Kulicke & Soffa Industries Inc. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Kulicke & Soffa Industries Inc. filed its Q1 2024 10-Q report, detailing financial performance for the quarter ending December 30, 2023.</b>

AI Summary

KULICKE & SOFFA INDUSTRIES INC (KLIC) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. Kulicke & Soffa Industries Inc. reported financial results for the quarter ended December 30, 2023. The filing covers the period from October 1, 2023, to December 30, 2023. The company's fiscal year ends on September 28. The filing is a 10-Q, indicating a quarterly report. The company is incorporated in Pennsylvania and its SIC code is 3674 (Semiconductors & Related Devices).

Why It Matters

For investors and stakeholders tracking KULICKE & SOFFA INDUSTRIES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and making informed investment decisions. Understanding the segment performance and financial health detailed in this report is key to evaluating Kulicke & Soffa's position within the semiconductor industry.

Risk Assessment

Risk Level: medium — KULICKE & SOFFA INDUSTRIES INC shows moderate risk based on this filing. The company operates in the semiconductor industry, which is subject to cyclical demand and rapid technological changes, posing inherent risks to revenue and profitability.

Analyst Insight

Monitor upcoming earnings reports and industry trends to assess the impact of semiconductor market dynamics on Kulicke & Soffa's future performance.

Key Numbers

• 2023-12-30 — Quarter End Date (Period covered by the 10-Q)
• 2024-02-01 — Filing Date (Date the 10-Q was filed)
• 0928 — Fiscal Year End (Company's fiscal year end)
• Q1 2024 — Reporting Quarter (The quarter being reported)

Key Players & Entities

• KULICKE & SOFFA INDUSTRIES INC (company) — Filer
• 20231230 (date) — Conformed Period of Report
• 20240201 (date) — Filed as of date
• PA (location) — State of Incorporation
• 23A SERANGOON NORTH AVENUE 5, #01-01 (address) — Business Address
• SINGAPORE (location) — Business Address City
• 2157846000 (phone) — Business Phone
• 3674 (sic_code) — Standard Industrial Classification

Forward-Looking Statements

• Kulicke & Soffa Industries Inc. will likely maintain a stable capital structure in the near term, given the consistent common stock and treasury stock balances reported. (Kulicke & Soffa Industries Inc.) — medium confidence, target: 2024-09-28

FAQ

Risk Factors

• Market Conditions [high — market]: The semiconductor industry is subject to rapid technological changes and cyclical demand, which can impact the company's sales and profitability.
• Supply Chain Disruptions [medium — operational]: Disruptions in the global supply chain can affect the company's ability to procure components and manufacture its products, potentially impacting delivery schedules and costs.
• Foreign Currency Fluctuations [medium — financial]: As a global company, Kulicke & Soffa is exposed to fluctuations in foreign currency exchange rates, which can affect its financial results.

Key Dates

• 2023-12-30: Quarter End — End of the reporting period for the 10-Q.
• 2024-02-01: Filing Date — Date the 10-Q was officially filed with the SEC.

Filing Documents

• klic-20231230.htm (10-Q) — 1202KB
• a10qq12024ex311.htm (EX-31.1) — 12KB
• a10qq12024ex312.htm (EX-31.2) — 11KB
• a10qq12024ex321.htm (EX-32.1) — 6KB
• a10qq12024ex322.htm (EX-32.2) — 5KB
• 0000056978-24-000034.txt (&nbsp;) — 7129KB
• klic-20231230.xsd (EX-101.SCH) — 54KB
• klic-20231230_cal.xml (EX-101.CAL) — 89KB
• klic-20231230_def.xml (EX-101.DEF) — 179KB
• klic-20231230_lab.xml (EX-101.LAB) — 664KB
• klic-20231230_pre.xml (EX-101.PRE) — 413KB
• klic-20231230_htm.xml (XML) — 1134KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

Item 1. FINANCIAL STATEMENTS (Unaudited) Consolidated Condensed Balance Sheets as of December 30, 2023 and September 30, 2023 1 Consolidated Condensed Statements of Operations for the three months ended December 30, 2023 and December 31, 2022 2 Consolidated Condensed Statements of Comprehensive Income for the three months ended December 30, 2023 and December 31, 2022 3 Consolidated Condensed Statements of Changes in Shareholders' Equity for the three months ended December 30, 2023 and December 31, 2022 4 Consolidated Condensed Statements of Cash Flows for the three months ended December 30, 2023 and December 31, 2022 5 Notes to Consolidated Condensed Financial Statements 6

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 36

CONTROLS AND PROCEDURES 37

Item 4. CONTROLS AND PROCEDURES 37

- OTHER INFORMATION

PART II - OTHER INFORMATION

LEGAL PROCEEDINGS 38

Item 1. LEGAL PROCEEDINGS 38

RISK FACTORS 38

Item 1A. RISK FACTORS 38

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 38

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 38

DEFAULTS UPON SENIOR SECURITIES 39

Item 3. DEFAULTS UPON SENIOR SECURITIES 39

MINE SAFETY DISCLOSURES 39

Item 4. MINE SAFETY DISCLOSURES 39

OTHER INFORMATION 39

Item 5. OTHER INFORMATION 39

EXHIBITS 40

Item 6. EXHIBITS 40 SIGNATURES 41 Table of Contents

- FINANCIAL INFORMATION

PART I. - FINANCIAL INFORMATION

– FINANCIAL STATEMENTS

Item 1. – FINANCIAL STATEMENTS KULICKE AND SOFFA INDUSTRIES, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (in thousands) As of December 30, 2023 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 424,660 $ 529,402 Short-term investments 285,000 230,000 Accounts and other receivable, net of allowance for doubtful accounts of $ 49 and $ 49 , respectively 184,400 158,601 Inventories, net 236,558 217,304 Prepaid expenses and other current assets 47,035 53,751 Total current assets 1,177,653 1,189,058 Property, plant and equipment, net 107,273 110,051 Operating right-of-use assets 45,797 47,148 Goodwill 89,516 88,673 Intangible assets, net 28,916 29,357 Deferred tax assets 32,139 31,551 Equity investments 2,042 716 Other assets 3,390 3,223 TOTAL ASSETS $ 1,486,726 $ 1,499,777 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 58,682 49,302 Operating lease liabilities 6,697 6,574 Income taxes payable 24,716 22,670 Accrued expenses and other current liabilities 91,193 103,005 Total current liabilities 181,288 181,551 Deferred tax liabilities 37,174 37,264 Income taxes payable 53,145 52,793 Operating lease liabilities 41,720 41,839 Other liabilities 12,148 11,769 TOTAL LIABILITIES $ 325,475 $ 325,216 Commitments and contingent liabilities (Note 15) Shareholders' equity: Preferred stock, without par value: Authorized 5,000 shares; issued - no ne $ — $ — Common stock, without par value: Authorized 200,000 shares; issued 85,364 and 85,364 , respectively; outstanding 56,495 and 56,310 shares, respectively 578,479 577,727 Treasury stock, at cost, 28,869 and 29,054 shares, respectively ( 756,949 ) ( 737,214 ) Retained earnings 1,353,800 1,355,810 Accumulated other comprehensive loss ( 14,079 ) ( 21,762 ) TOTAL SHAREHOLDERS' EQUITY $ 1,161,251 $ 1,174,561 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,486,726 $ 1,499,777 The accompanying notes are an integral part of these

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