Cohu, Inc. (NASDAQ:COHU) Q3 2022 Results Conference Call October 27, 2022 4:25 PM ET Company Participants Jeff Jones - Chief Financial Officer Luis Muller - President & Chief Executive Officer Conference Call Participants Atif Malik - Citi Michael Mani - B. Riley Securities Robert Mertens - Cowen Christian Schwab - Craig-Hallum David Duley - Steelhead Securities Operator Good day and thank you for standing by. Welcome to the Cohu Inc. Third Quarter 2022 Financial Results Conference Call. At this time, all p ...

Financial Data and Key Metrics Changes - Cohu reported a revenue increase of 9.8% quarter-over-quarter to $217.2 million, with non-GAAP EPS at $0.81, exceeding guidance [5][24]. - Gross margin improved to 46.5%, benefiting from growth in the semiconductor test business and increased in-sourcing of contactor manufacturing [6][24]. - Operating expenses were lower than guidance at $51.9 million, with non-GAAP operating income at 22.6% of revenue and adjusted EBITDA at 24.9% [27][28]. Business Line Data and Key Metrics Changes - The semiconductor test business saw increased utilization, although it decreased by three points to about 84% due to softness in mobility and consumer markets [6]. - The Interface business benefited from demand in xEV and industrial power applications, capturing multiple system orders for silicon carbide power devices [10]. - The Inspection and Metrology segment qualified the Neon platform at two new customers and launched six new evaluations [13]. Market Data and Key Metrics Changes - Demand in automotive and industrial markets remains robust, while consumer and mobility demand has softened [19][20]. - Cohu anticipates strong performance in automotive, industrial, and data center markets, with expectations of a ramp in high-end smartphone demand and growth in automotive ADAS and xEV [21][22]. Company Strategy and Development Direction - Cohu aims to achieve a $1 billion revenue target and a 49% non-GAAP gross margin by expanding the use of Diamondx, vision inspection systems, interface products, and data analytics [22]. - The company is focused on increasing in-sourcing of contactor manufacturing to reach 80% by the end of the year, with a target gross margin of high 40% for the contactor business by mid-2023 [26]. Management's Comments on Operating Environment and Future Outlook - Management noted concerns about rising interest rates and persistent inflation in the U.S., but remains optimistic about converting new customer evaluations into wins [19][20]. - The company is not forecasting 2023 yet but expects a ramp in business driven by high-end smartphone demand and continued growth in automotive and industrial sectors [21][22]. Other Important Information - Cohu's cash flow from operations was strong at $44 million, with cash and investments growing to $368 million [28]. - The company is facing supply chain constraints, particularly with IC components, which negatively impacted gross margin by approximately 130 basis points in Q2 [25][70]. Q&A Session Summary Question: Market share wins and application gains - Management indicated that with delivery pressures relaxing, it is a better time to drive application wins and share gains, with several new evaluations expected over the next few quarters [31][32]. Question: Strategic sourcing and shipment confidence - Management confirmed that locking up supply on critical chips is tied to both backlog and market availability, providing a positive outlook for faster deliveries [34][35]. Question: Impact of automotive and industrial markets on gross margins - Management expects steady gross margins in the second half of the year, guided at 46.5%, with less impact from market mix due to structural improvements [36]. Question: Progress in silicon carbide products - Management elaborated on significant business captured in Japan for testing power management devices and ongoing business in silicon carbide automation and inspection [40][41]. Question: Lead times for different products - Lead times for test automation systems range from 14 to 24 weeks, while inspection systems are 20 to 24 weeks, and ATE platforms are 16 to 20 weeks [81]. Question: Exposure to Intel and implications - Management confirmed that Intel is not a 10% customer but does have business with them, particularly in automation systems and recurring business for data center applications [84].

July 28, 2022 July 28, 2022 Page 1 Q2'22 Financial Results 詹 Cohu Cautionary Statement Regarding Forward Looking Statements Forward Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding tester design wins, backlog expected to ship over multiple quarters, estimated test cell utilization, increasing demand for our products, opportunities f ...

COHU INVESTOR PRESENTATION July 2022 2 Cautionary Statement Regarding Forward-Looking Statements Forward-Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding all Serviceable Addressable Market (SAM) estimates, share and growth over time, market segments CAGRs and growth drivers for each business, 3-year target Plan or "Target Model" fin ...

COHU INVESTOR PRESENTATION June 2022 2 Cautionary Statement Regarding Forward-Looking Statements Forward-Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding all Serviceable Addressable Market (SAM) estimates, share and growth over time, market segments CAGRs and growth drivers for each business, 3-year target Plan or "Target Model" fin ...

April 28, 2022 April 28, 2022 Page 1 Q1'22 Financial Results 쓴Cohu Cautionary Statement Regarding Forward Looking Statements Forward Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding tester design wins, record backlog expected to ship over multiple quarters, estimated test cell utilization, increasing demand for our products, market ...

Cohu, Inc. (NASDAQ:COHU) Q1 2022 Earnings Conference Call April 28, 2022 4:30 PM ET Company Participants Jeff Jones - Senior Vice President & Chief Financial Officer Luis Müller - President & Chief Executive Officer Conference Call Participants Craig Ellis - B. Riley Securities Brian Chin - Stifel Quinn Bolton - Needham & Company Tyler Burmeister - Craig-Hallum Hans Chung - D.A. Davidson Operator Good day, and thank you for standing by. Welcome to the Cohu's First Quarter 2022 Financial Results Conference C ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4298 COHU, INC. (Exact name of registrant as specified in its charter) Delaware 95-1934119 (State or other jurisdict ...

Cohu, Inc. (NASDAQ:COHU) Q4 2021 Earnings Conference Call February 10, 2022 4:30 PM ET Company Participants Jeff Jones - Chief Financial Officer Luis Müller - President & Chief Executive Officer Conference Call Participants Toshiya Hari - Goldman Sachs Brian Chin - Stifel Krish Sankar - Cowen and Company Craig Ellis - B. Riley Securities Quinn Bolton - Needham Tom Diffely - D.A. Davidson Atif Malik - Citi David Duley - Steelhead Operator Good day. And thank you for standing by. Welcome to the Cohu Inc. Four ...

February 10, 2022 February 10, 2022 Page 1 Q4'21 Financial Results 쓴Cohu Cautionary Statement Regarding Forward Looking Statements Forward Looking Statements: Certain statements contained in this presentation may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding design wins in automotive, display driver and RF-FEM segments, estimated test cell utilization, scalability of our business model, increasing dema ...