I listened to the conference, and now feel much better.
Couple of points:
Orders accelerated during the qtr, with March having 58% of bookings. 2nd Qtr. starting out very well as well.
There is no technical problem in getting the equipment approved. It is more logistical and such, just to get the equipment to the purchaser and set up and operational. The engineers are not reporting any sort of problems in getting equipment operational, and COHU's historical rates of equipment rejection is very very low, less than 1/2 of 1%.
The Summit handler has a high profit margin. (higher than the other handlers). And we have a large number of Summit handlers delivered and about to be counted as revenue, which would tend to raise margins when counted as revenue.
THey are working on two new handlers: the 1888, which is a gravity feed handler well-adapted to the fast-growing wireless market. It will have its first delivery in the 3rd Qtr. (there is also the existing 1688, serving the RF and wireless market, but a pick and place piece).
The other new handler is a parallel testing piece, first delivery anticipated before the end of the year.
If COHU was not my largest holding, I'd add more on Monday if it does indeed drop on Monday. Who knows, maybe it won't. Maybe someone will upgrade on Monday.
Happy Easter all.
GTW |
