$KLIC
Kulicke and Soffa Industries Inc

2014 Q1 Form 10-Q Financial Statement

#000005697814000086 Filed on April 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $114.2M $106.1M
YoY Change 7.63% -27.47%
Cost Of Revenue $56.53M $57.29M
YoY Change -1.32% -28.05%
Gross Profit $57.67M $48.82M
YoY Change 18.13% -26.79%
Gross Profit Margin 50.5% 46.01%
Selling, General & Admin $28.24M $28.42M
YoY Change -0.66% -6.91%
% of Gross Profit 48.96% 58.22%
Research & Development $19.33M $12.21M
YoY Change 58.32% -23.28%
% of Gross Profit 33.51% 25.0%
Depreciation & Amortization $2.164M $2.408M
YoY Change -10.13% 24.96%
% of Gross Profit 3.75% 4.93%
Operating Expenses $47.56M $40.63M
YoY Change 17.06% -12.52%
Operating Profit $10.11M $8.190M
YoY Change 23.46% -59.54%
Interest Expense $297.0K $1.000K
YoY Change 29600.0% -99.95%
% of Operating Profit 2.94% 0.01%
Other Income/Expense, Net
YoY Change
Pretax Income $10.16M $8.377M
YoY Change 21.25% -54.06%
Income Tax $1.087M $1.041M
% Of Pretax Income 10.7% 12.43%
Net Earnings $9.070M $7.336M
YoY Change 23.64% -55.85%
Net Earnings / Revenue 7.94% 6.91%
Basic Earnings Per Share $0.12 $0.10
Diluted Earnings Per Share $0.12 $0.10
COMMON SHARES
Basic Shares Outstanding 76.40M shares 75.17M shares
Diluted Shares Outstanding 77.02M shares 76.55M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $596.3M $498.6M
YoY Change 19.59% 17.01%
Cash & Equivalents $587.1M $498.6M
Short-Term Investments $9.200M
Other Short-Term Assets $23.00M $22.00M
YoY Change 4.55% -9.84%
Inventory $43.62M $45.60M
Prepaid Expenses
Receivables $97.30M $117.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $760.2M $683.4M
YoY Change 11.24% 5.43%
LONG-TERM ASSETS
Property, Plant & Equipment $53.43M $26.60M
YoY Change 100.87% 5.42%
Goodwill $41.55M
YoY Change
Intangibles $8.550M
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.321M $11.00M
YoY Change -24.35% 0.83%
Total Long-Term Assets $111.8M $95.00M
YoY Change 17.74% -7.47%
TOTAL ASSETS
Total Short-Term Assets $760.2M $683.4M
Total Long-Term Assets $111.8M $95.00M
Total Assets $872.0M $778.4M
YoY Change 12.03% 3.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.29M $26.40M
YoY Change 45.03% -43.73%
Accrued Expenses $16.50M $30.30M
YoY Change -45.54% 45.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.25M $70.10M
YoY Change 3.06% -66.0%
LONG-TERM LIABILITIES
Long-Term Debt $19.60M $0.00
YoY Change
Other Long-Term Liabilities $8.830M $9.000M
YoY Change -1.89% -11.3%
Total Long-Term Liabilities $8.830M $9.000M
YoY Change -1.89% -11.3%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.25M $70.10M
Total Long-Term Liabilities $8.830M $9.000M
Total Liabilities $141.9M $117.2M
YoY Change 21.08% -52.81%
SHAREHOLDERS EQUITY
Retained Earnings $299.0M
YoY Change
Common Stock $474.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $46.36M
YoY Change
Treasury Stock Shares 4.954M shares
Shareholders Equity $730.1M $661.2M
YoY Change
Total Liabilities & Shareholders Equity $872.0M $778.4M
YoY Change 12.03% 3.67%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $9.070M $7.336M
YoY Change 23.64% -55.85%
Depreciation, Depletion And Amortization $2.164M $2.408M
YoY Change -10.13% 24.96%
Cash From Operating Activities $41.10M -$1.700M
YoY Change -2517.65% -107.36%
INVESTING ACTIVITIES
Capital Expenditures -$2.000M -$1.800M
YoY Change 11.11% 28.57%
Acquisitions
YoY Change
Other Investing Activities -$2.600M $8.200M
YoY Change -131.71%
Cash From Investing Activities -$4.600M $6.400M
YoY Change -171.88% -557.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 200.0K 300.0K
YoY Change -33.33% -66.67%
NET CHANGE
Cash From Operating Activities 41.10M -1.700M
Cash From Investing Activities -4.600M 6.400M
Cash From Financing Activities 200.0K 300.0K
Net Change In Cash 36.70M 5.000M
YoY Change 634.0% -77.88%
FREE CASH FLOW
Cash From Operating Activities $41.10M -$1.700M
Capital Expenditures -$2.000M -$1.800M
Free Cash Flow $43.10M $100.0K
YoY Change 43000.0% -99.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q3 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
162714000 USD
CY2014Q1 us-gaap Accounts Notes And Loans Receivable Net Current
AccountsNotesAndLoansReceivableNetCurrent
97342000 USD
CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
37030000 USD
CY2014Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
38288000 USD
CY2013Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1504000 USD
CY2014Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1771000 USD
CY2013Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
64225000 USD
CY2014Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
63611000 USD
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
227000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
227000 USD
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
3868000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
4182000 USD
CY2013Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3618000 USD
CY2014Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3292000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5492000 USD
CY2013Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2291000 USD
CY2014Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2686000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6082000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
561000 USD
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2291000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2013Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
504000 USD
CY2014Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
318000 USD
CY2013Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
CY2012Q2 us-gaap Area Of Land
AreaOfLand
198000 sqft
CY2013Q3 us-gaap Assets
Assets
862994000 USD
CY2014Q1 us-gaap Assets
Assets
872033000 USD
CY2013Q3 us-gaap Assets Current
AssetsCurrent
754388000 USD
CY2014Q1 us-gaap Assets Current
AssetsCurrent
760184000 USD
CY2013Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
525040000 USD
CY2014Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
596262000 USD
