GOOD earnings beat consensu by 9 cents. Beat on revenue. Record backlog to be worked out over next few quarters.
UHHH, we're getting good future vision - they never do that - it has to be s solid backlog.
Guidance now finally over 200 million for Q2.
This is good in every regard.
Let's continue the pop in the morning!
Cohu Reports First Quarter 2022 Results
First quarter revenue $197.8 million, up 3.1% quarter-over-quarterGross margin of 46.1%; non-GAAP gross margin of 46.1%$45 million incremental design-win orders from tester market diversificationRecord order backlog expected to ship over multiple quartersPOWAY, Calif.--(BUSINESS WIRE)--Apr. 28, 2022-- Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today reported fiscal 2022 first quarter net sales of $197.8 million and GAAP income of $21.6 million or $0.44 per share. Cohu also reported first quarter 2022 non-GAAP income of $32.6 million or $0.66 per share.
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| | | GAAP Results
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| | | (in millions, except per share amounts)
| | Q1 FY 2022
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| Q4 FY 2021
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| Q1 FY 2021
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| | | Net sales
| | $197.8
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| $191.9
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| $225.5
| | | Net income
| | $21.6
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| $20.9
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| $27.6
| | | Net income per share
| | $0.44
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| $0.42
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| $0.61
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| | | Non-GAAP Results
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| | | (in millions, except per share amounts)
| | Q1 FY 2022
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| Q4 FY 2021
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| Q1 FY 2021
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| | | Net income
| | $32.6
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| $35.6
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| $40.6
| | | Net income per share
| | $0.66
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| $0.72
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| $0.89
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Total cash and investments at the end of first quarter 2022 were $358.6 million and our Term Loan B principal amount was $95.3 million. Cohu repurchased 213,706 shares of its common stock in the first quarter for an aggregate amount of approximately $6.4 million.
“Cohu started 2022 on a strong note with revenue, gross margin and profitability exceeding expectations driven by customer acquisitions and effective supply chain management. Backlog is at record level after another strong booking quarter highlighted by key design-wins by our tester business in late 2021,” said Cohu President and CEO Luis Müller. “We are encouraged by the progress of our contactor manufacturing insourcing and the broadening of Cohu’s tester addressable market. We remain on pace to achieve our mid-term targets of 25% non-GAAP operating income at $1 billion revenue.”
Cohu expects second quarter 2022 sales to be between $205 million and $221 million. Sneaking up to a billion dollar 4 quarters!
Bob |
