Kulicke and Soffa Industries Shares Fall 6.9% After Hours (KLIC)

Kulicke and Soffa Industries, Inc. KLIC released financial results after the market closed on Wednesday. Kulicke and Soffa Industries, Inc reported that its 4th quarter net income soared to $56 million, or 78 cents per share, up from $5 million, or 8 cents per share, a year earlier. Excluding special items, the company's earnings came in at 89 cents per share. The company's revenue jumped 134.6% to $259.28 million, up from $110.52 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 82 cents per share, on revenue of $260 million. President and chief executive officer Bruno Guilmart said, “In fiscal 2010 we saw significant increases in customer demand and revenue growth, driven by a general recovery of the semiconductor industry and compounded by increased business opportunities such as the transition from gold to copper wire, market share gains in LED bonders, increased wedge bonder demand for power management applications, and the launch of our new 'IStack' high performance die bonder." Kulicke and Soffa Industries, Inc. (KLIC) closed Wednesday trading at $6.37 per share, then fell 6.9% to $5.93 during after hours trading. Analysts covering the company's stock give it a consensus price target of $7.90 per share. Read more from Benzinga's Company news.