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Author: CWTomlinson Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 211  
Subject: K&S 2nd QUARTER FY 2001 EARNINGS DATE Date: 4/20/2001 7:15 AM
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Kulicke & Soffa
2101 Blair Mill Road, Willow Grove, PA 19090
Phone (215) 784-6000 „h FAX (215) 784-6167
NEWS For Immediate Release


Kulicke & Soffa Reports
Second Quarter FY 2001 Results

A conference call to discuss second quarter results is scheduled for 9:00 AM EDT today. Interested participants may call 973-633-6740 or log on to www.kns.com/investors. A replay will be available following the call until 6:00 PM EDT on April 24, 2001 at the same web site address or by calling 402-220-1450 or 800-409-1551.

Pro forma net loss and loss per share as discussed in this release exclude acquisition-related costs and one time charges and benefits that are shown in more detail in the financial statements provided as part of the release. Pro forma net loss and loss per share presented in this fashion differ from those presented under generally accepted accounting principles because they exclude those items.

Willow Grove, PA, April 20, 2001¡XKulicke & Soffa Industries Inc. (NASDAQ: KLIC) today announced results for its second fiscal quarter of 2001 which ended March 31, 2001.

Sales for the quarter were $150.5 million, a decline of 32.2% compared to sales in the second fiscal quarter of 2000 of $222.2 million. Pro forma net loss for the quarter ended March 31, 2001, excluding acquisition-related expenses, amortization of goodwill and intangibles, and one-time charges for resizing and inventory write downs, partially offset by other income related to an insurance settlement, was $5.1 million or $0.10 per diluted share compared to reported net income of $22.0 million or $0.40 per diluted share in the quarter ended March 31, 2000. The net loss for the quarter ended March 31, 2001, including these items, was $11.0 million or $0.23 per diluted share.

For the six months ended March 31, 2001, sales were $305.9 million, a decline of 23.9% compared to sales of $402.0 million for the six months ended March 31, 2000. Pro forma net loss for the six months was $1.2 million or $0.03 per diluted share compared to reported net income of $34. 8 million or $0.67 per diluted share in the same period last year. The net loss for the six months including the acquisition-related costs, one-time charges and benefits was $22.7 million or $0.46 per diluted share.

During the quarter, the Company announced a workforce reduction of approximately 7% over the course of the fiscal year. Expenses associated with this reduction were taken in the March quarter with the actual cost reduction to start in the June quarter.

Also during the quarter, the Company purchased the 20% equity share of Flip Chip Technologies, LLC not previously owned.

Bookings for the quarter were $110.0 million, a decline of 4.3% from bookings of $115.0 million in the first fiscal quarter of 2001. During the second fiscal quarter of 2000, bookings were $242.0 million.
C. Scott Kulicke, chairman and chief executive officer of K&S, said, ¡§The electronics industry worldwide is in the middle of a dramatic slowdown caused in part by excess inventory and equipment overcapacity. K&S is taking the necessary steps to manage our operations in this environment, including reducing our expense base. While we are carefully monitoring business conditions, we see no near-term catalyst to reverse the downturn. We are continuing to invest in enabling technologies that will be critical to maintaining our market leadership position when business turns back up, but are also prepared to take further actions to protect the Company¡¦s financial well-being.

¡§We have very little visibility regarding projected revenue streams,¡¨ continued Kulicke. ¡§Our best estimate for third fiscal quarter revenue is a range of $115-130 million.¡¨

Kulicke & Soffa is the world¡¦s leading supplier of semiconductor assembly interconnect equipment, materials and technology. Chip and wire solutions combine wafer dicing, die bonding and wire bonding equipment with saw blades, die collets, wire and capillaries. Flip chip solutions include wafer bumping technology, die placement equipment and Ultravia„· high density substrates. Chip scale and wafer level packaging solutions include solder sphere attachment systems and Ultra CSP„· technology. Test interconnect solutions include standard and vertical probe cards, ATE interface assemblies and ATE boards for wafer testing, and test sockets and contactors for all types of packages. Kulicke & Soffa¡¦s web site address is www.kns.com.

Caution Concerning Forward Looking Statements
This press release contains forward-looking statements which are found in various places throughout the press release. While these forward-looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, those listed or discussed in Kulicke & Soffa Industries' 2000 Annual Report on Form 10-K; overall global economic conditions; the risk of order postponements or cancellations; the risks associated with a substantial foreign customer base; potential instability in foreign capital markets; foreign currency fluctuations; the volatility in the demand for semiconductors and the Company¡¦s products and services; the risk that the Company will not be successful in making technological advances and in not obtaining cost efficiencies associated with recent acquisitions; and other key factors that could adversely affect its businesses and financial performance contained in past and future filings and reports, including those with the SEC. Kulicke & Soffa Industries is under no obligation to (and expressly disclaims any such obligations to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Company Contact: Nancy R. Kyle, Phone: 215-784-6436, Fax: 215-784-6167, email: nkyle@kns.com

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