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

To: Gottfried who wrote (2924)	5/17/2002 12:07:34 PM
From: Mr. Sunshine	Read Replies (2) \| Respond to of 7827

Annual Meeting The meeting was held in COHU's new building. Very, very nice, with lots of room for expansion. About 30 to 40 people there, many boardmembers and employees. I do not think there was any press. Hard to tell, they did not have any reserved seats for boardmembers or the press. Nothing exiting (there never is at COHU), but they gave a good presentation and an outstanding tour of the facilities. I only took a few notes. They started with the "smaller businesses" (i.e. non test handler business) of BMS, FRL and the electonics division. BMS makes microwave communications equipment, and are supplying datalinks for Unmanned Air Vehicles (UAV). I asked for more details, but there were no BMS people there and Donohue did not know. (Military UAV were used to great effect in Afghanistan, but much of the comms were by satelite. I do not understand where BMS fits in). FRL makes metal, including gold and silver, detectors. They have advanced acoustical leak detectors for water and gas that can detect leaks buried up to 15 feet. Electronics Division makes cameras for HIGH END applications. Seems all 3 of the above divisions are making too much money to discontinue the business, but too little money to spin off or sell. They are just puttering along, successful in their niche but with little hope or ambition of expanding much beyond their current place in the world. For Delta Design, they talked about a new product called the iCell, which combines a Delta test handler with a Terdayne tester for a higher throughput at less cost. The downturn has greatly reduced sales, and Delta has laid off about 60% of it's work force. They are concentrating of R&D, and feel that their very strong cash position will put them in a better position than their competitors when business turns around. All in all, not very much that is new. If anyone from COHU is reading this, thanks for the tour!!!