COHU INC

Listed Company

COHUCIK 0000021535NasdaqLarge AcceleratedInstruments For Meas & Testing Of Electricity & Elec SignalsDelawareFY ends Dec 26

Period

FY 2025

Revenue

—

Net Income

$-74.27M

Total Assets

$1.24B

Equity

$785.54M

Shares Out

46.89M

Op. Cash Flow

$31.69M

Business

COHU INC is a global technology leader supplying test, interface, automation, inspection and metrology equipment and related software and services to the semiconductor industry. It offers semiconductor automated test equipment (ATE), handlers, test contactors and probe heads, inspection/metrology systems, DI‑Core data analytics software, spares and kits, and installation, maintenance, training and consulting services. The company operates a single reportable segment, Semiconductor Test & Inspection, covering capital equipment and recurring revenue streams. COHU markets and supports its products worldwide via direct sales, independent representatives and global service centers across the Americas, EMEA and Asia Pacific.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	453	402	636	813	887
Cost of sales	259	221	333	429	500
Research and development	92	85	89	93	92
Selling, general and administrative	124	128	132	131	127
Amortization of purchased intangible assets	38	39	36	33	35
Restructuring charges	10	41,000	2	605,000	2
Costs and Expenses	523	473	593	687	686
Loss from operations	−70	−72	43	126	202
Interest expense	−2	−618,000	−3	−4	−6
Interest income	8	10	12	4	239,000
Foreign transaction loss	−783,000	−2	−5	2	411,000
Pension curtailment gain	2	0	0	—	—
Loss on extinguishment of debt	0	−241,000	−369,000	−312,000	−3
Income (loss) before taxes	−62	−65	46	127	192
Income tax provision	12	5	18	30	25
Net income (loss)	−74	−70	28	97	167
Basic (in dollars per share)	−1.59	−1.49	0.59	2.01	3.53
Diluted (in dollars per share)	−1.59	−1.49	0.59	1.98	3.45
Basic (in shares)	47	47	47	48	47
Diluted (in shares)	47	47	48	49	48

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	227	206	246	242	290
Short-term investments	257	56	90	143	90
Accounts receivable, net	109	92	125	176	193
Inventories	129	142	156	170	161
Prepaid expenses	24	19	18	24	16
Taxes receivable	4	19	—	—	—
Total current assets	750	534	639	765	751
Property, plant and equipment, net	77	75	69	65	64
Goodwill	283	235	242	214	220
Intangible assets, net	79	111	152	140	177
Other assets	24	31	32	21	22
Operating lease right of use assets	29	14	17	23	25
Assets	1,243	999	1,150	1,227	1,259
Short-term borrowings	10	633,000	2	2	3
Current installments of long-term debt	1	1	5	4	11
Accounts payable	41	31	34	52	85
Customer advances	3	3	5	7	7
Accrued compensation and benefits	22	20	32	38	40
Accrued warranty	4	3	5	6	7
Deferred profit	9	4	4	8	13
Income taxes payable	3	2	4	27	7
Other accrued liabilities	16	21	15	17	19
Total current liabilities	109	85	103	161	192
Other accrued liabilities	7	7	8	8	9
Noncurrent income tax liabilities	4	6	7	6	6
Accrued retirement benefits	5	8	11	10	18
Deferred income taxes	15	19	23	21	26
Long-term debt	285	7	34	73	103
Long-term lease liabilities	32	10	13	19	22
Preferred stock, $1 par value; 1,000 shares authorized, none issued	0	0	0	0	0
Common stock, $1 par value; 90,000 shares authorized, 49,875 shares issued and outstanding in 2025 and 49,601 shares in 2024	50	50	49	49	49
Paid-in capital	682	697	686	687	675
Treasury stock, at cost; 3,030 shares in 2025 and 2,891 shares in 2024	−88	−88	−69	−58	—
Retained earnings	174	249	319	290	194
Accumulated other comprehensive loss	−33	−51	−35	−40	−27
Total stockholders equity	786	857	950	929	883
Liabilities and Equity	1,243	999	1,150	1,227	1,259

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net accretion on investments	−1	−1	−1	−859,000	0
Pension curtailment gain	−2	0	0	—	—
Depreciation and amortization	51	52	50	46	49
Share-based compensation expense	23	21	17	15	14
Inventory related charges	8	5	6	7	7
Amortization of debt discounts and issuance costs	422,000	8,000	146,000	315,000	643,000
Changes in accrued retiree medical benefits	−2	−2	−540,000	−2	−500,000
Deferred income taxes	−2	−4	−5	−4	953,000
Impairment charge related to equity investment	0	903,000	0	0	—
Change in fair value of contingent consideration liability	−2	0	0	—	—
Changes in other assets	426,000	−4	−13	−3	−2
Amortization of cloud-based software implementation costs	3	3	3	2	2
(Gain) loss from sale of property, plant and equipment	141,000	176,000	−4,000	−203,000	—
Changes in other accrued liabilities	−175,000	−1	−702,000	−943,000	−416,000
Operating lease right-of-use assets	7	6	8	5	7
Customer advances	−208,000	−2	−2	−184,000	−4
Accounts receivable, net	−14	35	62	12	−59
Inventories	4	6	13	−19	−36
Accrued compensation, warranty and other liabilities	9	−15	−15	−4	225,000
Accounts payable	10	−4	−21	−33	17
Deferred profit	4	26,000	−4	−5	5
Other current assets	15	−16	11	−16	2
Income taxes payable	1	−2	−25	21	3
Current and long-term operating lease liabilities	−7	−6	−7	−5	−7
Net cash provided by operating activities	32	3	101	113	98
Purchases of property, plant and equipment	−21	−11	−16	−15	−12
Net cash received from sale of assets	504,000	107,000	216,000	349,000	157,000
Purchases of short-term investments	−263	−79	−97	−209	−205
Sales and maturities of short-term investments	64	114	153	155	136
Settlement of net investment hedge	−2	−3	0	—	—
Net cash provided by (used in) investing activities	−257	22	−30	−68	40
Proceeds from revolving line of credit, revolving credit facility and convertible notes	296	0	0	—	—
Payment of debt issuance costs	−9	0	0	—	—
Purchase of capped calls related to convertible notes	−31	0	0	—	—
Repayments of long-term debt	−2	−31	−39	−38	−206
Payments on finance lease liabilities	−7,000	−24,000	−52,000	−167,000	−186,000
Acquisition of treasury stock	−9	−27	−24	−51	−7
Net issuance (repurchases) of stock, including awards settled in cash	1	−701,000	−6	−2	−4
Net cash provided by (used in) financing activities	246	−59	−68	−91	7
Effect of exchange rate changes on cash and cash equivalents	−355,000	−5	60,000	−2	−3
Net decrease in cash and cash equivalents	21	−39	3	−48	141
Cash paid for income taxes, net of refunds	−3	25	44	23	23
Cash paid for interest	536,000	803,000	3	3	6
Property, plant and equipment purchases included in accounts payable	307,000	454,000	124,000	152,000	624,000
Inventory capitalized as capital assets	1	2	1	3	2

Filings

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