Exhibit 99.1

NEWS for Immediate Release

Kulicke & Soffa Reports Results for Fiscal Year 2003

A conference call to discuss these results will be held today beginning at 9:00 AM EST. Interested participants may call 416-695-6140 for the teleconference or log on to http://www.kns.com/investor/webcast.asp for listen-only mode.

Willow Grove, PA—November 17, 2003—Kulicke & Soffa Industries, Inc. (Nasdaq: KLIC) today announced financial results for its fourth quarter and fiscal year ended September 30, 2003.

Revenue for the fourth quarter ended September 30, 2003 was $129.3 million compared to revenue in the fourth quarter ended September 30, 2002 of $122.2 million. The net loss for the fourth fiscal quarter of 2003 was $28.4 million or a loss of $0.57 per fully diluted share versus a net loss of $195.0 million or a loss of $3.95 per fully diluted share in the same quarter of 2002. Charges contributing to those losses are noted in the attached financial schedules.

For the full year ended September 30, 2003, revenue was $494.3 million compared to revenue for the year ended September 30, 2002 of $464.7 million. The net loss for the year ended September 30, 2003 of $76.7 million or $1.54 per fully diluted share compared to a net loss of $274.1 million or a loss of $5.57 per fully diluted share for the same period last year.

Commenting on the quarter just ended, C. Scott Kulicke, chairman and chief executive officer, stated, “In spite of the losses in the September 2003 quarter, these results indicate the progress the Company has made, as well as continued improvements in the semiconductor environment. In particular, I point to positive cash flow of $14 million during the quarter, as well as a 23% increase in backlog. The improvement in cash flow is principally the result of better inventory turns and working capital improvements. The backlog increase was the result of order activity in the end of September, which has continued throughout the current quarter. We are adding production capacity in our wire bonder business as quickly as we can, and as a result, our revenue guidance for the first quarter of 2004 ending December is for revenue of $150 million (plus or minus 5%).”

About Kulicke & Soffa

Kulicke & Soffa (Nasdaq: KLIC) is the world’s leading supplier of wire bonding equipment in the semiconductor assembly market. K&S is the only equipment supplier that also develops and manufactures the products that touch a semiconductor chip’s wire bonding pad surfaces, starting with electrical testing and ending with specially formed wire interconnections that remain as a part of the chip’s package. These products include: test probes; bonding wire; and capillaries, which provide an all-inclusive interconnect process when used with the company’s wire bonding equipment. In addition, the company offers Flip Chip wafer bumping services and technology. Chip scale and wafer level packaging solutions include Ultra CSP^® technology. Test interconnect products include standard and vertical probe cards, ATE interface assemblies and ATE boards for wafer testing, as well as test sockets and contactors for all types of packages. Kulicke & Soffa’s web site address is http://www.kns.com.

Caution Concerning Forward Looking Statements

This press release contains forward-looking statements which are found in various places throughout the press release. While these forward-looking statements represent our judgments and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, those listed or discussed in Kulicke & Soffa Industries’ 2002 Annual Report on Form 10-K and: the risk of failure to successfully manage our operations; the risk that anticipated orders may not materialize or that orders received may be postponed or canceled, generally without charges; the risk that anticipated cost savings will not be achieved; the volatility in the demand for semiconductors and our products and services; acts of terrorism and violence; overall global economic conditions; risks, such as changes in trade regulations, currency fluctuations, political instability and war, associated with a substantial foreign customer and supplier base and

substantial foreign manufacturing operations; potential instability in foreign capital markets; and other key factors that could adversely affect our businesses and financial performance contained in past and future filings and reports, including those with the SEC. Kulicke & Soffa Industries is under no obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

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Company Contact: Michael Sheaffer, 215-784-6411, 215-784-6167 fax, msheaffer@kns.com

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(In thousands, except per share and employee data)