CY2013Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
3252000 USD
CY2014Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
9152000 USD
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These consolidated financial statements include the accounts of Kulicke and Soffa Industries, Inc. and its subsidiaries (the &#8220;Company&#8221;), with appropriate elimination of intercompany balances and transactions. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interim consolidated financial statements are unaudited and, in management's opinion, include all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of results for these interim periods. The interim consolidated financial statements do not include all of the information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) and should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended September 28, 2013, filed with the Securities and Exchange Commission, which includes Consolidated Balance Sheets as of September 28, 2013 and September 29, 2012, and the related Consolidated Statements of Operations, Statements of Other Comprehensive Income, Changes in Shareholders' Equity and Cash Flows for each of the years in the three-year period ended September 28, 2013. The results of operations for any interim period are not necessarily indicative of the results of operations for any other interim period or for a full year.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each of the Company's first three fiscal quarters end on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;">. Fiscal 2014 quarters end on December 28, 2013, March 29, 2014, June 28, 2014 and September 27, 2014. Fiscal 2013 quarters ended on December 29, 2012, March 30, 2013, June 29, 2013 and September 28, 2013. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Nature of Business</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company designs, manufactures and sells capital equipment and expendable tools as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company's operating results depend upon the capital and operating expenditures of semiconductor manufacturers and outsourced semiconductor assembly and test providers (&#8220;OSATs&#8221;) worldwide which, in turn, depend on the current and anticipated market demand for semiconductors and products utilizing semiconductors. The semiconductor industry is highly volatile and experiences downturns and slowdowns which have a severe negative effect on the semiconductor industry's demand for semiconductor capital equipment, including assembly equipment manufactured and sold by the Company and, to a lesser extent, expendable tools, including those sold by the Company. These downturns and slowdowns have in the past adversely affected the Company's operating results. The Company believes such volatility will continue to characterize the industry and the Company's operations in the future.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, valuation allowances for deferred tax assets and deferred tax liabilities, repatriation of un-remitted foreign subsidiary earnings, equity-based compensation expense, restructuring, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of its assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates under different assumptions or conditions.</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Vulnerability to Certain Concentrations</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which may subject the Company to concentrations of credit risk as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;29, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">September&#160;28, 2013</font><font style="font-family:inherit;font-size:10pt;"> consisted primarily of short-term investments and trade receivables. The Company manages credit risk associated with investments by investing its excess cash in highly rated debt instruments of the U.S. Government and its agencies, financial institutions, and corporations. The Company has established investment guidelines relative to diversification and maturities designed to maintain safety and liquidity. These guidelines are periodically reviewed and modified as appropriate. The Company does not have any exposure to sub-prime financial instruments or auction rate securities. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's trade receivables result primarily from the sale of semiconductor equipment, related accessories and replacement parts, and expendable tools to a relatively small number of large manufacturers in a highly concentrated industry. Write-offs of uncollectible accounts have historically not been significant; however, the Company closely monitors its customers' financial strength to reduce the risk of loss. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's products are complex and require raw materials, components and subassemblies having a high degree of reliability, accuracy and performance. The Company relies on subcontractors to manufacture many of these components and subassemblies and it relies on sole source suppliers for some important components and raw material inventory.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's international operations are exposed to changes in foreign currency exchange rates due to transactions denominated in currencies other than the location's functional currency. The Company is also exposed to foreign currency fluctuations that impact the remeasurement of net monetary assets of those operations whose functional currency, the U.S. dollar, differs from their respective local currencies, most notably in Israel, Malaysia, Singapore and Switzerland. In addition to net monetary remeasurement, the Company has exposures related to the translation of subsidiary financial statements from their functional currency, the local currency, into its reporting currency, the U.S. dollar, most notably in China, Taiwan, Japan and Germany. The Company's U.S. operations also have foreign currency exposure due to net monetary assets denominated in currencies other than the U.S. dollar.