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Cohu Cohu Reports First Quarter 2021 Results April 29 , 2021 • Record first quarter revenue $ 225.5 million , up 11.4 % quarter - over - quarter • Gross margin of 45.3 % ; non - GAAP gross margin of 45.6 % • Record orders driven by robust automotive segment demand and broad market strength • Reduced outstanding Term Loan B debt by approximately $ 102 million during the quarter POWAY , Calif .-- ( BUSINESS WIRE ) -- Apr . 29 , 2021-- Cohu , Inc. ( NASDAQ : COHU ) , a global leader in back - end semiconductor equipment and services , today reported fiscal 2021 first quarter net sales of $ 225.5 million and GAAP income of $ 27.6 million or $ 0.61 per share . Cohu also reported first quarter 2021 non - GAAP income of $ 40.5 million or $ 0.89 per share . ( 1 ) GAAP Results ( 1 ) ( in millions , except per share amounts ) Net sales Income ( loss ) Income ( loss ) per share Non - GAAP Results ( 1 ) ( in millions , except per share amounts ) Income Income per share ( 1 ) All amounts presented are from continuing operations . Q1 FY 2021 Q4 FY 2020 Q1 FY 2020 $ 225.5 $ 202.4 $ 138.9 $ 27.6 $ 14.9 $ ( 17.3 ) $ 0.61 $ 0.34 $ ( 0.42 ) Q1 FY 2021 Q4 FY 2020 Q1 FY 2020 $ 40.5 $ 31.8 $ 0.1 $ 0.89 $ 0.73 $ 0.00 Total cash and investments at the end of first quarter 2021 were $ 291.0 million . As previously announced , in March 2021 , Cohu closed an underwritten public offering totaling 5,692,500 shares of its common stock at $ 41.00 per share , raising net proceeds of approximately $ 223.1 million , after deducting underwriting discounts and commissions and offering expenses . " Cohu had record first quarter orders and revenue with strength continuing across all major markets . Recurring business is benefiting from new semiconductor product designs driving a 14 % contactor revenue growth quarter - over - quarter . The systems business is experiencing robust automotive demand , driven by XEV and ADAS technologies , and continued mobility expansion with 5G proliferation , " said Cohu President and CEO Luis Müller . " We are proud to grow revenue and profitability while maintaining our commitment to reducing direct energy consumption and further improving our corporate ESG programs . " Cohu expects second quarter 2021 sales to be between $ 234 million and $ 250 million , up 7 % quarter - over - quarter at the mid - point of guidance . Conference Call Information : The Company will host a live conference call and webcast with slides to discuss first quarter 2021 results at 5:30 a.m. Pacific Time / 8 : 30 a.m. Eastern Time on April 29 , 2021. Interested investors and analysts are invited to dial into the conference call by using 1-866-434-5330 ( domestic ) or + 1-213-660-0873 ( international ) and entering the pass code 6397776. Webcast access will be available on the Investor Information section of the Company's website at www.cohu.com . About Cohu : Cohu ( NASDAQ : COHU ) is a global leader in back - end semiconductor equipment and services , delivering leading - edge solutions for the manufacturing of semiconductors and printed circuit boards . Additional information can be found at www.cohu.com .