Business
Cohu Provides Business Update for the Fiscal Quarter Ending March 28, 2020
POWAY, Calif.--(BUSINESS WIRE)-- Cohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today reported that the Company
About this update from Cohu, Inc.
[{"type":"text","content":" POWAY, Calif.--(BUSINESS WIRE)--\nCohu, Inc. (NASDAQ: COHU), a global leader in back-end semiconductor equipment and services, today reported that the Company is withdrawing its fiscal first quarter 2020 financial guidance due to the heightened uncertainly relating to the potential impacts of COVID-19 on the Company’s business operations.\n\n\nOn March 16, 2020, the governments of Malaysia and the Philippines independently issued a “movement control” order and an “enhanced community quarantine” order (collectively “Orders”) to help contain the spread of the COVID-19 virus. Cohu and several of our key suppliers have manufacturing operations in the areas affected by these government Orders. Our internal manufacturing in Malaysia and the Philippines have received government exemptions to maintain partial operations at this time. However, due to the impact across the supply chain, manufacturing output, other evolving global facility disruptions as well as the uncertainty of future government regulations, Cohu is unable to quantify the impact to our fiscal first quarter 2020 financial guidance as previously communicated on February 13, 2020.\n\n\nAs we closely monitor the impact of the COVID-19 virus, Cohu continues to take measures to first safeguard our employees, strive to maintain business continuity, and as always, will comply with local government regulations. The situation is rapidly evolving, and we expect to provide an update on the impact of COVID-19 to our business during our next earnings call.\n\n\nAbout Cohu:\n\n\nCohu (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.\n\n\nForward Looking Statements:\n\n\nThis press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to Cohu’s future financial and operating results, Cohu’s plans, ability to ship products, and strategies and objectives for future operations. Some factors that may affect these forward-looking statements include: public health requirements in response to the outbreak of COVID-19 and impact thereof on our business and operations are evolving and beyond our control, including...