kulicke & soffa industries (KLIC) Snapshot

Kulicke and Soffa Industries, Inc. announced that on June 4, 2013, Barry Waite notified MacDonell Roehm, Jr., the Chairman of the Board of Directors of the company, that given the time constraints of his other professional and personal activities he had decided that it was in the best interests of the Company if he resigned from his position as a director of the Company effective at the end of fiscal year 2013. Mr. Waite's resignation will be effective September 30, 2013.

Kulicke and Soffa Industries, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended March 30, 2013. For the quarter, the company reported total revenues of $106.110 million, total income from operations of $8.190 million, income from operations before income taxes of $8.377 million, net income of $7.336 million or $0.10 per diluted share compared to the total revenues of $146.308 million, total income from operations of $20.242 million, income from operations before income taxes of $18.233 million, net income of $16.617 million or $0.22 per diluted share for the same quarter year ago. Net cash used in operating activities was $1.662 million compared to the net cash provided by operating activities of $23.064 million for the same quarter year ago. For the six months period, the company reported total revenues of $220.149 million, total income from operations of $12.395 million, income from operations before income taxes of $12.756 million, net income of $10.940 million or $0.14 per diluted share compared to the total revenues of $266.332 million, total income from operations of $32.618 million, income from operations before income taxes of $28.717 million, net income of $25.124 million or $0.33 per diluted share for the same period year ago. Net cash provided by operating activities was $56.832 million compared to the $56.902 million for the same period year ago. The company expects net revenue in the third fiscal quarter of 2013 ending June 29, 2013 to be approximately $120 million to $130 million. The company continue to target long-term effective tax rate at 10%. For the June quarter The company expects CAPEX to be about $10.0 million and, for the September quarter, to be about $13.0 million. This increase is primarily due to one-time incremental $14 million to cover leasehold improvement of new leased facility.

Kulicke and Soffa Industries, Inc. has signed a 13-year deal to relocate its regional headquarters from Irvine to Santa Ana. The company has leased 66,538 square feet in Irvine Corporate Center, a two-story office building at 1821 E. Dyer Road in Santa Ana. Kulicke & Soffa is expected to move in by this summer after it completes construction on office and lab space.