Cohu (COHU) Guides Q2 Revenue Above Consensus

Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today provided a business update to its fiscal second quarter 2022 guidance:

• Expect second quarter revenue of $216 to $218 million, higher than the guidance range mid-point of $213 million; second quarter recurring revenue is expected to be approximately 39%
• Second quarter ending backlog is expected to be approximately $342 million, substantially shipping over the next three quarters
• Gross margin is expected to be in-line with second quarter non-GAAP guidance
• Repurchased 504,102 shares totaling approximately $14 million during the second quarter
• Repaid approximately $16 million of term loan B debt reducing the second quarter outstanding balance to approximately $79 million
• Expect second quarter ending cash balance to be approximately $368 million

(Consensus sees Q2 revenue of $213 million)

Cohu will provide detailed comments on second quarter results and third quarter guidance during its earnings call on Thursday, July 28, 2022.

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