secwatch.observer — SEC 8-K summary
======================================

Issuer:     COHU INC (COHU)
CIK:        0000021535
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001437749-23-012562
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cohu Q1 sales $179.4M; GAAP EPS $0.33, non-GAAP $0.56; guides Q2 $161-173M
--------------------------------------------------------------------------

- Q1 net sales $179.4M, down 6% sequentially and 9% YoY; GAAP net income $15.7M ($0.33/share), down from $21.6M ($0.45) in Q4.
- Non-GAAP net income $26.9M ($0.56/share), down from $33.5M ($0.70) in Q4 and $32.6M ($0.66) in Q1 2022.
- Gross margin 48.1% (GAAP) / 48.2% (non-GAAP); received large order for SiC device test automation & inspection.
- Term Loan B prepaid $35M, principal reduced to $32M; cash and investments $324.3M at quarter end.
- Q2 FY2023 sales guidance $161-173M, below Q1's $179.4M; repurchased 99,682 shares for $3.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/21535/000143774923012562/0001437749-23-012562-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/21535/000143774923012562/cohu20230503_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-012562

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer