What happened
Shares of Kulicke & Soffa Industries (KLIC +2.62%) jumped today, up by 11% as of 3 p.m. EST, after the company reported fiscal first-quarter earnings. The company also said it has acquired Uniqarta.
So what
Revenue in the fiscal first quarter was $267.9 million, ahead of the $264.9 million in sales that Wall Street analysts were modeling for. That resulted in adjusted net income of $53.7 million, or $0.86 per share. The consensus estimate had called for just $0.75 per share in adjusted profits. The company, which provides capital equipment to the semiconductor industry, has acquired Uniqarta for its patent portfolio and intellectual property rights after previously working with Uniqarta to commercialize its LED die transfer technology.
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"Demand has increased significantly in the December quarter driven by strength in the general semiconductor, LED, and automotive markets," CEO Fusen Chen said in a statement. "Additionally, we have supported more complex, high-volume semiconductor assembly, which is increasing the capital intensity and longer-term opportunities within our served markets."
Now what
Guidance for the current quarter was also strong. Revenue is expected to be in the range of $280 million to $380 million, comfortably above Wall Street's forecast of $239.6 million. That should translate into adjusted earnings per share of $0.79 to $0.97, while analysts are only looking for $0.59 per share in adjusted earnings. Kulicke & Soffa intends to expand in its markets by supporting fundamental technology transitions in the display and automotive markets, according to Chen.