	Three months ended September 30,						Twelve months ended September 30,
	2002			2003			2002			2003
Net revenue	$	122,170		$	129,289		$	464,660		$	494,321
Cost of sales		94,348			96,962			365,799			370,881
Gross profit		27,822			32,327			98,861			123,440
Selling, general and administrative		37,933			25,212			139,134			106,868
Research and development, net		13,672			8,859			52,948			38,965
Resizing		6,274			(270	)		19,661			(475	)
Asset impairment (1)		26,704			7,704			31,594			10,502
Goodwill impairment (2)		74,295			5,667			74,295			5,667
Amortization of intangibles		2,423			2,316			9,864			9,260
Operating expense		161,301			49,488			327,496			170,787
Loss from operations		(133,479	)		(17,161	)		(228,635	)		(47,347	)
Interest, net		(4,595	)		(4,073	)		(14,929	)		(16,491	)
Loss on sale of assets (3)		—			(5,257	)		—			(5,257	)
Other income		2,000			—			2,010			—
Loss before income taxes		(136,074	)		(26,491	)		(241,554	)		(69,095	)
Income taxes		58,931			1,900			32,561			7,594
Net loss	$	(195,005	)	$	(28,391	)	$	(274,115	)	$	(76,689	)
Net loss per share:
Basic	$	(3.95	)	$	(0.57	)	$	(5.57	)	$	(1.54	)
Diluted	$	(3.95	)	$	(0.57	)	$	(5.57	)	$	(1.54	)
Weighted average shares outstanding:
Basic		49,362			50,030			49,217			49,695
Diluted		49,362			50,030			49,217			49,695
	Three months ended September 30,						Twelve months ended September 30,
	2002			2003			2002			2003
Additional financial data:
Depreciation and amortization	$	10,438		$	8,861		$	44,315		$	37,800
Capital expenditures	$	4,936		$	3,058		$	20,385		$	10,975
							September 30,
							2002			2003
Backlog of orders							$	54,000		$	68,000
Number of employees								3,297			3,169

Note: (1) The September 30, 2003 quarter includes a charge of $6.9 million at the Company’s flip chip business unit to write-down assets to realizable value and $830 thousand resulting from the write-down in other business units of obsolete and sold assets. In addition, the twelve months ended September 30, 2003 charge includes $1.7 million associated with the discontinuation of a test product; and $1.2 million associated with the closure of a test facility in Dallas, Texas. The September 30, 2002 quarter includes charges of $16.9 million due to the cancellation of a company-wide integrated information system; $8.4 million due to the write-off of assets associated with the closure of the Company’s substrate operation; and $1.4 million of write-offs associated with a closed wire facility in Taiwan. In addition, the twelve months ended September 30, 2002 charge includes; $3.6 million for the write-off of development and license costs of certain engineering and manufacturing software and $1.3 million related to leasehold improvements at leased probe card manufacturing facilities in Malaysia and the United States, which were closed.

           (2) Fiscal 2003 expense includes $5.7 million of goodwill associated with the Company’s flip chip business unit that could not be supported by current forecasts of future cash flows and was written-off. Fiscal 2002 expense includes a goodwill impairment loss of $72.0 million in the Company’s test business unit and a goodwill impairment loss of $2.3 million in its hub blade business unit.

           (3) In the September 30, 2003 quarter, the Company sold the assets associated with its sawing equipment (dicing) and hard materials blades operations for $1.2 million in cash. The sale included the fixed assets, inventories, and intellectual property of the Company’s sawing equipment business and its Micro-Swiss hard material blades business located in Israel. The Company wrote-off $6.5 million of net assets associated with this sale. In addition, the Company sold the assets of its polymers business for $105 thousand.

KULICKE & SOFFA INDUSTRIES, INC.

CONSOLIDATED BALANCE SHEET

(In thousands)

