From Nasdaq: 2024-11-15 11:56:00

Kulicke and Soffa Industries reported fourth-quarter fiscal 2024 non-GAAP earnings of 34 cents per share, missing estimates by 5.56% with a 33.3% year-over-year drop. Revenues declined 10.4% to $181.3 million but beat estimates by 0.73%. The stock has declined 16.6% this year.

In terms of end-markets, General Semiconductor revenues grew 11%, Automotive and Industrial rose 42.3%, LED revenues were weak, Memory segment grew significantly, and APS segment declined slightly.

Operating details show a 100 bps gross margin expansion but a 51.7% non-GAAP operating income drop. Balance sheet stats include $577.1 million in cash and $31.6 million in operating cash flow.

For Q1 fiscal 2025, net revenues are expected at $165 million, with non-GAAP operating expenses increasing to $70.5 million. Non-GAAP earnings are forecasted at 28 cents per share.

Kulicke & Soffa holds a Zacks Rank #3. Better-ranked stocks include NVIDIA, Dell Technologies, and Workday. NVIDIA is a Zacks Rank #1, Dell and Workday are Zacks Rank #2. NVIDIA is set to report Q3 results on Nov. 20.

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Read more at Nasdaq: Kulicke and Soffa Q4 Earnings Miss Estimates, Revenues Decrease Y/Y