POWAY, CA – Cohu reported fourth quarter net sales of $142 million, down 16.8% year-over-year and 1% sequentially.
The firm posted a GAAP loss of $16.3 million in the fourth quarter, compared to a loss of $57.1 million in the same period of 2018 and $10.5 million in the third quarter of 2019.
Net sales for 2019 were $583.3 million, an increase of 29.1% year-over-year. Cohu reported a loss of $69 million for the year, compared to a loss of $32.5 million in 2018.
Total cash and investments at year-end 2019 were $156.1 million.
"We accelerated the integration of Xcerra amid a challenging market environment in 2019,” said Cohu president and CEO Luis Müller. “Fourth quarter orders gained momentum, primarily driven by mobility and a late quarter uptick in automotive. We remain optimistic about our business prospects in 2020, focusing on cross-selling opportunities across our broad product line of test and inspection equipment, test contactors, and supporting our customers’ deployment of 5G RF capabilities on next-generation smartphones."
Cohu expects first quarter 2020 sales between $140 million and $152 million.
Cohu is the parent of atg-Luther & Maelzer.