POWAY, CA – Cohu reported fourth quarter net sales of $202.4 million, up 42.5% year-over-year and 34.4% sequentially.
GAAP income for the quarter was $14.9 million, compared to a loss of $16.3 million in the same period of 2019 and $6.6 million in the third quarter.
Net sales for 2020 were $636 million, an increase of 9.1% compared to 2019. GAAP loss was $13.8 million for the year, compared to a loss of $69 million in 2019.
Total cash and investments at year-end 2020 were $170 million. During the fourth quarter, the company further reduced its Term Loan B debt associated with the financing of the Xcerra acquisition by $20.9 million.
“Cohu ended 2020 on a high note, with record fourth quarter orders and strong momentum for our semiconductor testers and handlers. Our interface business secured a key design-win for mmWave test at a leading foundry in Taiwan and OSAT in Korea,” said Cohu president and CEO Luis Müller. “We made substantial improvements to our product portfolio over the past two years and have positioned the company for continued growth over the midterm. Cohu is successfully enabling testing of new high-growth technologies in RF, battery management and ADAS processors, and gaining traction in automated optical inspection.”
Cohu expects first quarter sales between $212 million and $232 million.
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