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TheStreet Open House

Cohu Reports Fourth Quarter 2012 Operating Results

Cohu, Inc. (NASDAQ:COHU) today reported fiscal 2012 fourth quarter net sales of $50.7 million and GAAP net loss of $5.2 million or $0.21 per share. Net sales for the twelve months ended 2012 were $221.2 million and GAAP net loss was $12.2 million or $0.50 per share.

The Company also reported non-GAAP results, with fourth quarter 2012 net loss of $1.7 million or $0.07 per share and net loss of $3.1 million or $0.13 per share for the twelve months ended 2012.

                   
GAAP Results            
    Q4 FY 2012 Q3 FY 2012 Q4 FY 2011
Net sales $ 50.7 million $ 57.7 million $ 66.6 million
Net income (loss) $ (5.2) million

$ (1.7) million

$ 0.7 million
Income (loss) per share $(0.21) $(0.07) $0.03
 
12 Months 2012 12 Months 2011
Net sales $ 221.2 million

$ 309.0 million

Net income (loss) $ (12.2) million $ 15.7 million
  Income (loss) per share     $(0.50)     $0.64      
                         
Non-GAAP Results
Q4 FY 2012 Q3 FY 2012 (1) Q4 FY 2011
Non-GAAP net income (loss) $ (1.7) million

$ (0.4) million

$ 2.8 million
Non-GAAP income (loss) per share $(0.07) $(0.01) $0.12
 
12 Months 2012 12 Months 2011
Non-GAAP net income (loss) $ (3.1) million $ 23.4 million
  Non-GAAP income (loss) per share     $(0.13)     $0.96      
 
(1) Non-GAAP results for the third quarter of 2012 were revised in the current period to exclude the impact of other acquisition costs incurred in connection with the acquisition of Ismeca Semiconductor.
 

Sales of semiconductor equipment accounted for 79% of fiscal 2012 fourth quarter sales. Microwave communications equipment and video cameras and related equipment contributed 14% and 7%, respectively, for the same period.

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