Earnings call transcript Q4 2022

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Operator

Good day, and thank you for standing by. Welcome to Cohu's Fourth Quarter and Full Year 2022 Financial Results Conference Call. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Jeff Jones, Chief Financial Officer.

Jeffrey Jones

Good afternoon, and welcome to our conference call to discuss Cohu's fourth quarter 2022 results and first quarter 2023 outlook. our CEO, by Muller. today joined President Luis and I'm

Cohu call earnings copy may this page available at the If call also that contacting Cohu's with a of accessed in in our slide cohu.com Relations. release, the presentation via after a by may website you need Replays today's our be the of same Investor you call conjunction concludes. section. There's will from access or on be Investor website it Relations

to Now harbor. the safe

During forward-looking and filings we recently current make are slide statements expectations statements section rapid abrupt XX-Q. We that which, forward-looking concerning current to the even statements subject SEC, and changes. of Form but we the as and on Cohu's release the presentation today's These as by will call, is reflecting with well the its Form have assessed, Cohu's XX-K management's future most based including nature, information encourage you filed review earnings the to business.

comments today, no as after XXXX, call. statements these XX, of developments this for February only to update assumes obligation Cohu and Our speak occurring

reconciliations earnings during financial measures. our certain this discuss slide GAAP release most the non-GAAP and call, presentation to refer Finally, comparable Please we for measures. to will

to I'd Now like Cohu's CEO. Luis Muller, President over and to turn the call Luis?

Luis Muller

in million with and quarter EPS Revenue key Good outstanding year-end. questions afternoon, end. strong and flat seasonally was thanks of to was slow I'll let about year-over-year albeit you typical of an points ask at go for the result. joining non-GAAP us. financial the revenue QX straight $XXX.X a metrics, at terms

growing make business great importantly, products. selling recurring More Cohu's and continue progress managing differentiated to costs, we

financial of points fourth record, is from where at margin. through Cohu's non-GAAP margin benefited model than growth target non-GAAP this gross XX% our XXX and basis quarter of XX% gross recurring revenue, of Fourth XX.X% X.X% revenue a level. X-year we QX growth revenue margin represented and it's annual a better Gross rate year-over-year, with quarter approximately Cohu growth achieved steady of compound reflects

In revenue $XXX cycles. stream was revenue the delivering and industry resilient profitable last X a quarters, very recurring through million,

Our business are and annual year-over-year, the benefit differentiation our semiconductor interface application products demonstrating design-driven and X% up device introduction is solutions integrated when of our recurring primarily customers. handlers. that Cohu's test IC value of hardware over testers from kits revenue interface new made and the of our by with grew test

and strategic in advanced plan products with the fourth Under core a technologies established leveraging to this and customers. also cost-efficient advanced agreement deliver the new to both probe card RF to the collaboration, interface companies. solutions, PCB to with integrate strength high-frequency CHPT XG and collaboration with interface capabilities. proliferation Cohu intends while quarter We intends node in MEMS we of management addressing thermal technology, of Taiwan CHPT accelerate probe contribute to

supported systems The with recurring over balance sites. base over of service offer XX,XXX were further our includes at the installed XX revenue of comes customer from acquisition MCT last DI-Core actively just that an approximately data service XX% from our months analytics revenue expanded generated to platform. the a Part of

to software improved a years. and DI-Core customers. of to our brand services and $XX DI-Core suite million between to a first This is deployment a products is us. key deliver started of grow for sale of midterm customer to This We and accomplishment analytics IDM software revenue predictive strategy the productivity in major maintenance million announced of Cohu's data a software. European recently selected and $XX increase value element few under our part that Cohu's a sold subscription is

end markets. softness is test cell ongoing in about down and XX%, X estimate now points Tempering quarter-over-quarter reflecting to computing known utilization these positives we mobility, that consumer

end cycle. of Cohu's with distribution down in we non-GAAP resilient through the and fourth margin. notably remain business gross this industrial been more revenue was stronger that systems quarter automotive total was revenue XX% in markets XX% System have quarter seeing

