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 bottom line came in at $14.59 million, or $0.25 per share. This compares with $133.61 million, or $2.11 per share, in last year's first quarter.

Excluding items, Kulicke & Soffa Industries Inc. reported adjusted earnings of $21.77 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 60.9% to $176.23 million from $450.89 million last year.

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

-Earnings (Q1): $14.59 Mln. vs. $133.61 Mln. last year. -EPS (Q1): $0.25 vs. $2.11 last year. -Analyst Estimates: $0.24 -Revenue (Q1): $176.23 Mln vs. $450.89 Mln last year.