Kulicke & Soffa Industries Inc. Files Q3 2024 10-Q

TL;DR

KULICKE & SOFFA 10-Q FILED: Q3 2024 RESULTS ARE IN.

AI Summary

Kulicke & Soffa Industries Inc. reported its Q3 2024 results for the period ending June 29, 2024. The company's fiscal year ends on September 28. This 10-Q filing provides an update on their financial performance and position.

Why It Matters

This filing provides investors with the latest financial performance data for Kulicke & Soffa Industries Inc., crucial for understanding the company's current health and future prospects in the semiconductor industry.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Players & Entities

• KULICKE & SOFFA INDUSTRIES INC (company) — Filer
• 20240629 (date) — Period of Report
• 20240807 (date) — Filed as of Date
• SINGAPORE (location) — Business Address City

FAQ

Filing Documents

• klic-20240629.htm (10-Q) — 1575KB
• a10qq32024ex311.htm (EX-31.1) — 12KB
• a10qq32024ex312.htm (EX-31.2) — 11KB
• a10qq32024ex321.htm (EX-32.1) — 6KB
• a10qq32024ex322.htm (EX-32.2) — 5KB
• 0000056978-24-000099.txt ( ) — 8023KB
• klic-20240629.xsd (EX-101.SCH) — 54KB
• klic-20240629_cal.xml (EX-101.CAL) — 93KB
• klic-20240629_def.xml (EX-101.DEF) — 174KB
• klic-20240629_lab.xml (EX-101.LAB) — 621KB
• klic-20240629_pre.xml (EX-101.PRE) — 419KB
• klic-20240629_htm.xml (XML) — 1366KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS (Unaudited)

Item 1. FINANCIAL STATEMENTS (Unaudited) Consolidated Condensed Balance Sheets as of June 29, 2024 and September 30, 2023 1 Consolidated Condensed Statements of Operations for the three and nine months ended June 29, 2024 and July 1, 2023 2 Consolidated Condensed Statements of Comprehensive Income for the three and nine months ended June 29, 2024 and July 1, 2023 3 Consolidated Condensed Statements of Changes in Shareholders' Equity for the three and nine months ended June 29, 2024 and July 1, 2023 4 Consolidated Condensed Statements of Cash Flows for the nine months ended June 29, 2024 and July 1, 2023 6 Notes to Consolidated Condensed Financial Statements 7

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 26

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 39

CONTROLS AND PROCEDURES 40

Item 4. CONTROLS AND PROCEDURES 40

- OTHER INFORMATION

PART II - OTHER INFORMATION

LEGAL PROCEEDINGS 41

Item 1. LEGAL PROCEEDINGS 41

RISK FACTORS 41

Item 1A. RISK FACTORS 41

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 43

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 43

DEFAULTS UPON SENIOR SECURITIES 43

Item 3. DEFAULTS UPON SENIOR SECURITIES 43

MINE SAFETY DISCLOSURES 43

Item 4. MINE SAFETY DISCLOSURES 43

OTHER INFORMATION 43

Item 5. OTHER INFORMATION 43

EXHIBITS 44

Item 6. EXHIBITS 44 SIGNATURES 45 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 June 29, 2024 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 366,917 $ 529,402 Short-term investments 235,000 230,000 Accounts and other receivable, net of allowance for doubtful accounts of $ 49 and $ 49 , respectively 200,320 158,601 Inventories, net 175,551 217,304 Prepaid expenses and other current assets 35,300 53,751 Total current assets 1,013,088 1,189,058 Property, plant and equipment, net 64,536 110,051 Operating right-of-use assets 35,875 47,148 Goodwill 88,933 88,673 Intangible assets, net 25,744 29,357 Deferred tax assets 16,983 31,551 Equity investments 2,900 716 Other assets 9,156 3,223 TOTAL ASSETS $ 1,257,215 $ 1,499,777 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable 52,145 49,302 Operating lease liabilities 7,128 6,574 Income taxes payable 16,725 22,670 Accrued expenses and other current liabilities 89,979 103,005 Total current liabilities 165,977 181,551 Deferred tax liabilities 35,705 37,264 Income taxes payable 35,639 52,793 Operating lease liabilities 32,524 41,839 Other liabilities 13,832 11,769 TOTAL LIABILITIES $ 283,677 $ 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 54,823 and 56,310 shares, respectively 590,915 577,727 Treasury stock, at cost, 30,541 and 29,054 shares, respectively ( 838,803 ) ( 737,214 ) Retained earnings 1,241,235 1,355,810 Accumulated other comprehensive loss ( 19,809 ) ( 21,762 ) TOTAL SHAREHOLDERS' EQUITY $ 973,538 $ 1,174,561 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,257,215 $ 1,499,777 The accompanying notes are an integral part of these c

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