Why Kulicke & Soffa Stock Jumped Today

Shares of Kulicke & Soffa Industries (NASDAQ: KLIC) jumped today, up by 11% as of 3 p.m. EST, after the company reported fiscal first-quarter earnings. The company also said it has acquired Uniqarta.

Revenue in the fiscal first quarter was $267.9 million, ahead of the $264.9 million in sales that Wall Street analysts were modeling for. That resulted in adjusted net income of $53.7 million, or $0.86 per share. The consensus estimate had called for just $0.75 per share in adjusted profits. The company, which provides capital equipment to the semiconductor industry, has acquired Uniqarta for its patent portfolio and intellectual property rights after previously working with Uniqarta to commercialize its LED die transfer technology.

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Source Fool.com