their third quarter FY2023 financial results on August 8 2023, with total revenue of USD 190.9 million, representing a 48.7% decrease year-over-year. Net income was USD 4.2 million, a 96.5% decrease compared to the same quarter in the prior year.
Market Price
The stock opened at $55.2, and closed at the same price, down by 1.5% from last closing price of $56.0. This news came as a surprise to shareholders as analysts had previously predicted the stock to increase in value. This is an impressive feat considering the current economic climate and the difficulties many companies have been experiencing in the past year due to the pandemic. KULICKE AND SOFFA INDUSTRIES has shown a remarkable resilience in the face of such challenges. It is clear that KULICKE AND SOFFA INDUSTRIES are committed to providing their shareholders with strong returns and are not shying away from the challenges facing them.
They have demonstrated a successful strategy of diversifying their product portfolio and cutting costs to remain profitable despite the current market environment. Shareholders are hopeful that KULICKE AND SOFFA INDUSTRIES will continue to succeed and deliver strong returns in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for KLIC. More…
| Total Revenues | Net Income | Net Margin |
| 826.48 | 98.69 | 14.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for KLIC. More…
| Operations | Investing | Financing |
| 212.47 | -94.27 | -162.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for KLIC. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.51k | 338.41 | 20.71 |
Key Ratios Snapshot
Some of the financial key ratios for KLIC are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.2% | 35.6% | 13.9% |
| FCF Margin | ROE | ROA |
| 19.9% | 6.1% | 4.8% |
Analysis
At GoodWhale, we use our Star Chart system to analyze the fundamentals of KULICKE AND SOFFA INDUSTRIES. According to our analysis, KULICKE AND SOFFA INDUSTRIES is classified as ‘rhino’, which indicates that the company has achieved moderate revenue or earnings growth. We believe that this makes it an interesting investment opportunity for value investors. Although KULICKE AND SOFFA INDUSTRIES has relatively weak growth, its financial health score of 10/10 indicates that it is in a strong financial position and capable of sustaining future operations even in times of crisis. In particular, its strong asset, dividend, and profitability scores are particularly noteworthy. Overall, KULICKE AND SOFFA INDUSTRIES looks like a promising investment opportunity for value investors who are looking for companies with solid financial health and moderate growth. More…
Peers
Its competitors are Ultra Clean Holdings Inc, ASM International NV, Amtech Systems Inc.
– Ultra Clean Holdings Inc ($NASDAQ:UCTT)
Ultra Clean Holdings Inc is a leading provider of critical sub-systems and components for the semiconductor and display capital equipment industries. The company has a market cap of 1.59B as of 2022 and a Return on Equity of 10.0%. The company’s products are used in the fabrication of semiconductor chips and flat panel displays.
– ASM International NV ($OTCPK:ASMIY)
ASM International NV is a global company that provides materials science solutions. It has a market cap of 13.16B as of 2022 and a return on equity of 19.23%. The company offers products and services for semiconductor and other advanced materials industries. Its products include equipment, services, and software. The company serves customers in more than 60 countries worldwide.
– Amtech Systems Inc ($NASDAQ:ASYS)
Amtech Systems Inc is a global leader in the design and manufacture of solar power systems. They provide turnkey solutions for the solar power industry, including the design, engineering, and manufacturing of solar power equipment. Their products are used in a variety of applications, including residential, commercial, and industrial solar power systems. Amtech’s mission is to provide renewable energy solutions that improve the quality of life for people around the world.
Summary
KULICKE AND SOFFA INDUSTRIES reported a significant decline in revenue and net income for the third quarter of FY2023. Revenue dropped 48.7% year-on-year to USD 190.9 million, while net income decreased 96.5% to USD 4.2 million compared to the prior year quarter. These figures raise concerns for investors, as lower earnings could indicate a weakened profitability outlook for the company. Investors should closely monitor the company’s financial statements and developments in order to determine if KULICKE AND SOFFA INDUSTRIES is a good investment opportunity.
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