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Technology Stocks : Semi Equipment Analysis

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To: robert b furman who wrote (76262)	7/11/2017 8:35:29 PM
From: Donald Wennerstrom	2 Recommendations Recommended By JCnieuwenj Return to Sender Read Replies (1) of 95631

Cohu raises Q2 revenue guidance 4:31 PM ET 7/11/17 \| Briefing.com Sees Q2 revs +22% to $93 mln, up from $86 mln, vs $86.13 mln Capital IQ Consensus Gross margin in-line with previous non-GAAP guidance of ~40%. Operating expenses ~$1 million higher than previous non-GAAP guidance of ~$22 million, due to foreign currency losses. Looking forward, Cohu projects second half 2017 sales to be ~the same as first half 2017, with the typical seasonality between the third and fourth quarters. Luis Mller, President and Chief Executive Officer of Cohu, commented, "Our stronger than expected revenue in the second quarter was driven by continued momentum in the automotive and mobility markets, further highlighted by record orders in the quarter. These results reflect early acceptance of new products with existing customers as well as an increase in recurring revenue due to higher utilization across the installed base and particularly from computing applications. Our business continues to benefit from the growing trends of increased semiconductor content in automotive as well as greater device complexity in mobile handsets and IoT products, all of which drive the need for more advanced test handling equipment with extensive thermal and vision inspection capabilities. We look forward to discussing our complete financial results on our conference call in late July and also showcasing our newest products at our upcoming Corporate Access Day."

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