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Apr 01, 2023
Cohu Q1 2023 Earnings Report
Reported first quarter results with focus on operational performance and recurring business.
Key Takeaways
Cohu reported Q1 2023 net sales of $179.4 million and GAAP income of $15.7 million, or $0.33 per share. Non-GAAP income for the quarter was $26.9 million, or $0.56 per share. The company is aligning investments with major trends and expanding its factory footprint in the Philippines to support future growth.
Gross margin was 48.1%, with non-GAAP gross margin at 48.2%.
Received a large order for SiC device test automation and inspection equipment.
Expanding Philippines factory to support interface business growth plans.
Recurring business delivered $334 million revenue over the last 12 months.
Forward Guidance
Cohu expects second quarter 2023 sales to be between $161 million and $173 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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