Kulicke & Soffa Industries Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Kulicke & Soffa Industries Inc. (KLIC) revealed earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $9.29 million, or $0.16 per share. This compares with $14.59 million, or $0.25 per share, in last year's first quarter.

Excluding items, Kulicke & Soffa Industries Inc. reported adjusted earnings of $16.98 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $171.19 million from $176.23 million last year.

Kulicke & Soffa Industries Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $9.29 Mln. vs. $14.59 Mln. last year. -EPS (Q1): $0.16 vs. $0.25 last year. -Analyst Estimates: $0.26 -Revenue (Q1): $171.19 Mln vs. $176.23 Mln last year.

-Guidance: Next quarter revenue guidance: $160 - $180 Mln