	September 30,			September 30,
	2002			2003
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	85,986		$	65,725
Restricted cash		3,180			2,836
Short-term investments		22,134			4,490
Accounts and notes receivable (less allowance for doubtful accounts: 9/30/02 – $6,033; 9/30/03 – $5,929)		89,132			94,144
Inventories, net		50,887			37,906
Prepaid expenses and other current assets		10,508			11,187
Deferred income taxes		16,072			10,700
TOTAL CURRENT ASSETS		277,899			226,988
Property, plant and equipment, net		89,742			61,238
Intangible assets, (net of accumulated amortization: 9/30/02 – $16,927; 9/30/03 – $26,187)		75,509			66,249
Goodwill		87,107			81,440
Other assets		8,425			6,946
TOTAL ASSETS	$	538,682		$	442,861
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Debt due within one year	$	186		$	36
Accounts payable		55,659			45,844
Accrued expenses		52,581			41,885
Income taxes payable		9,660			13,394
TOTAL CURRENT LIABILITIES		118,086			101,159
Long term debt		300,393			300,338
Other liabilities		14,106			9,865
Deferred taxes		36,774			31,402
TOTAL LIABILITIES		469,359			442,764
SHAREHOLDERS’ EQUITY
Common stock, without par value		199,886			203,607
Retained deficit		(119,103	)		(195,792	)
Accumulated other comprehensive loss		(11,460	)		(7,718	)
TOTAL SHAREHOLDERS’ EQUITY		69,323			97
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	538,682		$	442,861

KULICKE & SOFFA INDUSTRIES, INC.

OPERATING RESULTS BY BUSINESS SEGMENT

(In thousands)

(Unaudited)

Fiscal 2003:
	Equipment Segment			Packaging Materials Segment			Advanced Packaging Segment			Test Segment			Corporate			Consolidated
Quarter ended September 30, 2003:
Net revenue	$	52,567		$	45,484		$	4,675		$	26,563		$	—		$	129,289
Cost of sales		32,898			34,821			5,585			23,658			—			96,962
Gross profit		19,669			10,663			(910	)		2,905			—			32,327
Operating costs		15,979			5,631			931			10,099			3,747			36,387
Resizing		(175	)		(20	)		—			—			(75	)		(270	)
Asset impairment		—			385			7,119			200			—			7,704
Goodwill impairment		—			—			5,667			—			—			5,667
Income (loss) from operations	$	3,865		$	4,667		$	(14,627	)	$	(7,394	)	$	(3,672	)	$	(17,161	)
Twelve months ended September 30, 2003:
Net revenue	$	198,447		$	174,471		$	16,521		$	104,882		$	—		$	494,321
Cost of sales		129,092			132,779			21,154			87,856			—			370,881
Gross profit		69,355			41,692			(4,633	)		17,026			—			123,440
Operating costs		67,490			25,408			5,509			41,223			15,463			155,093
Resizing		(175	)		(20	)		(102	)		(103	)		(75	)		(475	)
Asset impairment		17			385			7,002			3,098			—			10,502
Goodwill impairment		—			—			5,667			—			—			5,667
Income (loss) from operations	$	2,023		$	15,919		$	(22,709	)	$	(27,192	)	$	(15,388	)	$	(47,347	)

Fiscal 2002:
Quarter ended September 30, 2002:	Equipment Segment			Packaging Materials Segment			Advanced Packaging Segment			Test Segment			Corporate			Consolidated
Net revenue	$	45,754		$	42,899		$	4,995		$	28,522		$	—		$	122,170
Cost of sales		34,945			31,375			5,874			22,154			—			94,348
Gross profit		10,809			11,524			(879	)		6,368			—			27,822
Operating costs		22,841			7,900			4,848			13,834			4,605			54,028
Resizing costs		(1,283	)		(569	)		8,616			(185	)		(305	)		6,274
Asset impairment		—			1,394			8,402			—			16,908			26,704
Goodwill impairment		—			2,295			—			72,000			—			74,295
Income (loss) from operations	$	(10,749	)	$	504		$	(22,745	)	$	(79,281	)	$	(21,208	)	$	(133,479	)
Twelve months ended September 30, 2002:
Net revenue	$	169,469		$	157,176		$	23,317		$	114,698		$	—		$	464,660
Cost of sales		142,965			118,080			25,068			79,686			—			365,799
Gross profit		26,504			39,096			(1,751	)		35,012			—			98,861
Operating costs		85,020			27,242			21,087			52,117			16,480			201,946
Resizing costs		4,781			167			9,720			4,715			278			19,661
Asset impairment		2,165			2,874			8,402			1,245			16,908			31,594
Goodwill impairment		—			2,295			—			72,000			—			74,295
Income (loss) from operations	$	(65,462	)	$	6,518		$	(40,960	)	$	(95,065	)	$	(33,666	)	$	(228,635	)