Cohu (COHU) Tops Q2 EPS by 10c, Revenues Beat

Cohu (NASDAQ: COHU) reported Q2 EPS of $0.17, $0.10 better than the analyst estimate of $0.07. Revenue for the quarter came in at $144.1 million versus the consensus estimate of $142.37 million.

• Sales of $144.1 million with manufacturing facilities fully operational
• Gross margin of 42.3%; non-GAAP gross margin of 42.5%
• Strong RF tester demand; PCB test record orders
• Multiple design-wins for handler and inspection systems

Total cash and investments at the end of second quarter 2020 were $163.6 million.

“Semiconductor customers drove strong demand for Cohu RF testers for next generation smartphones with 5G connectivity, along with consumer and industrial IoT applications. We captured multiple design-wins in the quarter, including a wafer-level chip-scale MEMS solution, new business for vision inspection, a strip handler for a leading analog IC manufacturer, and were selected for high-end memory test in engineering by a U.S.-headquartered customer. Second quarter orders for PCB test were at record highs driven by expansion in telecommunications, computing and network infrastructure,” said Cohu President and CEO Luis Müller. “While the automotive segment is slowly recovering, our third quarter guidance reflects expected strong RF and PCB tester shipments, and new customer traction for handlers and inspection equipment.”

Cohu expects third quarter 2020 sales to be between $134 million and $146 million.

For earnings history and earnings-related data on Cohu (COHU) click here.

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