Cohu Reports Fourth Quarter Operating Results

Cohu, Inc. (NASDAQ:COHU) today reported fiscal 2011 fourth quarter net sales of $66.6 million and GAAP net income of $0.7 million or $0.03 per share. Net sales for the twelve months ended 2011 were $309.0 million and GAAP net income was $15.7 million or $0.64 per share.

The Company also reported non-GAAP results, with fourth quarter 2011 net income of $2.8 million or $0.12 per share and net income of $23.4 million or $0.96 per share for the twelve months ended 2011.
GAAP Results      
  Q4 FY 2011 Q3 FY 2011 Q4 FY 2010
Net sales $ 66.6 million $ 71.8 million $ 96.9 million
Net income $ 0.7 million $ 3.4 million $ 9.4 million
Income per share $0.03 $0.14 $0.39
 
12 Months 2011 12 Months 2010
Net sales $ 309.0 million $ 322.7 million
Net income $ 15.7 million $ 24.6 million
  Income per share   $0.64   $1.02    
               
Non-GAAP Results
Q4 FY 2011 Q3 FY 2011 Q4 FY 2010
Non-GAAP net income $ 2.8 million $ 5.1 million $ 11.7 million
Non-GAAP income per share $0.12 $0.21 $0.48
 
12 Months 2011 12 Months 2010
Non-GAAP net income $ 23.4 million $ 33.2 million
  Non-GAAP income per share   $0.96   $1.38    
 

Sales of semiconductor equipment accounted for 78% of fiscal 2011 fourth quarter sales. Microwave communications equipment and video cameras and related equipment contributed 14% and 8%, respectively, for the same period.

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