The following is a summary of the Kulicke & Soffa Industries, Inc. (KLIC) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Kulicke & Soffa Industries reported Q2 2024 revenue of $172.1 million with a 9.6% gross margin.

• Following unique charges, the gross margin would've aligned with the previous quarter's figures.

• The report included pre-tax charges of $105.5 million due mainly to the cancellation of 'Project W'.

• An increase in open market repurchases by 40% was observed in Q2.

• An estimated Q3 revenue of $180 million with a 47% gross margin is anticipated.

Business Progress:

• Kulicke & Soffa have cancelled 'Project W' to redirect resources to strategic initiatives focusing on Memory, Advanced Dispense and Advanced Packaging solutions.

• They are expanding their business to high-precision dispense opportunities within the advanced packaging, battery assembly, and display markets.

• Their Thermocompression binding is gaining momentum and their book-to-bill for the quarter is approximately 1.

• A crucial 1000 unit order for their wire bonder from a China-based customer, focus on heterogeneous integration and shipments for Advanced Logic and Memory, as well as recovery in the NAND sector, point to promising business growth.

• With customer interest and inquiries on the rise, they expect high volume purchases in the future as well as a ramp in early FY25 due to increased demand and utilization rates.

More details: Kulicke & Soffa Industries IR

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