Semi year-over-year, Annual of flat but in revenue our significant about that diversification particularly out business. a Test to with segment was XXXX. was the Turning weak mobility

analog Semi revenue pivoting and revenue sales build end grew XX% power a in Test design applications the wins customer We've that of a to the approximately sustainable total Display automotive remarkable to Diamondx year driver had revenue XXXX Our grew and platform. percent more markets. path and business, Semi a about in to management XXXX. predominantly serving of from mostly of XX% with Test industrial single-digit in help new forward

test the business, fourth throughout of X test XXXX. subcontractors operation quarter delivered new design customer X sites production handlers, with our for had names. in we customer which silicon the quarter. thermal We fourth X wins test new semiconductor existing On in customer's back-end and handler unserved into systems and projected of this carbide expansion inspection penetrated the We

product to our to be turning handler We're business brings relatively This help announced a our for address recently it year acquisition EPS adds neutral to Cohu's portfolio gross products also within target with our packaging expect test revenue simple the this acquisition. with financial accelerate couple business synergies. accretive to margins and to a MCT in stream realizing roadmap opportunities test. model. will panel integrate growing with of Now and projected that Cohu small impact after line a development our It's advanced integrating within operating unit. technologies critical MCT in

we demonstrated, focus semiconductor now delivering the positioned product is roadmaps business interface aligned and profitability our expansion also deliver inspection test are and We're to Diamondx ensuring quarter-over-quarter. platform, growth secular significant hard and cash is investments continued products well continue the spending. a metrology software. equipment The and growth opportunities. on our main made that towards very to wins on We're model strong market of to DI-Core of weather flows and to driving expand and our progress have suited capital As resilient building business cyclicality well

over quarter for on Jeff? me Jeff details fourth guidance. presentation additional turn and to Let results quarter first this XXXX now

Jeffrey Jones

Thanks, Luis.

that my the the comments other I'll and please reconciliations website. to Before results I non-GAAP and are investor located are non-GAAP earnings QX page GAAP which QX non-GAAP including presentation, about to that follow, walk included the the measures, and financial our disclosures, in of accompanying release Information through refer note figures. the guidance, on Investor

of turning $XXX.X was revenue revenue to range. full than Now strong results. guidance $XXX.X slightly revenue quarter. for the our higher the million year again delivered profitability QX financial Cohu XXXX and midpoint was Total million. in and

the of XX% more During for automotive accounted the sales. one fourth customer than market in quarter,

sales. than For full year XXXX, no more of customer accounted for XX%

a IC Cohu recurring XX.X%, XX driven basis impacted at basis business products XXX for used points. points our tester in from QX margin products. approximately QX higher than set new differentiated about cost margin our guidance gross on for components and record Headwinds by increases Gross by Cohu's in

to as directly at component into mid-XXXX levels increase We persist semiconductor expect reduced with and manufacturers these we challenges sourcing availability improves.

which XX%. year by set increases for midterm year-over-year points. cost point XXX tracking year at a XXX gross The XX.X%, impacted XXXX record for new a is XXXX improvement basis headwinds target basis approximately full gross Full also components our margin Cohu of from IC margin and to

XXXX approximately were QX year for operating Operating tracking of were guidance revenue Full expenses XX.X% $XX.X in line at million. midterm also to expenses and with target. our

by year of and XXX income higher operating And adjusted basis XXXX XXXX XX.X% by for was adjusted was XX.X%, XXXX income Full operating was higher XX.X%. non-GAAP than points. revenue, EBITDA than was XX.X%, points. XXX EBITDA quarter basis Fourth

projected jurisdictions. shift fourth than tax The The of was effective was due approximately and rate XX%, tax year rate annual year pretax rate for and tax non-GAAP lower the higher $X.XX. quarter A XX%. lower full QX non-GAAP to rate guidance jurisdictions effective XXXX full tax for $X.XX. EPS XXXX a was for income from EPS approximately was Non-GAAP to

In toward summary, and QX gross strong expand to financial continue was the EBITDA profitability target. midterm margin adjusted as

program was of and balance capital. million. the sheet. additions at at technology $XX.X line capital $X million Overall, from strong growth to cash our of changes our the served maintains balance sheet in end expand about repurchase markets by QX. million with $XX.X of debt totaling investment flow to other investments to support repayment to in moving $XX QX share $X strategy. and and Cohu's increased and operations million position repurchases million, the quarter-over-quarter share portfolio Cash of reduction, million, debt $XXX Net Now working a opportunities strong

high-margin XXX outlook. guiding revenue is basis forecasted target and QX due We're financial between and and to $XXX XX.X%, QX model our recurring the to million gross down headwinds X-year moving through growth basis I mix. tester IC provides the and QX impact quarter-over-quarter to sales industry cash points. volume annual points be consistent better The to persist, approximately in than projecting $XXX a to QX Now margin million. lower be component X.X%, we're will rate of Cohu's earlier mentioned cycles. compound cost be XX approximately the With flow business business

are approximately for approximately projecting QX Operating projected income be We're million. million essentially flat by of QX expense $X and $X be to expenses offset approximately interest quarter-over-quarter. $XX to interest million,

guidance. for EBITDA tax XX QX forecasted XX% A count guidance the of non-GAAP million share QX year of approximately QX at at adjusted and approximately midpoint diluted midpoint full be We expected be expect The to to the is XX%. approximately rate XXXX shares. is

our prepared And concludes that remarks.

