Singapore based equipment supplier K&S announced financial results of its fiscal 3Q20 ended June 27, 2020. The company posted revenue of US$ 150.5 million which grown by 18.4% YoY.

For the third fiscal quarter of 2020, K&S reported a gross profit of US$ 69.4 million and a gross margin of 46.1%. On the non-GAAP base, the company’s net income grew by 258.3% YoY to 12.9 million.

The increased profit and revenue were boosted by the company’s recently mass produced Pixalux, which was designed to meet the high speed transfer needs in Mini LED and Micro LED production.

Dr. Fusen Chen, K&S' President and CEO, stated, "During the June quarter we maintained our pace of development, ramped production of Pixalux, increased share repurchase activity and also delivered strong financial performance."

The company recognized revenue on 25 Pixalux Mini and Micro LED systems. K&S’ global manufacturing facilities are operating at nearly full capacity, and the company believes prior COVID-19-related supply-chain risks have been reduced significantly from the previous quarter.

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