Cohu (COHU) Investor Presentation - Slideshow

Company Overview - Cohu operates in the $6.5 billion Semiconductor and PCB markets[8] - The company's Last Twelve Months (LTM) revenue is approximately $723 million, representing about 41% of recurring revenue[8] - Cohu has achieved a 5-year revenue Compound Annual Growth Rate (CAGR) of approximately 19%[8] Financial Targets and Outlook - The mid-term target model includes a gross margin of 48% and an operating income of 23%[9] - Q2'21 revenue guidance is between $234 million and $250 million[26] - The adjusted EBITDA for Q2'21 is expected to be around 22% at the midpoint of the guidance[26] Growth Strategy - Target revenue CAGR for Auto ADAS & Electrification is 17%, Industrial Automation is 12%, Sensing & Power is 20%, and Data Processing & Storage is 12%[10] - The company is focused on extending leadership in high-growth RF test and delivering high yield test and inspection for 5G, ADAS, and xEV applications[9] - The company aims to achieve approximately 14% revenue CAGR, which is 2x the market growth[42] Divestment and Capital Allocation - The PCB Test business was divested to Mycronic AB for $125 million, which is approximately 24x LTM revenue of $52.9 million[31] - Estimated net proceeds from the divestment are expected to be between $95 million and $100 million after transaction costs and taxes[31] - The company intends to use the proceeds to repay outstanding principal on the term loan B facility[31]