Brief: Kulicke And Soffa Industries-Committed To Plan To Cease Operational Activities & Commence Wind Down Activities Concerning Various Aspects Of Project W

Kulicke And Soffa Industries

11/03/2024 22:35

March 11 (Reuters) - Kulicke and Soffa Industries Inc
 KLIC.O :
    * KULICKE AND SOFFA INDUSTRIES-COMMITTED TO PLAN TO CEASE
OPERATIONAL ACTIVITIES & COMMENCE WIND DOWN ACTIVITIES
CONCERNING VARIOUS ASPECTS OF PROJECT W
    * KULICKE AND SOFFA INDUSTRIES: DUE TO WIND DOWN, SEES TO
INCUR
PRE-TAX CHARGES, INCLUDING IMPAIRMENTS, IN RANGE OF $110 MILLION
AND $130 MILLION
    * KULICKE AND SOFFA INDUSTRIES-COMPANY EXPECTS TO COMPLETE
MAJORITY OF ITS WIND DOWN ACTIVITIES BY THE END OF FISCAL YEAR
2024 RELATED TO PROJECT W
    * KULICKE AND SOFFA INDUSTRIES-COMPANY CONTINUES TO
ANTICIPATE
TOTAL REVENUE OF $170 MILLION, +/- $10 MILLION, DURING THE
SECOND FISCAL QUARTER OF 2024
    * KULICKE AND SOFFA INDUSTRIES-COMPANY ANTICIPATES
CANCELLATION OF
THE PROJECT WILL REDUCE ITS FISCAL YEAR 2024 REVENUE BY ABOUT
$15 MILLION
    * KULICKE AND SOFFA INDUSTRIES: PLANS TO RECOGNIZE NON-CASH
INVENTORY WRITE-DOWN &IMPAIRMENT CHARGES IN Q2 OF 2024

Source text for Eikon:  ID:n0000056978-24-000042 
Further company coverage:  KLIC.O