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Semiconductor equipment providers Veeco and K&S (Kulicke & Soffa) announced their financial results respectively. The two companies both reported business decline for the previous quarter.
K&S revealed its fourth fiscal quarter of 2019 which ended September 28, 2019. The Company reported fourth quarter net revenue of US$139.8 million, net income of $6.4 million and non-GAAP net income of $9.3 million. The revenue and gross profit of K&S in fiscal 4Q19 have dropped by 24.3% and 23.8% compared to previous year. However, compared to previous quarter, both numbers grew.
K&S noted that despite broader macro and industry headwinds through fiscal 2019, the company maintained an aggressive pace of R&D investment and made progress in market expansion with its Mini LED and micro LED solution. The company sees demand improvements with newly developed products and growing based of Advanced Packaging solutions, which are believed to lead to an optimistic fiscal 2020 for K&S.
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