Cohu expects rebound in chip-test handler orders
Semiconductor Business News
(10/20/00, 03:32:31 PM EDT)
SAN DIEGO -- Cohu Inc. said it anticipates an uptick in orders for semiconductor-test handlers in the coming quarters as backend assembly and chip-testing operations catch up with strong growth in wafer-processing tools. On Thursday, Cohu reported its sales grew 25% to $77.2 million in the third quarter, compared to $61.7 million in the period last year.
The company's net income for the third quarter was $9.8 million vs. $7.5 million last year. However, Cohu's $0.36-per-share earnings fell short of a $0.40-per-share estimate on Wall Street, according to First Call/Thomson Financial.
Cohu said new orders for the third quarter totaled $60.2 million, a decline of 21% from $76.5 million last year. Cohu reported a backlog of $51.8 million on Sept. 30, compared to $68.8 million at the end of the second quarter (June 30).
"While we are disappointed with the decline in orders in the third quarter, we are encouraged by the order strength of certain front-end semiconductor equipment companies, as back-end orders often lag the front-end," said James A. Donahue, president and CEO of the San Diego company. "In addition, industry forecasts show growing demand for IC test handlers over the next several years. Our strong market position, broad product portfolio and product development initiatives will benefit the company as IC handler orders strengthen."
Test handling equipment accounted for 87% of Cohu's total revenues. Sales of television cameras and related equipment were 9% of sales. Metal detection and microwave equipment accounted for 4% of sales in the third quarter. |
