Kulicke and Soffa Industries, a company that designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices, has recently released its 10-K report. The company operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services. It offers a range of equipment and solutions primarily to semiconductor device manufacturers, integrated device manufacturers, and other electronics manufacturers in the United States and the Asia/Pacific region.
In its 10-K report, Kulicke and Soffa Industries provides a detailed overview of its business, including its operations, key events, business environment, technology leadership, products, and services. The report also delves into the company's critical accounting policies and estimates, including revenue recognition, allowance for doubtful accounts, inventories, accounting for impairment of goodwill, income taxes, and equity-based compensation.
The report highlights the company's financial performance for fiscal 2024 and 2023. It reveals that the net revenue for fiscal 2024 was $706,232, a decrease of 4.9% compared to $742,491 in fiscal 2023. The cost of sales increased by 14.0% to $437,478 in fiscal 2024 from $383,836 in fiscal 2023, leading to a gross profit of $268,754, down 25.1% from the previous year. The company reported a loss from operations of $92,496 in fiscal 2024, a significant decrease from the income of $39,437 in fiscal 2023.
Additionally, the report discusses the company's bookings and backlog, which consist of customer orders scheduled for shipment within the next twelve months. It explains that bookings are recorded when customer orders meet certain criteria, and the company uses this measure to evaluate its business performance, generate future operating plans, and assess its overall performance.
As a result of these announcements, the company's shares have moved -3.9% on the market, and are now trading at a price of $45.21. For more information, read the company's full 10-K submission here.
