Cohu reported Q1 2020 net sales of $138.9 million and a GAAP loss of $17.3 million, or $0.42 per share. Non-GAAP income was $0.1 million, or $0.00 per share. The company's shipments were constrained in March due to COVID-19 pandemic driven government restrictions.
Sales of $138.9 million were supply chain constrained.
Gross margin of 40.4%; non-GAAP gross margin of 41.7%.
Strong booking quarter; semi tester orders up 70% year-over-year.
Board of Directors has authorized suspending the quarterly cash dividend to deleverage and strengthen balance sheet.
Cohu expects second quarter 2020 sales to be between $130 million and $155 million.
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