As a result of this transaction, financial results for BMS will be
reported as discontinued operations.
Luis A. Müller, Cohu’s President and Chief Executive Officer, stated:
“StoneCalibre’s acquisition of BMS will provide further opportunities
for the business and its employees.
The company is updating its guidance for the second quarter of 2015 to
exclude BMS as follows: Sales of approximately $73 million and non-GAAP
gross margin and operating expenses of approximately 36% and
$19 million, respectively. Müller concluded, “Our revised Q2 guidance
reflects a 15% sequential increase in sales and excludes approximately
Forward Looking Statements:
Certain matters discussed in this release, including statements
regarding expectations of the purchase price for the sale of BMS (which
is based in part on meeting the earn-out requirements), business and
market conditions, sales, revenues and operating results are
forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those
projected or forecasted. Such risks and uncertainties include, but are
not limited to, risks associated with the ability of BMS to generate
future revenue that is sufficient to meet the earn-out requirements,
acquisitions, inventory, goodwill and other asset write-downs; our
ability to convert new products under development into production on a
timely basis, support product development and meet customer delivery and
acceptance requirements for next generation equipment; our reliance on
third-party contract manufacturers; failure to obtain customer
acceptance resulting in the inability to recognize revenue and accounts
receivable collection problems; customer orders may be canceled or
delayed; the concentration of our revenues from a limited number of
customers; intense competition in the semiconductor test handler
industry; our reliance on patents and intellectual property; compliance
with U.S. export regulations; and the cyclical and unpredictable nature
of capital expenditures by semiconductor manufacturers. These and other
risks and uncertainties are discussed more fully in
About
For press releases and other information of interest to investors,
please visit Cohu’s website at www.cohu.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150610006311/en/
Source:
Cohu, Inc.
Jeffrey D. Jones - Investor Relations
(858) 848-8106