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Kulicke and Soffa Q2 net revenue $216.4 million

Staff Writer |
Kulicke and Soffa Industries announced results for its third fiscal quarter ended July 2, 2016. Net revenue was $216.4 million and gross margin 46.2%.

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Net income was $31.8 million or $0.45 per share. Cash and cash equivalents were $516.1 million as of July 2, 2016.

7.9 million shares had been repurchased since the stock repurchase program's August 2014 initiation, equivalent to 10.1% of weighted average shares outstanding at the program's inception.

Jonathan Chou, interim chief executive officer, chief financial officer, sisd, "The strong June quarter's results marked the second steep sequential increase in our business driven by meaningful ramps within our ball and wedge bonding businesses and continued strength within our advanced packaging offerings."

Kulicke and Soffa also continues to gain traction with its new APAMA offerings, which support the next generation of advanced packaging technology.

To date Kulicke and Soffa has received three purchase orders for its APAMA advanced packaging solutions; during its third fiscal quarter the Company has recognized revenue for its second order.

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