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Sep 26, 2020
Cohu Q3 2020 Earnings Report
Reported net sales exceeding guidance, improved mobility segment, and reduced term loan debt.
Key Takeaways
Cohu reported Q3 2020 net sales of $150.6 million, exceeding previous guidance. The company experienced a GAAP loss of $6.6 million, or $0.16 per share, but a non-GAAP income of $11.6 million, or $0.27 per share. The mobility segment continued to strengthen, and demand from automotive and industrial segment customers improved.
Net sales of $150.6 million exceeded previous guidance.
Gross margin of 42.2%; non-GAAP gross margin of 44.0%.
Reduced Term Loan B debt associated with the financing of the Xcerra acquisition by $17.3 million.
Strong mobility orders for RF testers and handlers were driven by new 5G smartphones.
Forward Guidance
Cohu expects fourth quarter 2020 sales to be between $176 million and $192 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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