Kulicke & Soffa results top estimates; sees upbeat fourth-quarter
(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.
(Reporting by Supantha Mukherjee in Bangalore, Editing by Saumyadeb Chakrabarty)
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