Kulicke & Safa Industries, Inc. (NASDAQ:KLIC) has released a correction on the November 19 release regarding the financial results for its fourth quarter and fiscal year 2009 earnings. The company identified a calculation error in its income tax expense after the original release of the results. The correction of the error decreased the tax expense by $750,000, resulting in an increase to net income after tax of $750,000.
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The corrected income from continuing operations for the 2009 fourth quarter is now $7.2 million, or $0.10 per diluted share, increased the per share amount by $0.01. The corrected loss from continuing operations is now $58.0 million, or $0.93 per diluted share, with an increase of $0.02 per share. The full corrected release may be accessible on the company’s website, www.kns.com.
Kulicke and Soffa Industries, Inc. (K&S) designs, manufactures and markets capital equipment and packaging materials, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company’s customers primarily consist of integrated device manufacturers (IDM) and subcontractor assembly facilities. Subsequent to the fiscal year ended September 27, 2008 (fiscal 2008), the Company completed the sale of its Wire business to W.C. Heraeus GmbH (Heraeus), a precious metals and technology company based in Hanau, Germany. On October 3, 2008, K&S completed the acquisition of substantially all of the assets of Orthodyne Electronics Corporation (Orthodyne), a privately held company based in Irvine, California. Orthodyne is a supplier of both wedge bonders and wedges (the consumable product used in wedge bonding) for the power management and hybrid module markets.
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