Kulicke & Soffa Increases Repurchase Authorization by $100M

Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke & Soffa”,
“K&S” or the “Company”) today announced its Board of Directors has
increased its share repurchase authorization by an additional $100

The new authorization is effective immediately, may be suspended or
discontinued at any time and is expected to be funded using the
Company’s available cash, cash equivalents and short-term investments.
Under the program, Kulicke & Soffa may purchase shares of its common
stock through open market and privately negotiated transactions at
prices deemed appropriate by management. The timing and amount of
repurchase transactions under this program will depend on market
conditions, availability of US cash as well as other corporate and
regulatory considerations.

“In addition to the recently initiated dividend, the repurchase program
further supplements our ability to deliver value, while
opportunistically taking advantage of market discrepancies and reducing
outstanding share count,” stated Fusen Chen, Kulicke & Soffa’s President
and CEO. “We will continue to take a long-term approach and execute this
program with available resources when appropriate.”

From its initial repurchase program announcement on August 27, 2014,
through July 9, 2018, K&S has deployed $183.6 million and repurchased
11.8 million shares in open market transactions.

About Kulicke & Soffa

Kulicke & Soffa (NASDAQ: KLIC) is a leading provider of semiconductor
packaging and electronic assembly solutions supporting the global
automotive, consumer, communications, computing and industrial segments.
As a pioneer in the semiconductor space, K&S has provided customers with
market leading packaging solutions for decades. In recent years, K&S has
expanded its product offerings through strategic acquisitions and
organic development, adding advanced packaging, electronics assembly,
wedge bonding and a broader range of expendable tools to its core
offerings. Combined with its extensive expertise in process technology
and focus on development, K&S is well positioned to help customers meet
the challenges of packaging and assembling the next-generation of
electronic devices (www.kns.com).

Caution Concerning Results and Forward Looking Statements

In addition to historical statements, this press release contains
statements relating to future events and our future results. These
statements are “forward-looking” statements within the meaning of the
Private Securities Litigation Reform Act of 1995, and include, but are
not limited to, statements that relate to our future expected dividend
payouts and growth opportunities. While these forward-looking statements
represent our judgments and future expectations concerning our business,
a number of risks, uncertainties and other important factors could cause
actual developments and results to differ materially from our
expectations. These factors include, but are not limited to: the risk
that the Company fails to meet its operational and financial targets in
order to adhere to its dividend policy; the risk that customer orders
already received may be postponed or canceled, generally without
charges; the risk that anticipated customer orders may not materialize;
the risk that our suppliers may not be able to meet our demands on a
timely basis; the volatility in the demand for semiconductors and our
products and services; the risk that identified market opportunities may
not grow or developed as we anticipated; volatile global economic
conditions, which could result in, among other things, sharply lower
demand for products containing semiconductors and for the Company’s
products, and disruption of capital and credit markets; the risk of
failure to successfully manage our operations; the possibility that we
may need to impair the carrying value of goodwill and/or intangibles
established in connection with one or more of our prior acquisitions;
acts of terrorism and violence; risks, such as changes in trade
regulations, currency fluctuations, political instability and war, which
may be associated with a substantial non-U.S. customer and supplier base
and substantial non-U.S. manufacturing operations; the impact of changes
in tax law; the risk that the Company will not identify suitable
acquisition opportunities or that any acquisitions will not be
successful; the risk that the Company fails to timely remediate the
material weaknesses identified in the Company’s internal controls over
financial reporting or that new material weaknesses or significant
deficiencies emerge; and the factors listed or discussed in Kulicke and
Soffa Industries, Inc. 2017 Annual Report on Form 10-K and our other
filings with the Securities and Exchange Commission. Kulicke and Soffa
Industries, Inc. is under no obligation to (and expressly disclaims any
obligation to) update or alter its forward-looking statements whether as
a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180710005289/en/

Leave a Comment