Shares of Kulicke & Soffa (KLIC) plunged 5.04% during Wednesday's trading session, as investors reacted to the company's underwhelming fiscal second-quarter results and weaker-than-expected third-quarter guidance released after Tuesday's market close.
The semiconductor equipment manufacturer reported a fiscal Q2 adjusted loss of $0.52 per diluted share, which, while narrower than the $0.95 loss reported a year ago, fell short of analysts' expectations of $0.19 profit. Revenue for the quarter ended March 29 came in at $162 million, down from $172.1 million in the same period last year and below the $165.9 million forecast by analysts.
Adding to the negative sentiment, Kulicke & Soffa's fiscal Q3 outlook disappointed investors. The company projects adjusted earnings per share of $0.05, plus or minus 10%, significantly below the $0.35 expected by analysts. Revenue for the upcoming quarter is anticipated to be around $145 million, plus or minus $10 million, far short of the $191.3 million analysts were predicting. This weak guidance suggests ongoing challenges in the semiconductor industry and raises concerns about the company's near-term growth prospects.
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