Cohu Inc. Q1 Profit Decreases, but beats estimates

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

The company's earnings totaled $15.7 million, or $0.33 per share. This compares with $21.6 million, or $0.44 per share, in last year's first quarter.

Excluding items, Cohu Inc. reported adjusted earnings of $26.9 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.3% to $179.4 million from $197.8 million last year.

Cohu Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.7 Mln. vs. $21.6 Mln. last year. -EPS (Q1): $0.33 vs. $0.44 last year. -Analyst Estimates: $0.54 -Revenue (Q1): $179.4 Mln vs. $197.8 Mln last year.

-Guidance: Next quarter revenue guidance: $161-$173 mln