Now to the open call questions. we'll

Operator

[Operator Instructions].

comes line from the of Craig with first question Ellis Our B. Riley.

Craig Ellis

gross margin. wanted I very follow-up the to execution. a strong on Congratulations with on start

XXX that basis quarter. to here further where close gross great XX% there both the be, So the and from point that model? is getting just margin that Can think each we to should view a upside increase about And side systems of so you business? of target the had given should how you're talk your about see how much in recurring on

Jeffrey Jones

is Yes. this Jeff. Thank Craig, you.

for to that year. the gross still So XX% the on we're margin full path

contact as do gross contactors in overall the well as the revenue more data software. and in as well testers have that Philippines in inspection will well with our We additional as growth as in-sourcing margin growth analytics metrology improve or as to

that on still XX% path, within we're achieve we midterm. that expect So and the to

Craig Ellis

with And just level it. of Okay. the visibility. Got up on a backlog question and follow I'll

you past, business quarters is out color in the quarter. of on provided capable some So you've what the often in think

potential the about do look half the and the at the can half about on And I half rise of prospects about see takes? you to in the think you of XQ, second the as So you in you business from today? for what half gives can talk How year. for you back past, talked some think

Jeffrey Jones

Yes.

see With lead elongated times, talk seeing backlog we're a backlog bit little the that quarters. me extended we'd the in seeing Craig. little Let a -- X -- bit here, about here. We're of typically, XX% plus we're consumed

but QX. for and into looking got amount then we're QX it We've does QX shipments, backlog strong a at So of also shift QX.

backlog of into XX% the backlog. -- shipments of QX about XX% we're about So rolling represent

of end the So year strong through the and then the schedules out all really. that way

extended So that's of a result lead times.

Luis Muller

Yes.

me Let here. add

I also through XX tester weeks on Paradigm trough the the And that today, from obvious and to way recently Craig, be think statements likely weeks, half half climb there in that lead also systems of asking first We second about think agree cycle. PC right? be handlers the XX slow the our you're we're times of the I in average the by now is a made to this mobility, bottom and that's QX expecting soft, about pretty year, now, predicted the servers. about tend seeing half which considering is TSMC, for we The to that consumer with second and expect here due will inventory honestly, year. correction we're the are

So truly it's the as seasonally the a which shape down, but difficult stronger depend the is predict be recovery. it but way the quarter typically heading can all be year the to XXXX, opposite to out we're into on QX, that will last of also of like

together, better put the profile could -- we recovery the trough. we And that address to the off depending to off full could XX% we of growing it XX% So the be system also times down all if side, think sort lead -- this year, and can for manage better to pass approximately year-over-year. to after be the shorten on orders

-- moment view figure for So but at the that's out, the year. we'll view best the about that

Craig Ellis

to a that better, understand Got really And guys. bit it. Luis. just helpful, That's little

you somewhat a more As does the in suggest at of the that there half? look of to compute? Or business would backlog be in suggest mix first that backlog, half it would resumption mobility the similar be and does second

Luis Muller

that kind from don't backlog of out Craig. or X really X get we the of quarters No, visibility now,

it's think too based on just tell backlog. So I premature to

Craig Ellis

Yes.

that? do Okay. could And other revenues need ask is that pursue the little you Fair with initiative, one as more opportunity? you to just material partner R&D you from about expect your enough. the that partnership? incremental make question. When just as last And if the or talk Can there probe I card bit you investments a any

Luis Muller

investments at our end. the provide. stage, gaining the And are at from partnership they now provide, the starting in So this to collaboration, that what levels interest No, on at stay to intend going to to that R&D the they the is, mutual some we taking business. discussed out We're are that interface customers we intend what moment.

think in and would opportunities expect the what at the some expect real I to applications would but so in to seeing I that, year, moment, evaluations honestly, lead production going initial be we're this to Less that's material that in more quite XXXX. lab is XXXX. I volume

