Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: robert b furman who wrote (7415)

7/28/2022 4:39:25 PM

From: robert b furman

Respond to of 7822

Earnings are out:

<< Back

Cohu Reports Second Quarter 2022 Results

Second quarter revenue $217.2 million, up 9.8% quarter-over-quarterGross margin of 46.5%; non-GAAP gross margin of 46.5%Leading U.S. semiconductor manufacturer selected DiamondxPOWAY, Calif.--(BUSINESS WIRE)--Jul. 28, 2022-- Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today reported fiscal 2022 second quarter net sales of $217.2 million and GAAP income of $28.8 million or $0.59 per share. Net sales for the first six months of 2022 were $415.0 million and GAAP income was $50.3 million or $1.02 per share.

Cohu also reported non-GAAP results, with second quarter 2022 income of $39.7 million or $0.81 per share and income of $72.3 million or $1.47 per share for the first six months of 2022.


GAAP Results
(in millions, except per share amounts)	Q2 FY 2022		Q1 FY 2022		Q2 FY 2021		6 Months 2022		6 Months 2021
Net sales	$	217.2	$	197.8	$	244.8	$	415.0	$	470.3
Net income	$	28.8	$	21.6	$	95.1	$	50.3	$	122.7
Net income per share	$	0.59	$	0.44	$	1.92	$	1.02	$	2.58



Non-GAAP Results
(in millions, except per share amounts)	Q2 FY 2022		Q1 FY 2022		Q2 FY 2021		6 Months 2022		6 Months 2021
Net income	$	39.7	$	32.6	$	44.2	$	72.3	$	84.8
Net income per share	$	0.81	$	0.66	$	0.89	$	1.47	$	1.79

Total cash and investments at the end of second quarter 2022 were $368.1 million and our Term Loan B principal amount was $79.3 million. Cohu repurchased 504,102 shares of its common stock in the second quarter for an aggregate amount of $14.0 million.

“We reported another outstanding quarter with gross margin progressing toward our mid-term target financial model and benefiting from growth of our semiconductor test business and increased insourcing of contactor manufacturing. With test cell utilization estimated at approximately 84% and our recurring revenue at 39% of second quarter revenue, Cohu continues to build a well-balanced and resilient business model,” said Cohu President and CEO Luis Müller. “We continue to capture new customers and diversify our tester business with increased penetration of Diamondx across mid-range mixed signal customers.”

Cohu expects third quarter 2022 sales to be between $198 million and $212 million.

No AH trading at this point. Going to webcast!

Bob

To: robert b furman who wrote (7415)	7/28/2022 10:47:44 PM
From: the longhorn	1 Recommendation Recommended By Winfastorlose Read Replies (1) \| Respond to of 7822

Wow, Bob...look at you! Ewave expert! Impressive! Maybe if I ever retire I would find the time to dig into it a little deeper. Have the book by Glenn Nealey which is a modernized interpretation. I think good ewave is as much art as it is science. Always most impressed with Breeze's and da cheif's approaches. COHU...good days ahead, eh! Loaded up pretty heavy for the next run. Did you get your garlic harvested? We did well here on this year's crop. Finally learned how to grow Inchilium...it is a wonderful variety. Sold 5 steers yesterday. Had really good weight on them. Beef prices going to get very high this winter. Buy some ahead and fill the freezer. lh