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Foreign Currency Translation</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The majority of the Company's business is transacted in U.S. dollars; however, the functional currencies of some of the Company's subsidiaries are their local currencies. In accordance with ASC No. 830, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Matters</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 830&#8221;), for a subsidiary of the Company that has a functional currency other than the U.S. dollar, gains and losses resulting from the translation of the functional currency into U.S. dollars for financial statement presentation are not included in determining net income, but are accumulated in the cumulative translation adjustment account as a separate component of shareholders' equity (accumulated other comprehensive income (loss)). Under ASC 830, cumulative translation adjustments are not adjusted for income taxes as they relate to indefinite investments in non-U.S. subsidiaries. Gains and losses resulting from foreign currency transactions are included in the determination of net income.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Cash Equivalents </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Cash equivalents are measured at fair value based on level one measurement, or quoted market prices, as defined by ASC No. 820, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurements and Disclosures</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;29, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">September&#160;28, 2013</font><font style="font-family:inherit;font-size:10pt;">, fair value approximated the cost basis for cash equivalents. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Investments </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments, other than cash equivalents, are classified as &#8220;trading,&#8221; &#8220;available-for-sale&#8221; or &#8220;held-to-maturity,&#8221; in accordance with ASC No. 320, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Investments-Debt &amp; Equity Securities</font><font style="font-family:inherit;font-size:10pt;">, and depending upon the nature of the investment, its ultimate maturity date in the case of debt securities, and management's intentions with respect to holding the securities. Investments classified as &#8220;trading&#8221; are reported at fair market value, with unrealized gains or losses included in earnings. Investments classified as &#8220;available-for-sale&#8221; are reported at fair market value, with net unrealized gains or losses reflected as a separate component of shareholders' equity (accumulated other comprehensive income (loss)). The fair market value of trading and available-for-sale securities is determined using quoted market prices at the balance sheet date. Investments classified as held-to-maturity are reported at amortized cost. Realized gains and losses are determined on the basis of specific identification of the securities sold.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Allowance for Doubtful Accounts</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company maintains allowances for doubtful accounts for estimated losses resulting from its customers' failure to make required payments. If the financial condition of the Company's customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. The Company is also subject to concentrations of customers and sales to a few geographic locations, which could also impact the collectability of certain receivables. If global economic conditions deteriorate or political conditions were to change in some of the countries where the Company does business, it could have a significant impact on the results of operations and the Company's ability to realize the full value of its accounts receivable.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Inventories</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Inventories are stated at the lower of cost (on a first-in first-out basis) or market value. The Company generally provides reserves for obsolete inventory and for inventory considered to be in excess of demand. Demand is generally defined as </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">18 months</font><font style="font-family:inherit;font-size:10pt;"> forecasted future consumption for equipment, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">24 months</font><font style="font-family:inherit;font-size:10pt;"> consumption for all spare parts, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">12 months</font><font style="font-family:inherit;font-size:10pt;"> forecasted future consumption for expendable tools. Forecasted consumption is based upon internal projections, historical sales volumes, customer order activity and a review of consumable inventory levels at customers' facilities. The Company communicates forecasts of its future consumption to its suppliers and adjusts commitments to those suppliers accordingly. If required, the Company reserves the difference between the carrying value of its inventory and the lower of cost or market value, based upon assumptions about future consumption, and market conditions. If actual market conditions are less favorable than projections, additional inventory reserves may be required.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Property, Plant and Equipment </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, plant and equipment are carried at cost. The cost of additions and those improvements which increase the capacity or lengthen the useful lives of assets are capitalized, while repair and maintenance costs are expensed as incurred. Depreciation and amortization are provided on a straight-line basis over the estimated useful lives as follows: buildings </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">25 years</font><font style="font-family:inherit;font-size:10pt;">; machinery and equipment </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">3</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">10 years</font><font style="font-family:inherit;font-size:10pt;">; and leasehold improvements are </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">based on the shorter of the life of lease or life of asset</font><font style="font-family:inherit;font-size:10pt;">. </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Purchased computer software costs related to business and financial systems are amortized over a five-year period on a straight-line basis.