Cohu Inc (COHU) has reported a 7.18 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $2.09 million, or $0.08 a share in the quarter, compared with $1.95 million, or $0.07 a share for the same period last year. On an adjusted basis, earnings per share were at $0.24 for the quarter compared with $0.09 in the same period last year.
Revenue during the quarter grew 11.36 percent to $70.69 million from $63.48 million in the previous year period. Gross margin for the quarter expanded 398 basis points over the previous year period to 36.11 percent. Total expenses were 95.68 percent of quarterly revenues, down from 96.50 percent for the same period last year. This has led to an improvement of 81 basis points in operating margin to 4.32 percent.
Operating income for the quarter was $3.05 million, compared with $2.22 million in the previous year period.
However, the adjusted operating income for the quarter stood at $8.42 million compared to $2.90 million in the prior year period. At the same time, adjusted operating margin improved 734 basis points in the quarter to 11.91 percent from 4.57 percent in the last year period.
Luis Müller, president and chief executive officer of Cohu stated, “We delivered growth in fiscal 2016 with sales up 4.6% year-on-year, a non-GAAP income increase of 20% and approximately 2-points market share gain in test handlers. We also grew our contactor business and executed the acquisition of Kita, creating sales synergy opportunities at Cohu’s large installed base of handlers at automotive and mobile customers.”
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