Kulicke & Soffa reports Q2 2024 net loss of $102.7M; Project W charges $105.5M

KULICKE & SOFFA INDUSTRIES INC

2024-Q2 EPS reported -$1.66 revenue$343,263,000

Q2 2024 net revenue $172.1M (flat YoY); GAAP net loss $102.7M, EPS -$1.83.
Non-GAAP net loss $53.2M, EPS -$0.95; significant YoY decline from positive earnings.
Pre-tax charges from Project W cancellation: $105.5M, below the $110-130M expected range.
GAAP gross margin 9.6% (down 3900 bps YoY); operating margin -61.1%.
Company emphasizes operational efficiency and increased share repurchase activity.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KULICKE & SOFFA INDUSTRIES INC reported second fiscal quarter ended March 30, 2024 results: revenue $172.1 million, net income net loss of $102.7 million, EPS $(1.83) per fully diluted share.

Period: second fiscal quarter ended March 30, 2024
Revenue: $172.1 million
Net income: net loss of $102.7 million
EPS: $(1.83) per fully diluted share
Result: reported results

Exact text from the filing

The Company reported second quarter net revenue of $172.1 million, net loss of $102.7 million, representing EPS of $(1.83) per fully diluted share, and non-GAAP net loss of $53.2 million, representing non-GAAP EPS of $(0.95) per fully diluted share.

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Source: SEC EDGAR

accession 0000056978-24-000062

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