Cohu reports Q4 adjusted EPS 23c, consensus 23c

Reports Q4 revenue $137M, consensus $136.83M. “Fourth quarter results were in-line or better than guidance with strong gross margin and profitability. We launched AI inspection software with two customers and opened our new factory in the Philippines which is ramping manufacturing of test contactors, both aligned with our strategy to expand recurring business. Cohu achieved recurring revenue of $310 million over the last twelve months with a 3-year compound growth rate of 5%,” said Cohu President and CEO Luis Muller. “Although demand for systems is likely to remain subdued in the near-term, our customers have been forecasting a recovery for the second half of 2024.”