COHU — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-01

• Cohu was founded in 1947 and is a global supplier of equipment and services optimizing semiconductor manufacturing yield and productivity. We serve global semiconductor manufacturers and test subcontractors with a broad portfolio of products and services.

• For the three months ended March 28, 2026, net sales increased 2.3% sequentially to $125.1 million. Revenue from our capital equipment products is primarily driven by customers’ capital expenditures and operating budgets, which depend on capacity utilization, inventory levels, and anticipated end‑ma…

• Global macroeconomic and geopolitical factors continue to influence the semiconductor industry. While elevated interest rates and ongoing geopolitical uncertainty have moderated capital spending in certain end markets, industry conditions have become increasingly bifurcated. Automotive, industrial, …

• By contrast, demand related to artificial intelligence (“AI”), high‑performance computing, and data center applications has remained comparatively strong and continues to support investment in advanced semiconductor testing and inspection solutions. During the first quarter of fiscal 2026, our net s…

• In response to economic conditions, in fiscal 2025, we initiated a global restructuring program designed to improve profitability while maintaining investment in product development. We continue to manage our cost structure with discipline while preserving flexibility to support anticipated growth o…

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Cohu is a leading supplier of test and inspection metrology systems and data analytics software to optimize semiconductor manufacturing yield and productivity. We offer a wide range of products and services and our revenue from capital equipment products is driven by the capital expenditure and oper…

• Global macroeconomic and geopolitical factors have impacted the semiconductor industry. In response to the higher cost of capital, slowing customer demand, and inventory levels higher than target, many semiconductor companies have been cutting costs, reducing employee headcount, and pushing out capi…

• We continue to focus on building a well-balanced and resilient business model, executing on customer design-wins and in developing innovative products. We are opening the market aperture with new products and opportunities for sale of our equipment, and we are encouraged by increased customer tracti…

• Goodwill, Intangible Assets and Other Long-lived Assets: We evaluate goodwill for impairment annually and when an event occurs or circumstances change that indicate that the carrying value may not be recoverable. We test goodwill for impairment by first comparing the book value of net assets to the …

• We conduct our annual impairment test as of October 1st each year and determined there was no impairment as of October 1, 2024, as we determined that the estimated fair values of our reporting units exceeded their carrying values on that date. Other events and changes in circumstances may also requi…

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Notes to Unaudited Condensed Consolidated Financial Statements

• Notes to Unaudited Condensed Consolidated Financial Statements

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Notes to Unaudited Condensed Consolidated Financial Statements

Text added vs the prior filing · source: 10-Q · 2026-05-01

• The ongoing military conflict involving Iran (the “Iran Conflict”), including actions by the United States and Israel, could adversely affect our business, results operations, financial condition or financial reporting. The continuation, escalation or expansion of the Iran Conflict could lead to ret…

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• The performance of our business as affected by the level of our indebtedness could prevent us from meeting the obligations under the indentures governing the Notes or maintaining sufficient liquidity to operate our business or service our debt obligations, and we cannot provide any guarantee that we…

• Our consolidated indebtedness may have the effect, among other things, of reducing our flexibility to respond to changing business and economic conditions and increasing borrowing costs. Given the significant uncertainty relating to the macroeconomic environment, there are potential scenarios under …

• Our ability to make scheduled payments or to refinance our obligations with respect to indebtedness will depend on our operating and financial performance, which, in turn, is subject to prevailing economic conditions and to financial, business and other factors beyond our control. Our inability to r…

• Depending on the impact of the macroeconomic environment, we may seek other sources of liquidity and other ways of preserving liquidity. No assurance can be made that sources of additional liquidity will be readily available or that we will be successful in obtaining or preserving such liquidity. Fu…

• Provisions in the indentures governing the Notes could delay or discourage a takeover of us.

Text added vs the prior filing · source: 10-Q · 2026-05-01

• The Rule 10b5-1 trading arrangement for Jeffrey D. Jones was subsequently terminated during the second quarter of fiscal 2026.

• Transactions by Section 16 directors and officers will be disclosed publicly through Form 144 and Form 4 filings with the SEC to the extent required by law. No non-Rule 10b5-1 trading arrangements (as defined in Item 408 of Regulation S-K of the Exchange Act) were adopted or terminated by any Sectio…

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Notes to Unaudited Condensed Consolidated Financial Statements