POWAY, Calif.--(BUSINESS WIRE)--Oct. 12, 2018--
Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor
equipment and services, today announced that it had delivered a
twelve-month notice of termination of Xcerra Corporation’s distribution
agreement with Spirox Corporation. Cohu will leverage its
well-established global sales and service organization, and expanding
test development centers in Shanghai, China and Hsinchu, Taiwan to
directly support customers in the region. These development centers
already provide high-level test applications capability and will
continue to expand in alignment with our customers’ needs. Spirox has
been a valued partner and is expected to continue to support our
customers while we implement a smooth transition for both companies.
“Our go-to-market strategy will enhance Cohu’s growth opportunities in
these critical regions and is expected to improve our profitability once
the transition is complete. Cohu already has strong direct presence in
China and Taiwan, and with the recent acquisition of Xcerra, the
addition of test development centers will further enhance that support
infrastructure. Our strategic plan is to continue to add to these
capabilities by investing in the teams that directly support our
customers in these regions,” said Luis Müller, Cohu President and CEO.
About Cohu:
Cohu (Nasdaq: COHU) is a global leader in back-end semiconductor
equipment and services, delivering leading-edge solutions for the
manufacturing of semiconductors and printed circuit boards. Additional
information can be found at www.Cohu.com.
Forward Looking Statements:
Certain statements contained in this release may be considered
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, including statements regarding
the Xcerra acquisition; expanding test development centers; resource
investments in China and Taiwan; go-to-market strategies; growth
opportunities; improved profitability; and any other statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as “may,” “will,” “should,” “would,”
“expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,”
“project,” “intend,” and other similar expressions among others.
Statements that are not historical facts are forward-looking statements.
Forward-looking statements are based on current beliefs and assumptions
that are subject to risks and uncertainties and are not guarantees of
future performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various
factors, including, without limitation: risks associated with
acquisitions; inventory, goodwill and other asset write-downs; our
ability to convert new products into production on a timely basis and to
support product development and meet customer delivery and acceptance
requirements for new products; our reliance on third-party contract
manufacturers and suppliers; failure to obtain customer acceptance
resulting in the inability to recognize revenue and accounts receivable
collection problems; revenue recognition impacts due to ASC 606; market
demand and adoption of our new products; customer orders may be canceled
or delayed; the concentration of our revenues from a limited number of
customers; intense competition in the semiconductor equipment industry;
our reliance on patents and intellectual property; compliance with U.S.
export regulations; impacts from the Tax Cuts and Jobs Act of 2017;
geopolitical issues; ERP system implementation issues; the seasonal,
volatile and unpredictable nature of capital expenditures by
semiconductor manufacturers; rapid technological change; and significant
risks associated with the Xcerra acquisition including but not limited
to (i) the ability of Cohu and Xcerra to integrate their businesses
successfully and to achieve anticipated synergies, (ii) the possibility
that other anticipated benefits of the transaction will not be realized,
(iii) litigation relating to the transaction that has been or could be
instituted against Cohu, Xcerra, or their respective directors, (iv)
possible disruptions from the transaction that could harm Cohu’s and/or
Xcerra’s respective businesses, (v) the ability of Cohu or Xcerra to
retain, attract and hire key personnel, (vi) potential adverse reactions
or changes to relationships with customers, employees, suppliers or
other parties resulting from the completion of the acquisition, (vii)
the adverse impact to Cohu’s operating results from interest expense on
the financing debt, rising interest rates, and any restrictions on
operations related to such debt, and (viii) continued availability of
capital and financing and rating agency actions. These and other risks
and uncertainties are discussed more fully in Cohu's filings with the
Securities and Exchange Commission, including the most recently filed
Form 10-K and Form 10-Q, in the Registration Statement on Form S-4 that
has been filed by Cohu with the SEC containing a prospectus with respect
to the Cohu common stock being issued in the transaction and a joint
proxy statement of Cohu and Xcerra in connection with the transaction
that is contained therein, and the other filings made by Cohu with the
SEC from time to time, which are available via the SEC’s website at www.sec.gov.
Except as required by applicable law, Cohu does not undertake any
obligation to revise or update any forward-looking statement, or to make
any other forward-looking statements, whether as a result of new
information, future events or otherwise.
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: https://www.businesswire.com/news/home/20181012005016/en/
Source: Cohu, Inc.
Investor contact:
Cohu, Inc.
Richard Yerganian
Vice
President, Investor Relations
Tel. 781.467.5063
Email rich.yerganian@cohu.com