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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