</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Valuation of Long-Lived Assets </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 360, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property, Plant &amp; Equipment</font><font style="font-family:inherit;font-size:10pt;"> ("ASC 360"), the Company's property, plant and equipment is tested for impairment based on undiscounted cash flows when triggering events occur, and if impaired, written-down to fair value based on either discounted cash flows or appraised values. ASC 360 also provides a single accounting model for long-lived assets to be disposed of by sale and establishes additional criteria that would have to be met to classify an asset as held for sale. The carrying amount of an asset or asset group is not recoverable to the extent it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group. Estimates of future cash flows used to test the recoverability of a long-lived asset or asset group must incorporate the entity's own assumptions about its use of the asset or asset group and must factor in all available evidence.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASC 360 requires that long-lived assets be tested for recoverability whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Such events include significant under-performance relative to the expected historical or projected future operating results, significant changes in the manner of use of the assets, significant negative industry or economic trends and significant changes in market capitalization. During the three and six months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;29, 2014</font><font style="font-family:inherit;font-size:10pt;">, no triggering events occurred. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting for Impairment of Goodwill</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company operates two reportable segments: Equipment and Expendable Tools. Goodwill was recorded in 2009 for the acquisition of Orthodyne Electronics Corporation ("Orthodyne"), which added wedge bonder products (also known as "reporting unit") to the Equipment business. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounting Standard Update 2011-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Testing Goodwill for Impairment (&#8220;ASU 2011-08&#8221;),</font><font style="font-family:inherit;font-size:10pt;"> provides companies with the option to assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value.&#160;If, after assessing the qualitative factors, a company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying value, then performing the two-step impairment test is unnecessary.&#160;However, if a company concludes otherwise, then it is required to perform the first step of the two-step goodwill impairment test.&#160;If the carrying value of a reporting unit exceeds its fair value, then a company is required to perform the second step of the two-step goodwill impairment test.&#160; </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As part of the annual evaluation, the Company performs an impairment test of its goodwill in the fourth quarter of each fiscal year to coincide with the completion of its annual forecasting and refreshing of its business outlook process. On an ongoing basis, the Company monitors if a &#8220;triggering&#8221; event has occurred that may have the effect of reducing the fair value of a reporting unit below its respective carrying value. Adverse changes in expected operating results and/or unfavorable changes in other economic factors used to estimate fair values could result in a non-cash impairment charge in the future. During the three and six months ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;29, 2014</font><font style="font-family:inherit;font-size:10pt;">, no triggering events occurred.&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Impairment assessments inherently involve judgment as to assumptions about expected future cash flows and the impact of market conditions on those assumptions. Future events and changing market conditions may impact the assumptions as to prices, costs, growth rates or other factors that may result in changes in the estimates of future cash flows. Although the Company believes the assumptions that it has used in testing for impairment are reasonable, significant changes in any one of the assumptions could produce a significantly different result. Indicators of potential impairment may lead the Company to perform interim goodwill impairment assessments, including significant and unforeseen customer losses, a significant adverse change in legal factors or in the business climate, a significant adverse action or assessment by a regulator, a significant stock price decline or unanticipated competition. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For further information on goodwill and other intangible assets, see Note 3 below.