Craig Ellis

again, gross it. on the guys. And work. great Nice Got Look that. to margin, forward congratulations, seeing

Operator

Brian of Stifel. next Our Chin from with question line the comes

Brian Chin

one lead Maybe, Congratulations A few results. Luis, strong to question here. on questions. off the

test said even utilization March yet is essentially a in you cell Does quarter revenue basis last QX. cycle. something than outlook. points the It moderating some more and sounds flat year-to-year, resilient think the XX% year-over-year, seem XXX your I in like though lot

So this increased revenue part gains offerings I'd of for wondering, of resilience? drivers but share from hear service to are that perspective kind perspective, really it, are your your what that. love the account I'm on main and imagine

Luis Muller

wins utilization comes of the you X% Yes. interface for is here. our up Good of commented down. despite, main on business side. really out threads business It interface year-over-year is that the question, Brian. said, X as being revenue I One

the for frankly, also and we our been a has but in scheme cards of number number cards number contactors, wins XXXX. in a probe saw small the of of design probe grand there of things, still So

driver a increase overall So in net-net, the an business. was key which the increase in the interface business, of recurring

down. of on fraction pivoting essentially the that made a with mobility. Secondly, guess mobility Well, still, semi to tester to of but that flat analog been the was power lot year-over-year, win a test of that customers new our has the a the that's IC coming and tester again, some cell of business which we story business But last revenue revenue side, of about mobility comment backdrop outside year. I test utilization test, in grew outside XX% is I of increasing the business a in and significantly big

with down. and test cell So of the kind of platform, that yielding doing trend results diversification bucking Diamondx been push that that predominantly of sort going we've utilization

Brian Chin

to digits, maybe a that. that And without mid-single of have mid-single is little of then sort mid-single of digits like Great. of That's that working precise bit then of a giving second terms that kind quarter like was it into you not use? first recovery back I just the giving I question is through, kind guide, plus. just something year. sounds that know off the year, the helpful. think, the but minutes a goes a few guidance of maybe asked And some around framework something guidance, low half based digits, in ago your to One down on commentary here, you're quarter on

mechanics seeing in the And you're this the what phones? industrial? these mechanics trying like at? a of that of handsets is of two, terms your the that terms and for looks Are presentation moving looking moderation and key then per of Kind here recovery and in that auto pieces, gauge to function kind of you're all

Luis Muller

Yes.

pretty on as all to exactly a well, it pretty extend I logic. hit can that's think the be you accurate you there but accurately forecast,

it right pretty moderation, in now. There described some well. You particularly is industrial

the don't expect at handset, in recovery And of dramatically can factor I only much point, -- you expect And in right? there's be but some that automotive. that moderation year dramatic. already the do a nothing we in then it you lead within lead going this the different more times mobility, some described, seen actually and times We considering the so backlog have. And in QX We've to I forward. the

in in and QX, kind it's year. yes, half to the a progressively down recovery a of progression of trough in slow the then So looking second at

address parameters I further evolution But we demand this seeing certainly that. we'll time are dramatically, increase much we're work the if do see the of think the capacity to pretty manufacturing the to Now way or increasing described you lead reduce year.

Brian Chin

track And just sort last of that more that but towards in Maybe mid-XXs schedule of there? had you at a contactors, $XXX level. for the into at one quarter, million it into Jeff. some took maybe in improvement And holistically, upside it that's QX, test sort maybe $X of last time I gross put revenue of or a margin just of maybe this this factored -- of of plan XX%? the year, on one XXs, is you XX% the upper then really the an future, on Are you if of margins by Is of be kind sort sort ahead to think, year. time instead annualized but -- the number level gross events favorable XX% might sub kind billion mid

Jeffrey Jones

that conversation, had We've Brian.

hold for X we're margin need off XX%, can I was think obviously -- think X, gross margin. quarters But think going we quarter we XX% a for now. QX gross before string I at before We jump to that XX%. fantastic into together I to here full

we XX about a basis headwind we As of about -- points. I said, had had

quarter was is net had that XX% revenue. strong recurring in of XX.X% So We of that. revenue the total

it very So was strong.

tester good to a addition particularly business in In unit. had the mix, that, we

handlers, mid-XX%. you'd strong the testers business be terms to a say have in of So where mix gross then just all in of XXs. sort are quarter. improved the but them mid-XX% contactors margin, And expect I'd units really really related, high --

