LONDON, UK / ACCESSWIRE / June 29, 2018 / If you want access to our free earnings report on Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=KLIC. On May 31, 2018, Kulicke and Soffa ("K&S") reported financial results for the second quarter of 2018 ending March 31, 2018. The Company surpassed analysts' estimates for revenue as well as earnings in Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
K&S's net revenues reached $221.77 million for Q2 FY18, reflecting an increase of 11.10% from $199.61 million in Q2 FY17. The reported revenue number exceeded analysts' consensus estimate by $4.68 million.
During Q2 FY18, K&S's cost of sales was $122.33 million, 13.95% higher than $107.35 million in Q2 FY17. The Company's gross profit increased 7.79% to $99.45 million in the quarter under review from $92.26 million in the year ago corresponding quarter.
In the reported quarter, K&S incurred total operating expenses of $61.01 million, up 9.42% from $55.76 million in the previous year's same quarter. In Q2 FY18, the Company's selling, general, and administrative (SG&A) expenses increased 4.23% to $30.34 million on a y-o-y basis, while research and development (R&D) expenses jumped 14.54% to $28.66 million on a y-o-y basis. K&S reported an income from operations of $38.44 million in Q2 FY18, 5.30% higher than $36.50 million in Q2 FY17.
K&S had a net income of $36.31 million in the quarter ending March 31, 2018, an increase of 11.15% from $32.67 million in the same period last year. The Company's diluted earnings per share (DEPS) also rose 13.33% to $0.51 in the reported quarter from $0.45 in the prior year's same quarter. The reported earnings included amortization related to intangible assets acquired through business combination and restructuring expenses. K&S's adjusted DEPS, excluding these non-recurring items, was $0.54 in Q2 FY18, up 14.89% from $0.47 in Q2 FY17. This surpassed analysts' consensus estimates by $0.04 per share.
K&S had cash and cash equivalents of$340.15 million as on March 31, 2018, a decrease of 13.32% from $392.41 million as on September 30, 2017.
K&S' cash flow from operating activities for the three months ending March 31, 2018, was $6.74 million compared to $12.93 million in the same period last year.
During Q2 FY18, K&S repurchased $21.50 million of common stock in open market transactions at an average price of $23.90 per share.
For the third fiscal quarter of 2018 ending June 30, 2018, K&S expects revenue to be in the range of $255 million to $270 million. For the first three quarters of 2018, this guidance represents an increase of 17.60% over the same period in the prior year.
Stock Performance Snapshot
June 28, 2018 - At Thursday's closing bell, Kulicke and Soffa Industries' stock slightly climbed 0.77%, ending the trading session at $23.57.
Volume traded for the day: 683.16 thousand shares.
Stock performance in the last month - up 2.88%; and past twelve-month period - up 17.73%
After yesterday's close, Kulicke and Soffa Industries' market cap was at $1.60 billion.
Price to Earnings (P/E) ratio was at 10.95.
The stock has a dividend yield of 2.04%.
The stock is part of the Technology sector, categorized under the Semiconductor Equipment & Materials industry. This sector was up 1.0% at the end of the session.
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