NEW YORK (AP) -- Kulicke & Soffa posted a 3.6 percent decline in third-quarter net income, but revenue at company, which makes equipment to produce semiconductors, beat its own expectations and shares rose 10 percent.
Net income was $68.2 million, or 90 cents per share, for the quarter that ended June 30. That was down from $70.7 million, or 95 cents per share, during the same period last year.
Revenue, a volatile measure for the company, fell 13 percent to $256 million from a year ago, but it beat the company's estimate of $220 million to $240 million.
Shares of the Singapore company rose $1.01 to $10.84 in morning trading.
The company said it expects fourth-quarter revenue of $250 million to $270 million.
Kulicke & Soffa Industries Inc. is a leader in the area of machines that bond wires to chips.
The company repaid its last, $110 million debt obligation on June 1 and is now debt-free. That will save it $8 million a year in interest expenses.
