UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 27, 2002
KULICKE AND SOFFA INDUSTRIES, INC.
(Exact Name of Registrant as Specified in Charter)
PENNSYLVANIA 000-00121 23-1498399
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
2101 Blair Mill Road, Willow Grove, PA 19090
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (215) 784-6000
ITEM 5. OTHER EVENTS
On August 27, 2002, Kulicke and Soffa Industries, Inc. (the "Company")
announced that it will close its substrate operations in Milpitas, California
due to the extended downturn in the semiconductor industry. The pre-tax charge
for the closure is estimated at approximately $17.0 million and will be incurred
in the fourth fiscal quarter ending September 30, 2002.
The decision to close the operation is the most recent step in the
Company's actions to cut costs and reduce cash usage. It had previously
announced other measures aimed at returning the Company to profitability,
including a functional reorganization, reductions in force, and manufacturing
moves to Singapore and China.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit No. Description
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99.1 Press Release dated August 27, 2002
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
KULICKE AND SOFFA INDUSTRIES, INC.
Date: August 27, 2002 By: /s/ Clifford G. Sprague
--------------------------
Clifford G. Sprague
Senior Vice President and Chief
Financial Officer
EXHIBIT INDEX
Exhibit No. Description
----------- -----------
99.1 Press Release dated August 27, 2002