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 605, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font><font style="font-family:inherit;font-size:10pt;">, the Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed or determinable, the collectability is reasonably assured, and equipment installation obligations have been completed and customer acceptance, when applicable, has been received or otherwise released from installation or customer acceptance obligations. If terms of the sale provide for a customer acceptance period, revenue is recognized upon the expiration of the acceptance period or customer acceptance, whichever occurs first. The Company&#8217;s standard terms are </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ex works</font><font style="font-family:inherit;font-size:10pt;"> (the Company&#8217;s factory), with title transferring to its customer at the Company&#8217;s loading dock or upon embarkation. The Company has a small percentage of sales with other terms, and revenue is recognized in accordance with the terms of the related customer purchase order. Revenue related to services is recognized upon performance of the services requested by a customer order. Revenue for extended maintenance service contracts with a term more than one month is recognized on a prorated straight-line basis over the term of the contract.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shipping and handling costs billed to customers are recognized in net revenue. Shipping and handling costs paid by the Company are included in cost of sales.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Research and Development </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company charges research and development costs associated with the development of new products to expense when incurred. In certain circumstances, pre-production machines which the Company intends to sell are carried as inventory until sold.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 740, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, deferred income taxes are determined using the liability method</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">. </font><font style="font-family:inherit;font-size:10pt;">The Company records a valuation allowance to reduce its deferred tax assets to the amount it expects is more likely than not to be realized. While the Company has considered future taxable income and its ongoing tax planning strategies in assessing the need for the valuation allowance, if it were to determine that it would be able to realize its deferred tax assets in the future in excess of its net recorded amount, an adjustment to the deferred tax asset would increase income in the period such determination was made. Likewise, should the Company determine it would not be able to realize all or part of its net deferred tax assets in the future, an adjustment to the deferred tax asset would decrease income in the period such determination was made. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 740 Topic 10, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes, General </font><font style="font-family:inherit;font-size:10pt;">(&#8220;ASC 740.10&#8221;), the Company accounts for uncertain tax positions taken or expected to be taken in its income tax return. Under ASC 740.10, the Company utilizes a two-step approach for evaluating uncertain tax positions. Step one, or recognition, requires a company to determine if the weight of available evidence indicates a tax position is more likely than not to be sustained upon audit, including resolution of related appeals or litigation processes, if any. Step two, or measurement, is based on the largest amount of benefit, which is more likely than not to be realized on settlement with the taxing authority.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity-Based Compensation </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for equity-based compensation under the provisions of ASC No. 718,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Compensation - Stock Compensation</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 718&#8221;). ASC 718 requires the recognition of the fair value of the equity-based compensation in net income. Compensation expense associated with market-based restricted stock is determined using a Monte-Carlo valuation model, and compensation expense associated with time-based and performance-based restricted stock is determined based on the number of shares granted and the fair value on the date of grant. The fair value of the Company's stock option awards are estimated using a Black-Scholes option valuation model. In addition, the calculation of equity-based compensation costs requires that the Company estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards is amortized over the vesting period of the award and the Company elected to use the straight-line method for awards granted after the adoption of ASC 718.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Earnings per Share </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Earnings per share (&#8220;EPS&#8221;) are calculated in accordance with ASC No. 260,</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Earnings per Share</font><font style="font-family:inherit;font-size:10pt;">. Basic EPS include only the weighted average number of common shares outstanding during the period. Diluted EPS include the weighted average number of common shares and the dilutive effect of stock options, restricted stock and share unit awards and convertible subordinated notes outstanding during the period, when such instruments are dilutive.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In accordance with ASC No. 260.10.55, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Earnings per Share - Implementation &amp; Guidance</font><font style="font-family:inherit;font-size:10pt;">, the Company treats all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends as participating in undistributed earnings with common shareholders. Awards of this nature are considered participating securities and the two-class method of computing basic and diluted EPS must be applied. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Prior Period Adjustment</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the three months ended December 28, 2013, the Company identified a prior period adjustment of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.8 million</font><font style="font-family:inherit;font-size:10pt;"> relating to the provision of input tax receivables that resulted in increased selling, general and administrative expense and a reduction of input tax receivable that should have been recorded during the three months ended September 28, 2013. This error was corrected during the quarter ended December 28, 2013 and management has deemed that the adjustment was not material to the previous quarter ended September 28, 2013, the fiscal year ended September 28, 2013, and the expected full year results of the current year ending September 27, 2014.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were no new accounting pronouncements during the six months ended </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;text-decoration:none;">March&#160;29, 2014</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
