Cohu Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Cohu Inc. (COHU) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $21.6 million, or $0.44 per share. This compares with $27.6 million, or $0.61 per share, in last year's first quarter.

Excluding items, Cohu Inc. reported adjusted earnings of $32.6 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.3% to $197.8 million from $225.5 million last year.

Cohu Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $21.6 Mln. vs. $27.6 Mln. last year. -EPS (Q1): $0.44 vs. $0.61 last year. -Analyst Estimates: $0.56 -Revenue (Q1): $197.8 Mln vs. $225.5 Mln last year.

-Guidance: Next quarter revenue guidance: $205-$221 mln