SINGAPORE -- Kulicke and Soffa reported first fiscal quarter net revenue was up 38% to $149.6 million.

During the quarter, which ended Dec. 31, the OEM saw net income jump 17,000% to $15.6 million. Sequential revenue for wedge bonder equipment increased 35.7%.

On a conference call with analysts this week, president and CEO Fusen Chen touted the firm's electronic assembly business, the former Assembleon: "[It] continued to perform well, which we opened automotive and the industrial customers. With a goal to meet for higher accuracy placement, we feel there is a sizeable and max need in Asia for communication infrastructure applications."

"This is a very competitive market," he added, "but we can believe we have good opportunities, by putting proper resource and I think we are again in summer catching, we don’t need to put even more R&D to compete in this market."

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