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3060000 USD
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31284000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
521788000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
587110000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
440244000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2013Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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521788000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
65322000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
58375000 USD
CY2013Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
525040000 USD
CY2014Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
596262000 USD
CY2014Q1 us-gaap Commitments And Contingencies
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CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2013Q3 us-gaap Common Stock No Par Value
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CY2014Q1 us-gaap Common Stock No Par Value
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CY2013Q3 us-gaap Common Stock Shares Authorized
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CY2014Q1 us-gaap Common Stock Shares Authorized
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CY2014Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2013Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
80237000 shares
CY2014Q1 us-gaap Common Stock Shares Outstanding
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CY2013Q3 us-gaap Common Stock Shares Outstanding
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CY2014Q1 us-gaap Common Stock Value
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CY2013Q3 us-gaap Common Stock Value
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467525000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7439000 USD
CY2013Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11501000 USD
CY2014Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
0 USD
CY2013Q3 us-gaap Construction In Progress Gross
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19396000 USD
CY2014Q1 us-gaap Cost Of Goods And Services Sold
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56534000 USD
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
97282000 USD
CY2013Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
57290000 USD
us-gaap Cost Of Goods And Services Sold
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
764000 USD
CY2013Q3 us-gaap Deferred Tax Assets Net Current
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4487000 USD
CY2014Q1 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
4475000 USD
CY2014Q1 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
41220000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
40709000 USD
CY2014Q1 us-gaap Depreciation
Depreciation
2164000 USD
CY2013Q1 us-gaap Depreciation
Depreciation
2408000 USD
us-gaap Depreciation
Depreciation
3827000 USD
us-gaap Depreciation
Depreciation
4915000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6486000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9504000 USD
CY2014Q1 us-gaap Earnings Per Share Basic
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0.12
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-904000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-98000 USD
us-gaap Effective Income Tax Rate Continuing Operations
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0.142
us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Employee Benefits And Share Based Compensation
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12606000 USD
CY2013Q3 us-gaap Employee Related Liabilities Current
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19779000 USD
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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5318000 USD
CY2014Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each of the Company's first three fiscal quarters end on the Saturday that is 13 weeks after the end of the immediately preceding fiscal quarter. The fourth quarter of each fiscal year ends on the Saturday closest to September 30</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">th</sup></font><font style="font-family:inherit;font-size:10pt;">. Fiscal 2014 quarters end on December 28, 2013, March 29, 2014, June 28, 2014 and September 27, 2014. Fiscal 2013 quarters ended on December 29, 2012, March 30, 2013, June 29, 2013 and September 28, 2013. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks.</font></div></div>
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
147000 USD
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
-30000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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314000 USD
CY2013Q3 us-gaap Goodwill
Goodwill
41546000 USD
CY2014Q1 us-gaap Goodwill
Goodwill
41546000 USD
us-gaap Gross Profit
GrossProfit
100345000 USD
CY2014Q1 us-gaap Gross Profit
GrossProfit
57672000 USD
CY2013Q1 us-gaap Gross Profit
GrossProfit
48820000 USD
us-gaap Gross Profit
GrossProfit
96037000 USD
CY2013Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
3400000 SGD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12756000 USD
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
10157000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8109000 USD
CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
8377000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1816000 USD
CY2013Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1041000 USD
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1087000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
996000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
4567000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
1710000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
-65502000 USD
us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
-70913000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
263000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-2610000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7374000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-12258000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-215000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1067000 USD
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1
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements requires management to make assumptions, estimates and judgments that affect the reported amounts of assets and liabilities, net revenue and expenses during the reporting periods, and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. On an ongoing basis, management evaluates estimates, including but not limited to, those related to accounts receivable, reserves for excess and obsolete inventory, carrying value and lives of fixed assets, goodwill and intangible assets, valuation allowances for deferred tax assets and deferred tax liabilities, repatriation of un-remitted foreign subsidiary earnings, equity-based compensation expense, restructuring, and warranties. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable. As a result, management makes judgments regarding the carrying values of its assets and liabilities that are not readily apparent from other sources. Authoritative pronouncements, historical experience and assumptions are used as the basis for making estimates, and on an ongoing basis, management evaluates these estimates. Actual results may differ from these estimates under different assumptions or conditions.</font></div></div>
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CY2014Q1 klic Accrued Expenses And Other Current Liabilities
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CY2013Q3 klic Accumulated Other Comprehensive Income Loss Curtailment Of Pension And Other Postretirement Benefit Plans Net Of Tax
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klic Defined Benefit Plan Employer Contribution Percentage Match Of Compensation
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employee contributions and matching Company contributions up to 4% or 6%
klic Earnings Per Share Diluted Adjustment
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0.00
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EarningsPerShareDilutedAdjustment
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CY2014Q1 klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
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CY2014Q1 klic Equipment And Software Gross
EquipmentAndSoftwareGross
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EquipmentAndSoftwareGross
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klic Increase Decrease In Accounts Payable Accrued Expenses And Other Liabilities
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klic Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Marketbased Restricted Stock
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klic Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Stock Options
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CY2014Q1 klic Incremental Common Shares Attributableto Dilutive Effectof Sharebased Payment Arrangements Timebased Restricted Stock
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CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due
InventoryPurchaseObligationFutureMinimumPaymentsDue
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CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due Current
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CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due In Four Years
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CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due In Three Years
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0 USD
CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due In Two Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInTwoYears
0 USD
CY2014Q1 klic Inventory Purchase Obligation Future Minimum Payments Due Thereafter
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0 USD
klic Lease Expiration Year
LeaseExpirationYear
2018
CY2012Q2 klic Percentage Of Building Area Agreed To Lease From Landlord
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0.70
klic Period Of Warranty For Manufacturing Defects
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P1Y
klic Relative Total Shareholder Return Average Stock Price Calculation Period
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P90D
klic Share Based Compensation Arrangement By Share Based Payment Award Options Vesting Period
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P3Y
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-03-29
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000056978
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
76584483 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
KULICKE & SOFFA INDUSTRIES INC
dei Trading Symbol
TradingSymbol
klic

Files In Submission

Name View Source Status
0000056978-14-000086-index-headers.html Edgar Link pending
0000056978-14-000086-index.html Edgar Link pending
0000056978-14-000086.txt Edgar Link pending
0000056978-14-000086-xbrl.zip Edgar Link pending
ex311.htm Edgar Link pending
ex312.htm Edgar Link pending
ex321.htm Edgar Link pending
ex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
klic-20140329.xml Edgar Link completed
klic-20140329.xsd Edgar Link pending
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