[COHU] AV, Happen to know why COHU is down and yet good stats and PE of 9+?:
cohu.com
G'Day
E7
COHU, INC. ANNOUNCES 1998 FIRST QUARTER RESULTS
SAN DIEGO, Calif., April 16, 1998 - Cohu, Inc. (NASDAQ:COHU) today announced that sales for the first quarter ended March 31, 1998 were a record $56.7 million, an increase of 63% from $34.8 million for the first quarter of 1997, and an increase of 2% from $55.6 million for the fourth quarter of 1997. Net income for the first quarter of 1998 was $8.2 million, an increase of 74% from $4.7 million for the first quarter of 1997 and a decrease of 9% from net income of $9 million for the fourth quarter of 1997. Diluted earnings per share were $.82 for the first quarter of 1998 compared to $.48 per share in the first quarter of 1997 and $.90 per share in the fourth quarter of 1997.
Orders for the first quarter of 1998 were $54.6 million compared to first quarter 1997 orders of $37.7 million and fourth quarter 1997 orders of $56.8 million. Backlog at March 31, 1998 was $53.4 million compared to fourth quarter 1997 backlog of $55.5 million.
First quarter 1998 sales of semiconductor test handling equipment increased 82% over first quarter 1997 sales and accounted for 84% of total sales in the first quarter of 1998. Sales of television cameras and related equipment were 10% of sales in 1998 and metal detection and microwave equipment contributed 6% of sales.
Geographic distribution of first quarter 1998 sales of semiconductor test handling equipment was N. America, 51%; Asia Pacific, where a significant percentage of sales were to offshore operations of U.S. based semiconductor manufacturers, 47%; and the rest of the world including Japan and Korea, 2%.
Charles A. Schwan, president and chief executive officer, stated, 'We believe that our global market presence and strong balance sheet place the company in a position to benefit from the favorable long term outlook of the semiconductor industry."
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