Cohu Inc ( (COHU) ) has released its Q3 earnings. Here is a breakdown of the information Cohu Inc presented to its investors.
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Cohu, Inc. is a global technology leader that supplies test, automation, inspection, and metrology products and services to the semiconductor industry, aiming to optimize manufacturing yield and productivity. In its latest earnings report for the third quarter of 2024, Cohu reported net sales of $95.3 million with a gross margin of 46.8%. Despite achieving sequential order growth, the company faced a GAAP net loss of $18.1 million or $0.39 per share. The company’s non-GAAP results showed a smaller loss of $3.8 million or $0.08 per share.
Key financial highlights from the report include a sequential 8% improvement in recurring order growth and total cash and investments of $269.2 million at the quarter’s end. Cohu also completed the repurchase of 315,000 shares of its common stock, amounting to approximately $8.1 million. The company continues to focus on strategic product development, particularly in data centers, while expanding its inspection metrology business with its new Neon and Krypton systems.
Looking forward, Cohu anticipates fourth-quarter 2024 sales to range around $95 million, with a potential variance of $7 million. The company remains committed to executing its strategy of capturing design wins and expanding its recurring software revenue, despite the challenges faced in the semiconductor industry.
