$900 Million
Cumulatively Deployed in Share Repurchase
Programs
Initiates New $300
Million Share Repurchase Program
SINGAPORE, Dec. 2, 2024
/PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ:
KLIC) ("Kulicke & Soffa," "K&S" or the "Company"),
announced today that it has completed its $800 million share repurchase program, originally
initiated during its fiscal fourth quarter of 2017. Under this
program, K&S repurchased approximately 22.7 million shares at
an average price of approximately $35.25 per share. The completion of the program
demonstrates the Company's commitment to its long-term growth
prospects and delivering value directly to shareholders.
As previously announced on November 13,
2024, K&S again expanded its shareholder return
activities with a new $300 million
share repurchase program, intended to initiate upon the prior
program's completion. Under this new program, Kulicke & Soffa
may repurchase 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, cash availability as
well as corporate and other considerations. As of the end of its
fiscal fourth quarter 2024, K&S had $577.1 million in cash, cash equivalents and
short-term investments and approximately 54.9 million weighted
average shares outstanding.
Cumulatively, since the announcement of the Company's initial
repurchase program on August 27,
2014, K&S has deployed $900
million to repurchase a total of 30.9 million shares, at an
average price of approximately $29.12
per share, in accelerated and open-market transactions.
About Kulicke & Soffa
Founded in 1951, Kulicke
& Soffa specializes in developing cutting-edge semiconductor
and electronics assembly solutions enabling a smart and more
sustainable future. Our ever-growing range of products and services
supports growth and facilitates technology transitions across
large-scale markets, such as advanced display, automotive,
communications, compute, consumer, data storage, energy storage and
industrial.
Caution Concerning Results,
Forward-Looking Statements and Certain Risks Related to our
Business
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. 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
persistent macroeconomic headwinds on our business, actual or
potential inflationary pressures, interest rate and risk premium
adjustments, falling customer sentiment, or economic recession
caused directly or indirectly by geopolitical tensions, our ability
to operate our business in accordance with our business plan and
the other factors listed or discussed in our Annual Report on Form
10-K for the fiscal year ended September 28,
2024, filed on November 14,
2024, 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.
Contacts:
Kulicke & Soffa
Marilyn Sim
Public Relations
P: +65-6880-9309
msim@kns.com
Kulicke & Soffa
Joseph Elgindy
Finance
P: +1-215-784-7500
investor@kns.com
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SOURCE Kulicke & Soffa Industries, Inc.
