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 ...

Financial Performance - For the year ended December 25, 2021, Cohu's net sales increased by 39.5% year-over-year to $887.2 million[209] - Cohu's consolidated net sales increased by 39.5% from $636.0 million in 2020 to $887.2 million in 2021, driven by strong demand in automotive and industrial markets[234] - Net income from continuing operations was $167.3 million in 2021, compared to a net loss of $13.8 million in 2020[257] - Cash provided by operating activities totaled $97.7 million in 2021, an increase from $49.7 million in 2020[265] Market Demand - The strong demand in 2021 was driven by robust automotive demand, particularly in xEV and ADAS technologies, and near record levels of demand for equipment testing 5G, Wi-Fi 6, and Ultra-Wideband devices[209] - The long-term market drivers for Cohu remain intact, with optimism about the increasing ubiquity of semiconductors and the future rollout of 5G networks[210] Expenses and Margins - Gross margin improved to 43.6% in 2021 from 42.7% in 2020, attributed to increased business volume allowing better leverage of fixed costs[235] - Research and Development (R&D) expenses were $92.0 million, or 10.4% of net sales in 2021, compared to $86.2 million, or 13.5% of net sales in 2020, reflecting higher labor and material costs[239] - Selling, General and Administrative (SG&A) expenses decreased to 14.3% of net sales in 2021 from 20.3% in 2020, totaling $127.0 million, partly due to the sale of the PCB Test business[240] Debt and Financing - Cohu took actions to reduce outstanding principal under its Term Loan Credit Facility, prepaying $100 million in the first quarter and an additional $100 million on June 30, 2021[209] - Interest expense decreased significantly to $6.4 million in 2021 from $13.8 million in 2020, due to a reduction in the outstanding balance of the Term Loan Credit Facility[246] - Total indebtedness as of December 25, 2021, was $117.8 million, including $101.6 million under the Term Loan Credit Facility[260] - The company prepaid $200.0 million of its Term Loan Credit Facility in 2021, resulting in a loss of $3.4 million[274] Inventory and Assets - Cohu's inventory valuation includes reserves for estimated excess and obsolete inventory, which could negatively impact gross margin if future demand is less than projected[217] - Cohu recorded net charges of approximately $7.1 million for excess and obsolete inventory in 2021, compared to $6.0 million in 2020[237] - Cash, cash equivalents, and short-term investments increased by 123.4% to $379.9 million in 2021 from $170.0 million in 2020[264] - Working capital rose by 79.8% to $558.3 million in 2021, up from $310.6 million in 2020[264] Strategic Actions - A gain of $70.8 million was realized from the sale of the PCB Test business on June 24, 2021, as part of a strategic divestment[242] - Restructuring charges totaled $1.8 million in 2021, down from $7.6 million in 2020, as part of the integration plan following the merger with Xcerra[243] Tax and Valuation - The income tax provision for 2021 was 13.0%, compared to (5.1)% in 2020, influenced by federal tax credits and other factors[250] - The valuation allowance on deferred tax assets (DTAs) was approximately $76.3 million as of December 25, 2021, down from $86.1 million in the previous year[255] Foreign Currency Exposure - The company is exposed to fluctuations in foreign currencies, particularly the Swiss Franc, Euro, and Japanese Yen, which can impact reported earnings[293] - As of December 25, 2021, fluctuations in foreign currency exchange rates resulted in a decrease of $23.0 million in stockholders' equity due to foreign currency translation adjustments[296] - A hypothetical 10% devaluation of the U.S. dollar would lead to an approximate $31.1 million positive translation adjustment in other comprehensive income within stockholders' equity[297]

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 ...

November 2021 Company Confidential Cohu Investor Presentation 心 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 Semi market sizes and CAGR, Target mid-term financial model, target revenue CAGRs by product line, secular tailwinds driving end market growth, produc ...

October 28, 2021 October 28, 2021 Page 1 Q3'21 Financial Results 詹 Cohu Cautionary Statement Regarding Forward Looking Statements Forward Looking Statements: Certain statements contained in this release and accompanying materials may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding estimated test cell utilization, expansion of testers and contactors in power management, display driver, RF mmWave and broad ...

Cohu, Inc. (NASDAQ:COHU) Q3 2021 Earnings Conference Call October 28, 2021 4:30 PM ET Company Participants Jeff Jones - Chief Financial Officer Luis Müller - President & Chief Executive Officer Conference Call Participants Brian Chin - Stifel Craig Ellis - B. Riley securities Tom Diffely - D.A. Davidson David Duley - Steelhead Securities Christian Schwab - Craig-Hallum Charles Shi - Needham & Company Operator Good day and thank you for standing by. Welcome to the Cohu Incorporated Third Quarter 2021 Financi ...