SINGAPORE – Kulicke and Soffa reported fiscal third quarter net revenue of $243.9 million, up 12.7% year-over-year and 22.2% sequentially.

For the period ended July 1, net income was $30.8 million, down 3.1% year-over-year and up 6.1% sequentially.

“We continue to benefit from the strong industry environment, improved market dynamics and new opportunities in our core business and expanding portfolio,” said Dr. Fusen Chen, Kulicke & Soffa's president and CEO. “In parallel, we remain focused on further enhancing exposure and alignment to several other meaningful near and long-term opportunities."

During the quarter, the firm incurred a one-time, non-cash impairment charge of $35.2 million, as well as a favorable foreign tax credit of $20.9 million.

The firm currently expects net revenue in the fiscal fourth quarter to be approximately $200 million to $215 million, a 42% improvement over the same period in the prior year.

K&S anticipates revenue for its full fiscal year 2017 to fall between $793 million and $808 million, an approximate 28% improvement over the prior fiscal year.

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