Exhibit 99.1
logoa02a01a01a401a.jpg
K&S Corporate Headquarters
Kulicke & Soffa Pte Ltd
23A Serangoon North Ave 5
#01-01, Singapore 554369
+65-6880-9600 main
+65-6880-9580 fax
www.kns.com
Co. Regn. No. 199902120H
 
Kulicke & Soffa Reports Fourth Quarter 2020 Results
Singapore – November 18, 2020
– Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”, “K&S” or the “Company”), today announced financial results of its fourth fiscal quarter ended October 3, 2020. The Company reported fourth quarter net revenue of $177.7 million, net income of $15.8 million and non-GAAP net income of $18.0 million.
During its fourth fiscal quarter, K&S repurchased $8.8 million of common stock in open market transactions at an average price of $22.68 per share. The Company also recorded a quarterly dividend equivalent of $0.12 per share during its fourth fiscal quarter.
Quarterly Results - U.S. GAAP
 
Fiscal Q4 2020
 
Change vs.
Fiscal Q4 2019
Change vs.
Fiscal Q3 2020
Net Revenue$177.7 millionup 27.1%up 18.1%
Gross Profit$88.9 millionup 35.9%up 28.1%
Gross Margin50.0%up 320 bpsup 390 bps
Income from Operations$23.0 millionup 198.7%up 109.1%
Operating Margin12.9%up 740 bpsup 560 bps
Net Income$15.8 millionup 146.9%up 41.1%
Net Margin8.9%up 430 bpsup 150 bps
EPS – Diluted$0.25up 150%up 38.9%
Quarterly Results - Non-GAAP
Fiscal Q4 2020Change vs.
Fiscal Q4 2019
Change vs.
Fiscal Q3 2020
Income from Operations$25.2 millionup 126.2%up 96.9%
Operating Margin14.2%up 620 bpsup 570 bps
Net Income$18.0 millionup 93%up 39.5%
Net Margin10.1%up 340 bpsup 150 bps
EPS - Diluted$0.29up 107.1%up 38.1%
* A reconciliation of the GAAP and non-GAAP adjusted results is provided in the financial tables included in this release. See also “Use of non-GAAP Financial Results” section.

Fourth fiscal quarter tax expense of $8.0 million was associated with increased profitability and jurisdictional adjustments. The Company continues to target a long-term effective tax rate of 18%.

Fusen Chen, Kulicke & Soffa's President and Chief Executive Officer, stated, “During fiscal 2020, we entered into the emerging advanced-LED market, expanded advanced packaging engagements and returned $85 million through the repurchase and dividend programs. Our dedicated global workforce, financial position, and commitment to development have facilitated this progress despite the challenging macro-economic environment through fiscal 2020.”
1

The following information was filed by Kulicke Soffa Industries Inc (KLIC) on Thursday, November 19, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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