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Cohu Reports Third Quarter Operating Results

Cohu, Inc. (NASDAQ:COHU) today reported fiscal 2011 third quarter net sales of $71.8 million and GAAP net income of $3.4 million or $0.14 per share. Net sales for the first nine months of 2011 were $242.4 million and GAAP net income was $15.0 million or $0.61 per share.

The Company also reported non-GAAP results, with third quarter 2011 net income of $5.1 million or $0.21 per share and net income of $20.6 million or $0.84 per share for the first nine months of 2011.

GAAP Results      
  Q3 FY 2011 Q2 FY 2011 Q3 FY 2010
Net sales $ 71.8 million $ 80.9 million $ 86.1 million
Net income $ 3.4 million $ 5.1 million $ 7.6 million
Income per share $0.14 $0.21 $0.32
 
9 Months 2011 9 Months 2010
Net sales $ 242.4 million $ 225.8 million
Net income $ 15.0 million $ 15.2 million
  Income per share   $0.61   $0.63    
               
Non-GAAP Results
Q3 FY 2011 Q2 FY 2011 Q3 FY 2010
Non-GAAP net income $ 5.1 million $ 6.8 million $ 9.8 million
Non-GAAP income per share $0.21 $0.28 $0.41
 
9 Months 2011 9 Months 2010
Non-GAAP net income $ 20.6 million $ 21.5 million
  Non-GAAP income per share   $0.84   $0.90    

Sales of semiconductor equipment accounted for 83% of fiscal 2011 third quarter sales. Microwave communications equipment and video cameras and related equipment contributed 11% and 6%, respectively, for the same period.

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