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Technology Stocks : Cohu, Inc. (COHU) -- Ignore unavailable to you. Want to Upgrade?

To: semi2000 who wrote (1380)	8/22/1999 10:41:00 PM
From: semi2000	Read Replies (1) \| Respond to of 7826

EBN article on Rambus DRAM See comments in the end specifically ... ebnews.com

To: semi2000 who wrote (1380)	8/23/1999 12:59:00 AM
From: KLINVESTOR	Respond to of 7826

Semi2000, I like the table you prepared! Cohu is a great company to analize because everything always looks so obvious in retrospect. Going forward one quarter is also usually pretty easy also. It is after one quarter out that visibility gets a bit dim sometimes. I previously estimated Cohu would make 82 cents during the 3rd quarter. I still think something in that range is likely. The "one" analyst with an earnings estimate has 59 cents as his estimate. (Hint: Senior management needs to address this issue!) Clearly way off the mark. I think anyone doing their homework will see that so when they beat that in October it may not be the big a surprise. What your table does a great job of highlighting is the backorder and total order trend. The ramp up in orders has been incredible. Over $62 million in orders during the 2nd quarter which looks like a record. The backlog is close to a record. Thus clearly the sales for the 3rd quarter will be up around $60 million or so if not a bit more. The most important thing is that this still appears to be very early in the semi recovery. Hindsight is 20:20 but in 1997 when the semi-equip industry hit the wall towards the end of the year and continuing through 1998 it should have been obvious (I missed it though) that with semi prices dropping greatly (DRAMs in particular) that equipment purchases would be dropping. And of course they did. The situation now "appears" to be totally different. Equipment sales are taking off. They flattened a bit over the past month or two but most importantly it appears DRAM prices are jumping back now after falling during the 2nd quarter. That combined with a very vibrant communications market, Asia bouncing back, and the new DRAM chips leads me to believe we could see some very healthy equipment sales and an increasing market for the next couple of years. I do not agree that we will see a drop later this year. It is to early in the cycle and there are to many new drivers of semi equip demand and Cohu definitely has the edge in their niche of test handling equipment with an unbelieveably low share price relative to sales and likely earnings next year. Good luck to all!

To: semi2000 who wrote (1380)	10/14/1999 7:12:00 PM
From: semi2000	Read Replies (1) \| Respond to of 7826

Updated COHU data - 6/96 9/96 12/96 3/97 6/97 9/97 12/97 3/98 6/98 9/98 12/98 3/99 6/99 9/99 sales 45.9 34.8 28.5 34.8 44.6 52.8 55.6 56.7 55.2 34.3 25.3 29.5 43.5 61.7 income 7.58 5.2 3.6 4.7 6.9 8.5 9 8.2 5.3 0.5 -2.3 1.4 4.9 7.5 persh 0.78 0.54 0.37 0.48 0.7 0.85 0.9 0.82 0.53 0.05 -0.24 0.14 0.48 0.36 orders 41.6 23.9 35.1 37.7 53.9 60.9 56.8 54.6 42.4 17.7 29.4 38.9 62.3 76.5 bklg 38.1 27.3 54.3 36.9 46.2 54.3 55.5 53.4 40.6 24 28.1 37.5 56.3 71.1 cost 24.8 19.9 16.5 19.9 25.1 29.5 31.5 33.4 35.6 25.6 21.8 19.2 25.8 37.1 r&d 3.8 3.3 3.3 3.3 4.3 4.7 5.2 5.4 5.9 4.7 4.4 4.3 5.1 5.8 sga 5.4 3.8 3.9 4.8 5.2 5.7 5.7 6.2 6.2 4.2 4.5 5.1 6.2 8.4 int 0.4 0.5 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.8 1.1 1.1 1.1 1.1 woff 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0