SINGAPORE , Oct. 13, 2020 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) ("Kulicke & Soffa," "K&S" or the "Company"), today announced that it expects revenue in the fourth fiscal quarter, ended October 3, 2020, to be approximately $177 million.
K&S previously provided a revenue guidance midpoint of $165 million for its fourth fiscal quarter and reported revenue of $150.5 million during its third fiscal quarter, ended June 27, 2020. The estimated 18% sequential revenue growth is attributed to stronger demand from the general semiconductor and advanced LED end markets.
Fusen Chen, Kulicke & Soffa's President and Chief Executive Officer stated, "We are pleased with our fiscal fourth quarter performance and current demand stemming from 5G and advanced display, which benefits our core and our new growth businesses. Broad market conditions remain dynamic and we remain cautiously optimistic as we look ahead into fiscal year 2021."
K&S will provide additional commentary regarding performance of its most recent period during its fiscal fourth quarter earnings call which is scheduled for 8am EST on November 19, 2020.
The estimated revenue set forth above is unaudited and should be considered preliminary and subject to change. Accordingly, you should not place undue reliance on this preliminary data, which may differ materially from the Company's final results. This estimate has been prepared by and is the responsibility of management. Kulicke & Soffa's independent registered public accounting firm has not audited, compiled, performed any procedures on or reviewed the preliminary financial data, and accordingly does not express an opinion or any other form of assurance with respect to the preliminary financial data.