Kulicke & Soffa Industries Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Kulicke & Soffa Industries Inc. has filed its Q2 2024 10-Q report.</b>

AI Summary

KULICKE & SOFFA INDUSTRIES INC (KLIC) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Kulicke & Soffa Industries Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the fiscal second quarter of 2024. The company's fiscal year ends on September 28. The filing was made on May 2, 2024. The company's 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 financial performance and operational updates for Kulicke & Soffa Industries Inc. during the second quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance in the semiconductor industry.

Risk Assessment

Risk Level: low — KULICKE & SOFFA INDUSTRIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Monitor future earnings reports and investor calls for detailed financial performance and strategic outlook.

Key Numbers

• 2024-03-30 — Reporting Period End Date (Conformed period of report)
• 2024-05-02 — Filing Date (Filed as of date)
• Q2 2024 — Fiscal Quarter (Indicates the reporting quarter)
• 0928 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• KULICKE & SOFFA INDUSTRIES INC (company) — Filer name
• 2024-03-30 (date) — Conformed period of report
• 2024-05-02 (date) — Filed as of date
• 3674 (industry_code) — Standard Industrial Classification
• PA (state) — State of incorporation
• 23A SERANGOON NORTH AVENUE 5, #01-01 (address) — Business address
• SINGAPORE (location) — Business address city
• 2157846000 (phone) — Business phone

FAQ

Industry Context

Kulicke & Soffa Industries Inc. operates within the semiconductor equipment manufacturing industry, providing advanced packaging and electronic assembly solutions.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance and revenue trends in subsequent filings.
3. Compare financial metrics against industry peers and historical performance.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending March 30, 2024. Comparative data from previous filings will be available in subsequent reports.

Filing Documents

• klic-20240330.htm (10-Q) — 1558KB
• a10qq22024ex311.htm (EX-31.1) — 12KB
• a10qq22024ex312.htm (EX-31.2) — 11KB
• a10qq22024ex321.htm (EX-32.1) — 6KB
• a10qq22024ex322.htm (EX-32.2) — 5KB
• 0000056978-24-000064.txt (&nbsp;) — 8139KB
• klic-20240330.xsd (EX-101.SCH) — 56KB
• klic-20240330_cal.xml (EX-101.CAL) — 95KB
• klic-20240330_def.xml (EX-101.DEF) — 185KB
• klic-20240330_lab.xml (EX-101.LAB) — 625KB
• klic-20240330_pre.xml (EX-101.PRE) — 428KB
• klic-20240330_htm.xml (XML) — 1427KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

Item 1. FINANCIAL STATEMENTS (Unaudited) Consolidated Condensed Balance Sheets as of March 30, 2024 and September 30, 2023 1 Consolidated Condensed Statements of Operations for the three and six months ended March 30, 2024 and April 1, 2023 2 Consolidated Condensed Statements of Comprehensive Income for the three and six months ended March 30, 2024 and April 1, 2023 3 Consolidated Condensed Statements of Changes in Shareholders' Equity for the three and six months ended March 30, 2024 and April 1, 2023 4 Consolidated Condensed Statements of Cash Flows for the six months ended March 30, 2024 and April 1, 2023 6 Notes to Consolidated Condensed Financial Statements 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 29

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 29

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 43

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 43

CONTROLS AND PROCEDURES 44

Item 4. CONTROLS AND PROCEDURES 44

- OTHER INFORMATION

PART II - OTHER INFORMATION

LEGAL PROCEEDINGS 45

Item 1. LEGAL PROCEEDINGS 45

RISK FACTORS 45

Item 1A. RISK FACTORS 45

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 46

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 46

DEFAULTS UPON SENIOR SECURITIES 46

Item 3. DEFAULTS UPON SENIOR SECURITIES 46

MINE SAFETY DISCLOSURES 46

Item 4. MINE SAFETY DISCLOSURES 46

OTHER INFORMATION 46

Item 5. OTHER INFORMATION 46

EXHIBITS 47

Item 6. EXHIBITS 47 SIGNATURES 48 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 March 30, 2024 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 359,748 $ 529,402 Short-term investments 275,000 230,000 Accounts and other receivable, net of allowance for doubtful accounts of $ 49 and $ 49 , respectively 194,819 158,601 Inventories, net 180,541 217,304 Prepaid expenses and other current assets 40,309 53,751 Total current assets 1,050,417 1,189,058 Property, plant and equipment, net 65,003 110,051 Operating right-of-use assets 36,653 47,148 Goodwill 89,082 88,673 Intangible assets, net 27,139 29,357 Deferred tax assets 18,101 31,551 Equity investments 2,254 716 Other assets 10,058 3,223 TOTAL ASSETS $ 1,298,707 $ 1,499,777 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 51,487 49,302 Operating lease liabilities 7,021 6,574 Income taxes payable 17,102 22,670 Accrued expenses and other current liabilities 90,126 103,005 Total current liabilities 165,736 181,551 Deferred tax liabilities 36,377 37,264 Income taxes payable 36,647 52,793 Operating lease liabilities 34,307 41,839 Other liabilities 13,463 11,769 TOTAL LIABILITIES $ 286,530 $ 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 55,750 and 56,310 shares, respectively 584,626 577,727 Treasury stock, at cost, 29,614 and 29,054 shares, respectively ( 794,193 ) ( 737,214 ) Retained earnings 1,239,956 1,355,810 Accumulated other comprehensive loss ( 18,212 ) ( 21,762 ) TOTAL SHAREHOLDERS' EQUITY $ 1,012,177 $ 1,174,561 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,298,707 $ 1,499,777 The accompanying notes are an integral part of these

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