The following is a summary of the Kulicke & Soffa Industries, Inc. (KLIC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Kulicke & Soffa industries reported Q1 revenue of $171.2 million, with a gross margin of 46.7%, slightly above the guidance midpoint.

• GAAP net income came in at $9.3 million and non-GAAP earnings per share were 30 cents.

• Non-GAAP operating expenses were at $69.8 million, slightly above expectations.

• The Company repurchased $26.8 million of shares during the quarter and raised its quarterly dividend to $20 per share yielding nearly 1.6%.

• Despite market softness, the company projects approximately $170 million in revenue for the March quarter.

Business Progress:

• The strategic initiatives hinge on three key businesses: Ball Bonding, Advanced Packaging, and Advanced Display.

• A return to an above-average industry growth rate is anticipated by fiscal year-end, with increasing demand projected in the second half of 2024.

• Noteworthy progress has been made in the Advanced Dispense business, while the demand for their leading NAND solutions in memory has significantly improved.

• Though initial weak, a recovery in the Ball Bonder business is expected in the latter half, especially as the utilization rate in China increases.

• The company anticipates sustained favorable industry conditions into 2025 as they continue to expand their market positions.

More details: Kulicke & Soffa Industries IR

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