Operator

Duley David with Steelhead of comes Our from line Securities. next question the

David Duley

just more. So elaborate little you bit I could was a curious if

of major power semi in little than that accomplish to Could that analog IC analog pivot this able about the wins? how in your these you And you're expect XX% would test towards applications. just talk then win business with markets and be power of you percentage and mentioned Diamondx? a to these in some that the business greater And serving are what bit You going test the forward? pieces

Luis Muller

data test, Dave, more and put IoT talked automotive microcontroller, Driver perspective mobility, but different yes, We DDIC, result example, so have computing. the our And test. right, -- also auto year. we good systems another I mean The all wins for that's And end related actually The question. the only, about bit right? of it To was for last market. for not semi XX% here in [indiscernible] by that of IC market, and XX% was related, again. industrial, about in some Display full or I by end wins just profile year recurring Well, right? mobility in full mobility, for was semi revenue was XX% about that XX% year outside about test there's was a little business, talked power, earlier right?

that more and applications. across in to future? power to at expect computing Where semiconductors, analog related industrial do we automotive, right pushing that certainly, mean, now the I spread and be we're are the areas

increase I right? see mobility semi that's of though, would area business, our if of that expect because a naturally, to mobility shift So we'll recover, into to our the of out test revenue natural of back obviously, focus. starts percentage market Concurrently,

of to really matter the wins a the it's our industrial, So -- in computing finding relative how mobility. timing automotive, of of here recovery what's new

one see our you tell outrun mobility. equal, the fluctuations you necessarily of But more would can't That's all going or today, growth some focus quarter-to-quarter, that. is I expect -- on things area. I being in other of So as outside yes, that to

David Duley

XX% then expectations rounded I your perhaps calendar for company, or kind think XXXX. the on market or it's you XX% And for -- of out down Okay. for

XX%. conference the call, I or might you down let's say, talking, have think been last on X%

So the expectation a you bit. have lowered

However, your being I one business XX% year. talking of larger perhaps is competitors next the think about down

than range, what that competitor performance. think So performance and down perhaps, might be -- doubled overall there? I'm wondering reasons their the the are you key and market, at the you your significantly the obviously the large lower of or you better outperform end XX%,

Luis Muller

is that utilization percentage We software hard XX% managed business, We this XX% it's that are, a they right? of grow do has interface gross do who to we up every exactly have And year if frankly, contracts contactor service in increased our knowing gone margin, quarter. but product our revenue the much as our recurring we have anything, sign have right, without line, resilient, test it has It's we substantial have QX. cell -- combined grown have increased the number about higher compare, a approximately extremely revenue. last in fact of despite and us, It about talk It's okay. the to Well, a business. also scale, with smaller DI-Core. that to of and down customers of

peers of peers people the revenue the there a unique, not relative but we talk right? to a business. say is fluctuation not because can't That's industry, going business in speak they fluctuation some see I call It's of then that all X% right? So recurring, in recurring many incredible have their significant our this difference about I'm Our everyone, recurring, our quarter-over-quarter. quarter-over-quarter. what to many to in we'll right? high-margin consumables, being XX% quite industry, resilient, out of And and that entirely

X despite being down. quarters, has been quarter-over-quarter cell the last that over utilization anything, test up If fluctuation

core true a it. It's benefit, it's true a for a be marketing of value, think, the recurring answers I nature flare your not question So that to used to investor business I that the differentiation and creates think right? just

David Duley

will it That's improving systems? margins will the you XX%. the from for end One from of about pieces systems it being suggested, presentation, above up come we by in recurring Okay. come your first about final you think question gross the throughout XX% business, in XX% Or When margins being your as the is, me part. year recurring? year, of back talked both and the

two? in margins XX% say, second part the And gross or the far getting as foresee systems that year to, then do can you as XXs you upper is, next go, let's --

Jeffrey Jones

business. your recurring growth, the also in will the so business of continue the a combination to by higher margins leverage growth more is that as infrastructure, the our yes, supports grow contact systems the we grow in the last well also better as tester business, insourcing question, of which or of interface Philippines. Dave, and driving the complementing And as driven revenue

with So honest it's all of you. that, to be

Operator

from and Sankar question of with the comes line Cowen Company. Krish next Our

Kinney Chin

is Steven ask Luis, behalf of wanted described. This recurring on as to calling questions couple revenue on I if Krish. could, of follow-up a I business you the

guess, that I in the if right great. relatively -- customers play the despite contracts? gaining the recurring be decline and hence, share lower decline Or slightly? that, of of are keep but to discussed different like tools, take actually Or about as your the your to in utilization that in still very So is think you at would could rates guys advantage market terms you utilization dynamic able that then just there resilient. rates if recurring flattish that explain in way for of -- your revenues some your a allow yet or are you to revenue Is service

