Kulicke & Soffa Industries Inc. ( KLIC ) gained 16 percent to $10.42 in morning trade on the Nasdaq, the highest intraday price since February 1. The chip equipment maker reported quarterly results above market estimates. For the quarter ended April 2, the company posted a net income of $39.9 million, or $0.54 a share, compared with $21.2 million, or $0.28 a share, y/y. Analysts were expecting $0.36 a share in profit. KLIC said it expects forecast sales in Q3 of at least $255 million, beating the average analyst estimate of $199 million. Volume has exploded with nearly 6 million KLIC shares already trading hands compared to a 3-month daily average volume of 1.16 million. Day's range: $10.06 to $10.46. Previous close: $9.03.