Kulicke And Soffa Q3 Profit Down - Quick Facts

(RTTNews) - Kulicke and Soffa Industries, Inc. (KLIC), Tuesday reported a decrease in net income for the third quarter, reflecting lower revenues across its segments.

For the three-month period, the company reported net income of $18.8 million or $0.25 per share compared with $68.1 million or $0.90 per share during the same quarter last year.

On average, two analysts polled by Thomson Reuters expected the company to report profit of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.

The company reported total net revenues of $141.1 million, a 44.7 percent decrease from $255.5 million a year ago. The Street estimated the company to report revenues of $127.5 million for the quarter.

For the fourth quarter, the company expects net revenues to be about $175 million - $185 million. Analysts expect the company to report revenues of $190 million.

Looking forward, President and Chief Executive Officer Bruno Guilmart commented, "In addition to the revenue opportunities around the copper transition, demand has strengthened in the mobile device and memory segments. We also see increasing volumes from local customers in emerging markets, which further diversifies our revenue profile."