8-K
filed February 15, 2024, 6:59 PM ET
ticker COHU
CIK 0000021535
earnings
confidence high
sentiment negative
materiality 0.75
Cohu Q4 2023 revenue $137M, GAAP loss $0.04/shr; pays off $29.4M Term Loan B; Q1 guide $107M
COHU INC
2023-FY EPS reported
$0.59
revenue$636,322,000
- Paid off remaining $29.4M Term Loan B on Feb 9, 2024, terminating the $350M Credit Agreement.
- Q4 2023 revenue $137.2M (down 28% YoY from $191.1M); GAAP net loss $2.0M ($0.04 loss per share).
- Non-GAAP Q4 net income $11.1M ($0.23 per share) down from $33.5M ($0.70) in Q4 2022.
- Full year 2023 revenue $636.3M (down 22% YoY); GAAP net income $28.2M ($0.59 per share) vs $96.8M in 2022.
- Q1 2024 sales guidance $107M +/- $6M, significantly below Q4; launched AI software and new Philippines factory.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
COHU INC reported full year 2023 results: revenue $636.3 million, net income $28.2 million, EPS $0.59 per share.
- Period
- full year 2023
- Revenue
- $636.3 million
- Net income
- $28.2 million
- EPS
- $0.59 per share
- Result
- reported results
Exact text from the filing
Net sales for full year 2023 were $636.3 million with GAAP income of $28.2 million or $0.59 per share.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
COHU INC reported Q4 FY 2023 results: revenue $137.2 million, net income $2.0 million, EPS $0.04 per share.
- Period
- Q4 FY 2023
- Revenue
- $137.2 million
- Net income
- $2.0 million
- EPS
- $0.04 per share
- Result
- reported results
Exact text from the filing
Cohu, Inc. (NASDAQ: COHU), a global leader in semiconductor equipment and services, today reported fiscal 2023 fourth quarter net sales of $137.2 million and GAAP loss of $2.0 million or $0.04 per share.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
COHU INC reported financial results for fourth quarter and year ended December 30, 2023.
- Period
- fourth quarter and year ended December 30, 2023
- Result
- reported results
Exact text from the filing
On February 15, 2024, the Company issued a press release regarding its financial results for the fourth quarter and year ended December 30, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.98
COHU INC terminated Credit and Guaranty Agreement with Deutsche Bank AG New York Branch valued at $29.4 million (effective 2024-02-09).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Deutsche Bank AG New York Branch
- Value
- $29.4 million
- Effective
- 2024-02-09
Exact text from the filing
As previously disclosed, on October 1, 2018, Cohu, Inc. (collectively, the “Company”) entered into a Credit and Guaranty Agreement, as amended, by and among Cohu, Inc., Certain Subsidiaries of Cohu, Inc. (the “Borrowers”) and the lenders (“Lenders”) and Deutsche Bank AG New York Branch, as administrative agent and collateral agent (“DBNY”), (the “Credit Agreement”) for an aggregate principal amount of up to $350.0 million secured term loan facility (“Term Loan Credit Facility”) subject to certain terms and conditions. The maturity date under the Credit Agreement was October 1, 2025. On February 9, 2024, Cohu entered into a payoff letter for a voluntary prepayment of the Term Loan Credit Facility (the “Payoff Letter”). Pursuant to the Payoff Letter, the Company paid a total of $29.4 million to Duetsche Bank, representing the outstanding principal, interest, fees, breakage costs and other amounts owing to the Lenders and thereby terminated the Credit Agreement.
View on SEC.gov
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