Kulicke and Soffa plunges after Q1 2023 forecast below expectations

Kulicke And Soffa Industries

16/11/2022 22:24

** Shares in Kulicke and Soffa Industries Inc  KLIC.O  down
12.2% at $40 in extended trading
    ** Co projects Q1 2023 revenue, non-GAAP EPS forecast below
expectations 
    ** 'due to a combination of macro and industry related
factors, K&S continues to anticipate a period of capacity
digestion for its high-volume assembly solutions over the coming
quarters" - co
    ** KLIC sees Q1 revenue to be about $175 mln, +/- $20 mln vs
analysts' expectations of $244.4 mln - Refinitiv
    ** Co expects Q1 non-GAAP EPS to be 20 cents per share, +/-
10% vs estimates of 81 cents 
    ** KLIC reports a fall in Q4 2022 net revenue and net
income, but still beat analysts' estimates 
    ** Up to Wednesday's close, stock had fallen ~25% this year
 (Reporting by Granth Vanaik)
 ((Granth.Vanaik@thomsonreuters.com;))