Luis Muller

Yes, Steven. Yes.

small of have utilization It percentage fluctuation. a but and all, down, but go X right? test a bit I points will fluctuation, little said, underline And will revenue utilization, little with -- First a bit, cell right? like test cell fluctuate I that up with to recurring about really

down, So cell when it. revenue you see the with go go recurring down utilization test typically, alongside does

it's share And job test of really And our is outstanding an increased anything, service getting direction. in and taking our third-party In advantage retention back the suppliers, a customers think I because of penetration customer our spares, business that this kits. because of the even interface, not contactor opposite it contracts rate of of increasing business. went the and to it's right, some that cases, third-party sort by OEM-supplied displacement providers manager, through of, just case, manager in business

the side So well on contactor of over the been positive, the business a service as business that test has X quarters. last of the in the cell reduction as offset the both side in utilization that

Kinney Chin

you And of base is or today? smaller product rates you other, recurring newer wanted the product annual test that, types cell a expect And to guess more more just for to then part the I Great. contracts? your like a guess, ask revenue earlier base, do which software component of that from? of the see service, monthly relative that for that those is existing Okay. subscription of to it installed term I installed strong type described adoption

Luis Muller

Yes. solution adds to PdM, Maintenance. year. last It's new we're Predictive this product, the on platform It an is analytics insight through that that selling

So renewal we or the the you that an a here quarter annual provides umbrella. It's equipment of cells. your PdM overall as improve fourth analytics can in utilization It the introduced your rate. so of It's efficiency part DI-Core subscription sale. all

So increase of area. in the part revenue it's had have all that we plan that to

from of of We million, about million, our a hundred $XX XXXX. I significant in we like it said off It's -- opportunity few Obviously, to past, year. see last the years growth year-over-year thousand in the sort in software $XX to because $X said -- in on the came addressing over it's about space base a million get revenue stream equipment. aggregate million an $XX revenue here in installed

For ones These These opportunity customers. are demand more for starters, test our handlers. repair the of maintenance, more the repair to a are we're that optimization working time greater over electromechanical systems. our have OEE on that really you and ones can the

the where value real is. that's So

Operator

the line with from Trevor Needham. comes question of next [indiscernible] Our

Unidentified Analyst

This Quinn. is Trevor on for

January presentation margins seems XXXX, reverting check back you macro, to last it just if Day, to new years X but of that at the that from X if thinking wanted of likely it? frame you're the that's plus. to again. X case, way Is frame. this understandable, X model And target the time XX% given Analyst double right investor the be but could the course, of about I that And to So shows to changed the years May the very time is gross

Jeffrey Jones

a Yes, we'll to higher. intercept right, time And not of matter plus, XX% it that we achieved We're then the It's the bar is wait going to we'll for Trevor. or that's targets. reset but some that's beforehand it, possible elapse. we achieve set can likely the so when XX% when

Unidentified Analyst

Okay. Makes sense.

carbide shipping about spoke any opportunities carbide so Did to to And a come silicon quarter? systems silicon the fourth you in customer. about new

Luis Muller

third about We the thing a the in did talked same we quarter same No. about ago. we're talking quarter it opportunity, about and the

Unidentified Analyst

Okay.

or us And give opportunity of that able Okay. to percentage you remind current to a an idea? quantify is us what revenue can or

Luis Muller

can is year going is opportunity much We $XX see -- this that and we're think ramping to it versus that singular trying customer to X over about to next materialize ramp. starting how million spread years, still but be year, of

Unidentified Analyst

Okay.

I And but market XXXX. could quarter, in and that sorry changed at -- estimate an mid-single digits inspection gave missed figure point, be this down test last this so last Has all? you if

Luis Muller

the as million was we $XXX we a the of whole think No. of view be XXXX. or going least market view. market expect same that in that probably the million could Still portion $XXX order on and at to down the a to about We serve,

Operator

That concludes to today's remarks. turn for back question-and-answer session. Jeff I'd closing to like Jones call the

Jeffrey Jones

Okay.

today's sign to for to joining a call. you soon. nice day, everybody off, thank before So and Have just talk we want we'll I

Operator

today's participating. conference concludes This for call. Thank you

disconnect. now may You

Cohu (COHU) 16 Feb 232022 Q4 Earnings call transcript