Kulicke And Soffa Industries Anticipates That Cancellation Of Project W Will Reduce Its FY24 Revenue By ~$15M
Portfolio Pulse from Benzinga Newsdesk
Kulicke and Soffa Industries (KLIC) announced the cancellation of Project W, expecting a reduction in FY24 revenue by approximately $15M. The company plans to redirect its development resources to focus on growth opportunities in Thermo-compression, Vertical Fan-Out, Automotive, and Dispense markets.
March 11, 2024 | 9:57 pm
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Kulicke and Soffa Industries expects a $15M reduction in FY24 revenue due to the cancellation of Project W, with a strategic shift towards growth opportunities in key technology markets.
The cancellation of Project W directly impacts KLIC's financial forecast, indicating a significant revenue reduction. The strategic refocus suggests a long-term growth vision, but the immediate revenue loss is likely to negatively affect investor sentiment and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100