---
schema_version: "secwatch.filing_event.v1"
accession: "0000056978-24-000042"
form_type: "8-K"
ticker: "KLIC"
cik: "0000056978"
company_name: "KULICKE & SOFFA INDUSTRIES INC"
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-05T00:09:43.476464+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Kulicke & Soffa expects $110M-$130M in pre-tax charges after customer cancels Project W

## Summary
- Strategic customer cancels advanced display project; company ceases operations and begins wind-down.
- Total pre-tax charges $110M-$130M: $49M-$53M inventory write-down, $44M-$48M long-lived asset impairments.
- Cash costs include $3M-$5M termination benefits, $8M-$13M contract termination, $6M-$11M other.
- Q2 FY2024 revenue guidance reaffirmed at $170M +/- $10M; cancellation reduces FY2024 revenue by ~$15M.
- Company refocusing R&D on Thermo-compression, Vertical Fan-Out, Automotive, and Dispense markets.

## SEC filing metadata
- accession: 0000056978-24-000042
- form_type: 8-K
- ticker: KLIC
- cik: 0000056978
- company_name: KULICKE & SOFFA INDUSTRIES INC
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 2.06, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/56978/000005697824000042/0000056978-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/56978/000005697824000042/klic-20240311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000056978-24-000042
- JSON: https://secwatch.observer/filing/0000056978-24-000042.json
- Plain text: https://secwatch.observer/filing/0000056978-24-000042.txt

## Key facts
- Restructurings & Charges
  KULICKE & SOFFA INDUSTRIES INC announced a restructuring with charges of $110 million and $130 million affecting advanced display market, Project W.
  - Type: restructuring
  - Charge: $110 million and $130 million
  - Affected area: advanced display market, Project W
  source text: on March 11, 2024, the Company committed to a plan to cease operational activities and commence wind down activities concerning various aspects of the Project, as a result of which the Company expects to incur pre-tax charges, including impairments, in the range of $110 million and $130 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/56978/000005697824000042/0000056978-24-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.