Yahoo Finance Why Kulicke and Soffa Industries Shares Jumped Today
What happened
Shares of Kulicke and Soffa Industries (NASDAQ: KLIC) have jumped today, up 21% as of 1:42 p.m. EST, after the company reported fiscal fourth-quarter results and announced guidance for the next quarter that easily topped analyst expectations.
So what
Revenue in the fiscal fourth quarter jumped 48% to $215.9 million, while the semiconductor packaging company's gross profit jumped 57% to $104.7 million. Net income came in at $36.6 million, or $0.51 per share. For full-year fiscal 2017, sales were $809 million, with net income of $112 million, or $1.55 per share.
Image source: Getty Images.
The company restructured its reportable segments during the quarter, introducing new "Capital Equipment" and "Aftermarket Products and Services" segments, and these changes did not result in any restructuring charges.
Now what
In a statement, CEO Dr. Fusen Chen said, "We have made many tactical and organizational improvements throughout fiscal year 2017 that enhance our collective ability to deliver long-term shareholder value. Broad industry expansion combined with our strong market positions and sizable new opportunities resulted in a dramatic demand increase over the same period in the prior year."
In terms of outlook, Kulicke and Soffa expects sales in the fiscal first quarter to be in the range of $185 million to $195 million, well ahead of the $162.7 million in sales that analysts were expecting.
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Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
