Cohu, Inc. · NASDAQ:COHU
Cohu — Investor Presentation (July 2019)
14 slides from Cohu's investor presentation, Jul 8, 2019
Slide 1: Cohu Investor Presentation
July 2019 Cohu Investor Presentation
Slide 2: Cautionary Statement Regarding Forward Looking Statements
| Cautionary Statement Regarding Forward Looking Statements [Ween GAAP Ranta Ince tint presrnion wenn GAAP frac means nding nn AAP Gos Magn, Opting Epi Adit earings psa Ade EBTOA poet ie Comp Conese arched Smarts inca prepended wcoutg pres Gan) Tee fen cna far ese ut the Compare spewed a Gia tec che
Slide 3: Global Technology and Market Leader in Semiconductor and PCB Test and Inspection Markets
| Global Technology and Market Leader ..in Semiconductor and PCB Test and Inspection Markets a. Company Q1’19 Revenue Revenue Employees NASDAQ $148M $504M (Worldwide) i)
Slide 4: Value-Add Test & Inspection to Semiconductor Manufacturing
| Value-Add Test & Inspection to Semiconductor Manufacturing 2-Cohu 4-Cohu Each chip formedan the waferis ° