2021 Q2 Form 10-Q Financial Statement

#000005697821000068 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1
Revenue $340.2M $150.7M
YoY Change 126.1% 30.05%
Cost Of Revenue $191.7M $81.44M
YoY Change 136.55% 34.98%
Gross Profit $148.5M $69.30M
YoY Change 113.89% 24.71%
Gross Profit Margin 43.65% 45.97%
Selling, General & Admin $30.51M $29.16M
YoY Change 9.33% 2.46%
% of Gross Profit 20.55% 42.08%
Research & Development $34.87M $29.07M
YoY Change 14.15% -1.72%
% of Gross Profit 23.48% 41.94%
Depreciation & Amortization $3.245M $2.949M
YoY Change -0.31% -12.44%
% of Gross Profit 2.19% 4.26%
Operating Expenses $65.38M $58.23M
YoY Change 11.85% 0.33%
Operating Profit $83.11M $11.08M
YoY Change 657.58% -549.33%
Interest Expense $74.00K $661.0K
YoY Change -83.41% 160.24%
% of Operating Profit 0.09% 5.97%
Other Income/Expense, Net
YoY Change
Pretax Income $83.63M $13.09M
YoY Change 602.8% 1042.23%
Income Tax $12.21M $1.162M
% Of Pretax Income 14.6% 8.88%
Net Earnings $71.32M $11.89M
YoY Change 539.58% -434.4%
Net Earnings / Revenue 20.97% 7.89%
Basic Earnings Per Share $1.15 $0.19
Diluted Earnings Per Share $1.13 $0.19
COMMON SHARES
Basic Shares Outstanding 62.07M shares 63.68M shares
Diluted Shares Outstanding 63.24M shares 64.22M shares

Balance Sheet

Concept 2021 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $564.3M $640.3M
YoY Change 9.4% 2.14%
Cash & Equivalents $257.3M $392.3M
Short-Term Investments $307.0M $248.0M
Other Short-Term Assets $23.50M $24.10M
YoY Change 71.53% 70.92%
Inventory $140.0M $106.2M
Prepaid Expenses
Receivables $307.9M $199.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.036B $970.4M
YoY Change 23.42% 9.98%
LONG-TERM ASSETS
Property, Plant & Equipment $61.97M $55.65M
YoY Change 11.0% -27.11%
Goodwill $73.55M $55.95M
YoY Change 31.21% -0.19%
Intangibles $46.05M $39.76M
YoY Change 20.52% -16.16%
Long-Term Investments $0.00 $1.149M
YoY Change -100.0% -11.68%
Other Assets $2.292M $2.027M
YoY Change 8.52% -16.58%
Total Long-Term Assets $221.2M $190.5M
YoY Change 16.27% -3.69%
TOTAL ASSETS
Total Short-Term Assets $1.036B $970.4M
Total Long-Term Assets $221.2M $190.5M
Total Assets $1.257B $1.161B
YoY Change 22.1% 7.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $123.8M $50.53M
YoY Change 149.36% 51.39%
Accrued Expenses $47.10M $39.70M
YoY Change 0.21% 62.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $115.6M
YoY Change 1056.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $259.6M $262.0M
YoY Change 81.77% 113.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $13.17M $9.754M
YoY Change 30.69% 3.77%
Total Long-Term Liabilities $13.17M $9.754M
YoY Change 30.69% 3.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.6M $262.0M
Total Long-Term Liabilities $13.17M $9.754M
Total Liabilities $390.1M $398.5M
YoY Change 39.42% 55.1%
SHAREHOLDERS EQUITY
Retained Earnings $718.4M $604.0M
YoY Change 18.21% 0.35%
Common Stock $542.1M $532.9M
YoY Change 1.05% 1.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $392.7M $365.1M
YoY Change 1.39% 21.27%
Treasury Stock Shares 23.30M shares 22.45M shares
Shareholders Equity $866.9M $762.4M
YoY Change
Total Liabilities & Shareholders Equity $1.257B $1.161B
YoY Change 22.1% 7.48%

Cashflow Statement

Concept 2021 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $71.32M $11.89M
YoY Change 539.58% -434.4%
Depreciation, Depletion And Amortization $3.245M $2.949M
YoY Change -0.31% -12.44%
Cash From Operating Activities $27.10M $14.10M
YoY Change 14.83% -48.35%
INVESTING ACTIVITIES
Capital Expenditures -$4.000M -$2.500M
YoY Change 29.03% -16.67%
Acquisitions
YoY Change
Other Investing Activities $5.800M -$129.0M
YoY Change -89.26% -190.85%
Cash From Investing Activities $1.800M -$131.5M
YoY Change -96.46% -194.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.900M 12.10M
YoY Change -93.17% -148.02%
NET CHANGE
Cash From Operating Activities 27.10M 14.10M
Cash From Investing Activities 1.800M -131.5M
Cash From Financing Activities -9.900M 12.10M
Net Change In Cash 19.00M -105.3M
YoY Change -126.99% -174.63%
FREE CASH FLOW
Cash From Operating Activities $27.10M $14.10M
Capital Expenditures -$4.000M -$2.500M
Free Cash Flow $31.10M $16.60M
YoY Change 16.48% -45.21%

Facts In Submission

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BASIS OF PRESENTATION<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These consolidated condensed financial statements include the accounts of Kulicke and Soffa Industries, Inc. and its subsidiaries (“we,” “us,” “our,” or the “Company”) with appropriate elimination of intercompany balances and transactions. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The interim consolidated condensed financial statements are unaudited and, in management's opinion, include all adjustments (consisting only of normal and recurring adjustments) necessary for a fair statement of results for these interim periods. The interim consolidated condensed 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 (“GAAP”) and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended October 3, 2020, filed with the Securities and Exchange Commission, which includes Consolidated Balance Sheets as of October 3, 2020 and September 28, 2019, and the related Consolidated Statements of Operations, Statements of Comprehensive Income, Changes in Shareholders' Equity and Cash Flows for each of the years in the three-year period ended October 3, 2020. 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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Fiscal 2021 quarters end on January 2, 2021, April 3, 2021, July 3, 2021 and October 2, 2021. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. Fiscal 2020 quarters ended on December 28, 2019, March 28, 2020, June 27, 2020 and October 3, 2020. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Nature of Business</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company designs, manufactures and sells capital equipment and 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 device manufacturers, integrated device manufacturers, outsourced semiconductor assembly and test providers (“OSATs”), and other electronics manufacturers including automotive electronics suppliers, 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 can 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, 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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated condensed 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 condensed 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,</span><span style="color:#ee2724;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the valuation estimates and assessment of impairment and observable price adjustments, income taxes, equity-based compensation expense, 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 the Company's 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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Due to the coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of April 3, 2021. While there was no material impact to our consolidated condensed financial statements as of and for the quarter ended April 3, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to our consolidated condensed financial statements in future reporting periods. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Vulnerability to Certain Concentrations</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments which may subject the Company to concentrations of credit risk as of April 3, 2021 and October 3, 2020 consisted primarily of 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. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's trade receivables result primarily from the sale of semiconductor equipment, related accessories and replacement parts, and tools to a relatively small number of large manufacturers in a highly concentrated industry. Write-offs of uncollectible accounts have historically not been material. The Company actively monitors its customers' financial strength to reduce the risk of loss, including as a result of COVID-19. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Foreign Currency Translation and Remeasurement</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Foreign Currency Matters</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 830”), 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). The tax effect of currency translation adjustments related to unremitted foreign earnings no longer deemed to be indefinitely reinvested outside the U.S. is reflected in the determination of the Company’s net income or other comprehensive income (“OCI”). Gains and losses resulting from foreign currency transactions are included in the determination of net income. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's 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, 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 the Netherlands, 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.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Derivative Financial Instruments </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s primary objective for holding derivative financial instruments is to manage the fluctuation in foreign exchange rates and accordingly is not speculative in nature. The Company’s international operations are exposed to changes in foreign exchange rates as described above. The Company has established a program to monitor the forecasted transaction currency risk to protect against foreign exchange rate volatility. Generally, the Company uses foreign exchange forward contracts in these hedging programs. These instruments, which have maturities of up to twelve months, are recorded at fair value and are included in prepaid expenses and other current assets, or accrued expenses and other current liabilities. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our accounting policy for derivative financial instruments is based on whether they meet the criteria for designation as a cash flow hedge. A designated hedge with exposure to variability in the functional currency equivalent of the future foreign currency cash flows of a forecasted transaction is referred to as a cash flow hedge. The criteria for designating a derivative as a cash flow hedge include the assessment of the instrument’s effectiveness in risk reduction, matching of the derivative instrument to its underlying transaction, and the assessment of the probability that the underlying transaction will occur. For derivatives with cash flow hedge accounting designation, we report the after-tax gain / (loss) from the effective portion of the hedge as a component of accumulated other comprehensive income / (loss) and reclassify it into earnings in the same period in which the hedged transaction affects earnings and in the same line item on the Consolidated Condensed Statement of Operations as the impact of the hedged transaction. Derivatives that we designate as cash flow hedges are classified in the Consolidated Condensed Statement of Cash Flows in the same section as the underlying item, primarily within cash flows from operating activities. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The hedge effectiveness of these derivative instruments is evaluated by comparing the cumulative change in the fair value of the hedge contract with the cumulative change in the fair value of the forecasted cash flows of the hedged item.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If a cash flow hedge is discontinued because it is no longer probable that the original hedged transaction will occur as previously anticipated, the cumulative unrealized gain or loss on the related derivative is reclassified from accumulated other comprehensive income / (loss) into earnings. Subsequent gain / (loss) on the related derivative instrument is recognized into earnings in each period until the instrument matures, is terminated, is re-designated as a qualified cash flow hedge, or is sold. Ineffective portions of cash flow hedges, as well as amounts excluded from the assessment of effectiveness, are recognized in earnings. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Cash Equivalents </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 1 measurement, or quoted market prices, as defined by ASC No. 820, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurements and Disclosures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity Investments </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company invests in equity securities in companies to promote business and strategic objectives. Equity investments are measured and recorded as follows:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Equity method investments are equity securities in investees that provide the Company with the ability to exercise significant influence in which it lacks a controlling financial interest. Our proportionate share of the income or loss is recognized on a one-quarter lag and is recorded as share of results of equity-method investee, net of tax.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Non-marketable equity securities are equity securities without readily determinable fair value that are measured and recorded using a measurement alternative that measures the securities at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Allowance for Doubtful Accounts</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, including as a result of COVID-19, additional allowances may be required. If global or regional economic conditions deteriorate or political conditions were to change in some of the countries where the Company does business, including as a result of COVID-19, 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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Inventories</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories are stated at the lower of cost (on a first-in first-out basis) or net realizable value. The Company generally provides reserves for obsolete inventory and for inventory considered to be in excess of demand. Demand is generally defined as 18 months forecasted future consumption for equipment, 24 months forecasted future consumption for spare parts, and 12 months forecasted future consumption for 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 net realizable value, based upon projections about future consumption, and market conditions. If actual market conditions are less favorable than projections, additional inventory reserves may be required.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventory reserve provision for certain subsidiaries is determined based on management's estimate of future consumption for equipment and spare parts. This estimate is based on historical sales volumes, internal projections and market developments and trends. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Property, Plant and Equipment </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 25 years; machinery, equipment, furniture and fittings 3 to 10 years; toolings 1 year; and leasehold improvements are based on the shorter of the life of lease or life of asset. Purchased computer software costs related to business and financial systems are amortized over a five-year period on a straight-line basis. Land is not depreciated.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Valuation of Long-Lived Assets </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 360, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Property, Plant &amp; Equipment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> ("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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 historical internal forecasts or projected future operating results; significant changes in the manner of use of the assets; significant negative industry or economic trends; or significant changes in market capitalization. During the three and six months ended April 3, 2021, no "triggering" events occurred. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting for Impairment of Goodwill</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASC No. 350, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles-Goodwill and Other</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> requires goodwill and other intangible assets with indefinite lives to be reviewed for impairment annually, or more frequently if circumstances indicate a possible impairment. We 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. 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 impairment test is unnecessary. However, if a company concludes otherwise, then it is required to perform the goodwill impairment test. The Company's impairment test is performed by comparing the fair value of a reporting unit with its carrying value, and determining if the carrying amount exceeds its fair value.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 processes. On an ongoing basis, the Company monitors if a “triggering” 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. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Impairment assessments inherently involve judgment as to the assumptions made about the 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, 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 may lead the Company to perform interim goodwill impairment assessments. </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For further information on goodwill and other intangible assets, please refer to Note 4 below.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 606, Revenue from Contracts with Customers, the Company recognizes revenue when we satisfy performance obligations as evidenced by the transfer of control of our products or services to customers. In general, the Company generates revenue from product sales, either directly to customers or to distributors. In determining whether a contract exists, we evaluate the terms of the agreement, the relationship with the customer or distributor and their ability to pay. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recognizes revenue from sales of our products, including sales to our distributors, at a point in time, generally upon shipment or delivery to the customer or distributor, depending upon the terms of the sales order. Control is considered transferred when title and risk of loss pass, when the customer becomes obligated to pay and, where applicable, when the customer has accepted the products or upon expiration of the acceptance period. For sales to distributors, payment is due on our standard commercial terms and is not contingent upon resale of the products. </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Our business is subject to contingencies related to customer orders, including:</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Right of Return: A large portion of our revenue comes from the sale of equipment used in the semiconductor assembly process. Other product sales relate to consumable products, which are sold in high-volume quantities, and are generally </span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">maintained at low stock levels at the customer's facility. Customer returns have historically represented a very small percentage of customer sales on an annual basis.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Warranties: Our equipment is generally shipped with a one-year warranty against manufacturing defects. We establish reserves for estimated warranty expense when revenue for the related equipment is recognized. The reserve for estimated warranty expense is based upon historical experience and management's estimate of future expenses, including product parts replacement, freight charges and labor costs expected to be incurred to correct product failures during the warranty period.</span></div><div style="margin-top:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Conditions of Acceptance: Sales of our consumable products generally do not have customer acceptance terms. In certain cases, sales of our equipment have customer acceptance clauses which may require the equipment to perform in accordance with customer specifications or when installed at the customer's facility. In such cases, if the terms of acceptance are satisfied at our facility prior to shipment, the revenue for the equipment will be recognized upon shipment. If the terms of acceptance are satisfied at our customers' facilities, the revenue for the equipment will not be recognized until acceptance, which is typically obtained after installation and testing, is received from the customer.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Service revenue is generally recognized over time as the services are performed. For the three and six months ended April 3, 2021, and March 28, 2020, the service revenue is not material. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company measures revenue based on the amount of consideration we expect to be entitled to in exchange for products or services. Any variable consideration such as sales incentives are recognized as a reduction of net revenue at the time of revenue recognition. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The length of time between invoicing and payment is not significant under our payment terms. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Research and Development </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company charges research and development costs associated with the development of new products to expense when incurred. In certain circumstances, pre-production machines that the Company intends to sell are carried as inventory until sold.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Income Taxes</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with ASC No. 740, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, deferred income taxes are determined using the balance sheet method. The Company records a valuation allowance to reduce its deferred tax assets to the amount expected, on a more likely than not basis, to be realized. While the Company has considered future taxable income and 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 deferred tax assets would increase income in the period when such determination is made. Likewise, should the Company determine it would not be able to realize all or part of its deferred tax assets in the future, an adjustment to deferred tax assets would decrease income in the period when such determination is made.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determines the amount of unrecognized tax benefit with respect to uncertain tax positions taken or expected to be taken on its income tax returns in accordance with ASC No. 740 Topic 10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes, General</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 740.10”). 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 examination solely based on its technical merit. 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, including resolution of related appeals or litigation processes, if any.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Equity-Based Compensation </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for equity-based compensation under the provisions of ASC No. 718,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Compensation - Stock Compensation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (“ASC 718”). ASC 718 requires the recognition of the fair value of the equity-based compensation in net income. Compensation expense associated with Relative TSR Performance Share Units is determined using a Monte-Carlo valuation model, and compensation expense associated with time-based and Growth Performance Share Units is determined based on the number of shares granted and the fair value on the date of grant. Please refer to Note 11 for a summary of the </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">terms of these performance-based awards. The fair value of the Company's stock option awards is estimated using a Black-Scholes option valuation model. 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. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Earnings per Share </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Earnings per share (“EPS”) are calculated in accordance with ASC No. 260,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Earnings per Share</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. 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 awards, performance share units and restricted share units outstanding during the period, when such instruments are dilutive. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting for Business Acquisitions</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company accounts for business acquisitions in accordance with ASC No. 805,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The fair value of the net assets acquired and the results of operations of the acquired businesses are included in the Unaudited Consolidated Condensed Financial Statements from the acquisition date forward. The Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and results of operations during the reporting period. Estimates are used in accounting for, among other things, the fair value of acquired net operating assets, property, plant and equipment, deferred revenue, intangible assets and related deferred income taxes, useful lives of property, plant and equipment, and amortizable lives of acquired intangible assets. Any excess of the purchase consideration over the identified fair value of the assets and liabilities acquired is recognized as goodwill. The valuation of these tangible and identifiable intangible assets and liabilities is subject to further management review and may change materially between the preliminary allocation and end of the purchase price allocation period. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Restructuring Charges</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Restructuring charges may consist of voluntary or involuntary severance-related charges, asset-related charges and other costs due to exit activities. We recognize voluntary termination benefits when an employee accepts the offered benefit arrangement. We recognize involuntary severance-related charges depending on whether the termination benefits are provided under an ongoing benefit arrangement or under a one-time benefit arrangement. If the former, we recognize the charges once they are probable and the amounts are estimable. If the latter, we recognize the charges once the benefits have been communicated to employees.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recent Accounting Pronouncements</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016, the FASB issued ASU 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">(Topic 326): Measurement of Credit Losses on Financial Instruments</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This ASU replaces the impairment methodology in current GAAP, which delays recognition of credit losses until it is probable a loss has been incurred, with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. We adopted this ASU in the first quarter of fiscal 2021. The adoption of this ASU did not have a material impact on our consolidated condensed financial statements. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collaborative Arrangements</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2018, the FASB issued ASU 2018-18, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collaborative Arrangements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Topic 808). This ASU clarifies that certain transactions between collaborative arrangement participants should be accounted for as revenue when the collaborative arrangement participant is a customer in the context of a unit of account and precludes recognizing as revenue consideration received from a collaborative arrangement participant if the participant is not a customer. This ASU requires retrospective adoption to the date we adopted ASC 606 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings of the earliest annual period presented. We adopted this ASU in the first quarter of fiscal 2021. The adoption of this ASU did not have a material impact on our consolidated condensed financial statements. </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, the FASB issued ASU 2019-12, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Income Taxes </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Topic 740). The amendments in this ASU simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and clarify and amend existing guidance. This ASU will be effective for us in the first quarter of 2022 with early adoption permitted. We are currently evaluating the timing and the effects of the adoption of this ASU on our consolidated condensed financial statements.</span></div>
us-gaap Fiscal Period
FiscalPeriod
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    </span>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. Fiscal 2021 quarters end on January 2, 2021, April 3, 2021, July 3, 2021 and October 2, 2021. In fiscal years consisting of 53 weeks, the fourth quarter will consist of 14 weeks. Fiscal 2020 quarters ended on December 28, 2019, March 28, 2020, June 27, 2020 and October 3, 2020.
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated condensed 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 condensed 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,</span><span style="color:#ee2724;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the valuation estimates and assessment of impairment and observable price adjustments, income taxes, equity-based compensation expense, 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 the Company's 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.</span></div>Due to the coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or a revision of the carrying value of its assets or liabilities as of April 3, 2021. While there was no material impact to our consolidated condensed financial statements as of and for the quarter ended April 3, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to our consolidated condensed financial statements in future reporting periods.
CY2021Q2 us-gaap Short Term Investments
ShortTermInvestments
307000000 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
342000000 USD
CY2021Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
67746000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
60205000 USD
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
57176000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
39753000 USD
CY2021Q2 us-gaap Inventory Finished Goods
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44689000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
43015000 USD
CY2021Q2 us-gaap Inventory Gross
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169611000 USD
CY2020Q4 us-gaap Inventory Gross
InventoryGross
142973000 USD
CY2021Q2 us-gaap Inventory Valuation Reserves
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29612000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
31164000 USD
CY2021Q2 us-gaap Inventory Net
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139999000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
111809000 USD
CY2021Q2 us-gaap Land
Land
2182000 USD
CY2020Q4 us-gaap Land
Land
2182000 USD
CY2021Q2 us-gaap Buildings And Improvements Gross
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23171000 USD
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
22830000 USD
CY2021Q2 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
23678000 USD
CY2020Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
23111000 USD
CY2021Q2 klic Equipment And Software Gross
EquipmentAndSoftwareGross
39434000 USD
CY2020Q4 klic Equipment And Software Gross
EquipmentAndSoftwareGross
38524000 USD
CY2021Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
85948000 USD
CY2020Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
80953000 USD
CY2021Q2 us-gaap Construction In Progress Gross
ConstructionInProgressGross
8559000 USD
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
7111000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
182972000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
174711000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
121007000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
115564000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
61965000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
59147000 USD
CY2021Q2 srt Payables To Customers
PayablesToCustomers
47265000 USD
CY2020Q4 srt Payables To Customers
PayablesToCustomers
22759000 USD
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36879000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37237000 USD
CY2021Q2 klic Accrued Liabilities For Commission And Professional Fees Current
AccruedLiabilitiesForCommissionAndProfessionalFeesCurrent
8688000 USD
CY2020Q4 klic Accrued Liabilities For Commission And Professional Fees Current
AccruedLiabilitiesForCommissionAndProfessionalFeesCurrent
7397000 USD
CY2021Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
4075000 USD
CY2020Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
2716000 USD
CY2021Q2 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
3000 USD
CY2020Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
449000 USD
CY2021Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7476000 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
6204000 USD
CY2021Q2 klic Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
104386000 USD
CY2020Q4 klic Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
76762000 USD
CY2020Q4 us-gaap Goodwill
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56695000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
16799000 USD
us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
54000 USD
CY2021Q2 us-gaap Goodwill
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73548000 USD
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
46046000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
37972000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2629000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6457000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6356000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6356000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6356000 USD
CY2021Q2 klic Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
17892000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46046000 USD
CY2021Q2 us-gaap Cash
Cash
148778000 USD
CY2021Q2 klic Cash Estimated Fair Value
CashEstimatedFairValue
148778000 USD
CY2021Q2 klic Cashand Cash Equivalents Amortized Cost
CashandCashEquivalentsAmortizedCost
257351000 USD
CY2021Q2 klic Cashand Cash Equivalents Gross Unrealized Gain
CashandCashEquivalentsGrossUnrealizedGain
0 USD
CY2021Q2 klic Cashand Cash Equivalents Gross Unrealized Loss
CashandCashEquivalentsGrossUnrealizedLoss
18000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
257333000 USD
CY2021Q2 us-gaap Short Term Investments
ShortTermInvestments
307000000 USD
CY2021Q2 klic Availableforsale Securities Shortterm Investments Gross Unrealized Gain
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedGain
0 USD
CY2021Q2 klic Availableforsale Securities Shortterm Investments Gross Unrealized Loss
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedLoss
0 USD
CY2021Q2 klic Availableforsale Securities Shortterm Investments Fair Value Disclosure
AvailableforsaleSecuritiesShorttermInvestmentsFairValueDisclosure
307000000 USD
CY2021Q2 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestments
564351000 USD
CY2021Q2 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Gain
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedGain
0 USD
CY2021Q2 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Loss
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedLoss
18000 USD
CY2021Q2 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Fair Value Disclosure
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsFairValueDisclosure
564333000 USD
CY2020Q4 us-gaap Cash
Cash
42997000 USD
CY2020Q4 klic Cash Unrealized Gains
CashUnrealizedGains
0 USD
CY2020Q4 klic Cash Unrealized Losses
CashUnrealizedLosses
0 USD
CY2020Q4 klic Cash Estimated Fair Value
CashEstimatedFairValue
42997000 USD
CY2020Q4 klic Cashand Cash Equivalents Amortized Cost
CashandCashEquivalentsAmortizedCost
188137000 USD
CY2020Q4 klic Cashand Cash Equivalents Gross Unrealized Gain
CashandCashEquivalentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Cashand Cash Equivalents Gross Unrealized Loss
CashandCashEquivalentsGrossUnrealizedLoss
10000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
188127000 USD
CY2020Q4 us-gaap Short Term Investments
ShortTermInvestments
342000000 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Gain
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Gross Unrealized Loss
AvailableforsaleSecuritiesShorttermInvestmentsGrossUnrealizedLoss
0 USD
CY2020Q4 klic Availableforsale Securities Shortterm Investments Fair Value Disclosure
AvailableforsaleSecuritiesShorttermInvestmentsFairValueDisclosure
342000000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestments
530137000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Gain
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedGain
0 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Gross Unrealized Loss
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsGrossUnrealizedLoss
10000 USD
CY2020Q4 klic Cash Cash Equivalents Restricted Cash Restricted Cash Equivalentsand Short Term Investments Fair Value Disclosure
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsandShortTermInvestmentsFairValueDisclosure
530127000 USD
CY2021Q2 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
6371000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
6321000 USD
CY2021Q2 us-gaap Equity Method Investments
EquityMethodInvestments
0 USD
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1214000 USD
CY2021Q2 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
6371000 USD
CY2020Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
7535000 USD
us-gaap Equity Method Investment Realized Gain Loss On Disposal
EquityMethodInvestmentRealizedGainLossOnDisposal
1000000.0 USD
CY2021Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
49388000 USD
CY2020Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
37264000 USD
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimate Of Time To Transfer1
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimateOfTimeToTransfer1
P12M
klic Leases Numberof Options To Extend
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0 extend_options
CY2021Q2 us-gaap Lease Cost
LeaseCost
1932000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
1668000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3459000 USD
us-gaap Lease Cost
LeaseCost
3799000 USD
us-gaap Lease Cost
LeaseCost
3384000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
3558000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
3131000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M6D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.048
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4706000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6581000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6408000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2332000 USD
CY2021Q2 klic Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1832000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
25318000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2406000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
22912000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6171000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16741000 USD
klic Defined Benefit Plan Employer Contribution Percentage Match Of Compensation
DefinedBenefitPlanEmployerContributionPercentageMatchOfCompensation
employee contributions and matching Company contributions from 4% to 6%
CY2021Q2 us-gaap Pension Contributions
PensionContributions
447000 USD
CY2020Q1 us-gaap Pension Contributions
PensionContributions
352000 USD
us-gaap Pension Contributions
PensionContributions
866000 USD
us-gaap Pension Contributions
PensionContributions
709000 USD
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
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100000000 USD
CY2018Q3 us-gaap Stock Repurchase Program Authorized Amount1
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200000000 USD
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 USD
CY2020Q3 klic Stock Repurchase Program Authorized Amount Additional Amount
StockRepurchaseProgramAuthorizedAmountAdditionalAmount
100000000 USD
CY2020Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000 USD
CY2021Q2 us-gaap Treasury Stock Shares Acquired
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23000.0 shares
us-gaap Treasury Stock Shares Acquired
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71000.0 shares
CY2021Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1100000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2300000 USD
CY2021Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
139800000 USD
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2021Q2 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
8700000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
16100000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
1996000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
10000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
3008000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
3088000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
13000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
557000 USD
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-999000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-2521000 USD
klic Relative Total Shareholder Return Average Stock Price Calculation Period
RelativeTotalShareholderReturnAverageStockPriceCalculationPeriod
P90D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
15000 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
11000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
704000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
725000 shares
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3963000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3722000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7364000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7331000 USD
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3963000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3722000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7364000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7331000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4212000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2588000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2958000 USD
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1896000 USD
CY2021Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-10418000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-2459000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-20268000 USD
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-5817000 USD
CY2021Q2 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
11994000 USD
CY2020Q1 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
10229000 USD
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
23098000 USD
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
14279000 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5788000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10358000 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5788000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10358000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
71320000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
71320000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
11888000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
11888000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62068000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62068000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63679000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63679000 shares
CY2021Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
1169000 USD
CY2020Q1 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
540000 USD
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63237000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64219000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
CY2021Q2 klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.02
CY2020Q1 klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
0
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Net Income Loss
NetIncomeLoss
119683000 USD
us-gaap Net Income Loss
NetIncomeLoss
119683000 USD
us-gaap Net Income Loss
NetIncomeLoss
25365000 USD
us-gaap Net Income Loss
NetIncomeLoss
25365000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62023000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62023000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63675000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63675000 shares
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
1095000 USD
us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
AmountOfDilutiveSecuritiesStockOptionsAndRestrictiveStockUnits
591000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63118000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64266000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.40
klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.03
klic Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.90
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12212000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1162000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18510000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3295000 USD
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.146
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.089
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.134
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.115
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2021Q2 us-gaap Revenues
Revenues
340163000 USD
CY2020Q1 us-gaap Revenues
Revenues
150741000 USD
us-gaap Revenues
Revenues
608020000 USD
us-gaap Revenues
Revenues
295038000 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
83114000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11076000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
137156000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
24490000 USD
CY2021Q2 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
5121000 USD
CY2020Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
2775000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
8808000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
5099000 USD
CY2021Q2 us-gaap Depreciation
Depreciation
3245000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
2949000 USD
us-gaap Depreciation
Depreciation
6434000 USD
us-gaap Depreciation
Depreciation
5891000 USD
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1355000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1820000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3313000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3637000 USD
CY2021Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
12136000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14714000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9576000 USD
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14185000 USD
CY2021Q2 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6029000 USD
CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2923000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11329000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
6418000 USD
CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2591000 USD
CY2020Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3269000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5331000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6235000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
15574000 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14368000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
15574000 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
14368000 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due
InventoryPurchaseObligationFutureMinimumPaymentsDue
549024000 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due Current
InventoryPurchaseObligationFutureMinimumPaymentsDueCurrent
239818000 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due In Two Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInTwoYears
309206000 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due In Three Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInThreeYears
0 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due In Four Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInFourYears
0 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due In Five Years
InventoryPurchaseObligationFutureMinimumPaymentsDueInFiveYears
0 USD
CY2021Q2 klic Inventory Purchase Obligation Future Minimum Payments Due Thereafter
InventoryPurchaseObligationFutureMinimumPaymentsDueThereafter
0 USD

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