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In Friday trading, shares of Cohu, Inc. (COHU, Financial) lost nearly 17% after the company reported its financial results for the fourth quarter. The company posted an adjusted earnings per share of 28 cents, falling short of estimates by 3 cents.
The company’s revenue of $84.1 million was also higher than the figure reported a year earlier, 19% year-over-year. Moreover, Cohu did not rmeet revenue expectations by $0.1 million.
Luis Müller, President and CEO of Cohu, said: “We delivered another year of solid sales and profitability growth in fiscal 2017, coupled with market share gains in test handlers and accelerating growth in the test contactor market. Orders were at record levels with the full year increasing 41% over 2016. We ended the year with repeat handler orders for an automated factory in Korea and captured two new customers in China for power management device test.”
Looking ahead, the company expects first quarter 2018 sales to be about $89 million. Further, the Board of Directors approved a quarterly cash dividend of six cents per share.
Shares of Cognex Corp. (CGNX, Financial) lost ground today after the company posted its financial results for the fourth quarter.
For the quarter, the company reported annual net sales growth of 39.5% to $180.36 million, while its profit advanced to 25 cents, in line with estimations. Moreover, the company beat analysts’ estimates by $1.6 million in revenue.
Dr.Robert J. Shillman was pleased the company´s performance. He said “Our 2017 achievements reflect the hard work of Cognoids around the world and the entrepreneurial spirit that is an integral part of our corporate culture”.
Looking ahead, for the first quarter the company expects revenue to be between $165 and $175 million and gross margin around 75%.
(Disclosure: The author holds no position in any stocks mentioned).
