Reuters: Global Markets: Kulicke & Soffa results top estimates; sees upbeat fourth-quarter

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Kulicke & Soffa results top estimates; sees upbeat fourth-quarter Jul 31st 2012, 12:01 Tue Jul 31, 2012 8:01am EDT (Reuters) - Semiconductor equipment maker Kulicke & Soffa Industries Inc (KLIC.O) reported strong third-quarter results and forecast fourth-quarter revenue above estimates, driven by higher demand from chip foundries. Shares of the company were up 12 percent at $11 in trading before the bell on Tuesday. The stock closed at $9.83 on the Nasdaq on Monday. The company, which makes semiconductor back-end equipment such as ball and wedge bonders used for assembling chips, expects fourth-quarter revenue to be between $250 million and $270 million. Analysts were expecting revenue of $190.4 million, according to Thomson Reuters I/B/E/S. Net income for the third-quarter fell to $68.2 million, or 90 cents per share, from $70.7 million, or 95 cents per share. The company, which counts world's biggest contract chip maker Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) (TSM.N) as its customer, said revenue fell 13 percent to $255.5 million. Analysts had expected earnings of 67 cents per share, excluding items, on revenue of $239.6 million.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions