SINGAPORE – Kulicke and Soffa Industries reported fiscal third quarter net revenue of $424.3 million, up 182% year-over-year and 24.7% sequentially.

For the quarter ended July 3, net income was $113.8 million, up 916.1% compared to the fiscal third quarter of 2020 and 59.6% sequentially. Income from operations was $120.5 million, an increase of nearly 1,000% year-over-year and 45% sequentially.

“Fast-growing end-applications such as 5G, artificial intelligence and connected devices, combined with a technology-driven increase of capital intensity across our served markets, have enabled a new higher level of profitability," said Fusen Chen, president and CEO, K&S.

Cash, cash equivalents, and short-term investments were $635 million as of July 3.

For the first three quarters of fiscal 2021, net revenue was $1.03 billion, growth of 131.7% year-over-year. Net income was $233.5 million, an increase of 539.3% compared to the same period in 2020, and income from operations was $257.6 million, up 626.5%.

The company currently expects net revenue in the fiscal fourth quarter ending Oct. 2 to be approximately $465 million +/- $20 million.

“Over the coming quarters, we expect capacity needs across our broad customer base to continue expanding aggressively. Additionally, recent adoption of our new systems are directly supporting several long-term and distinct technology transitions within the semiconductor, automotive, and advanced display markets, further enhancing our long-term growth prospects."

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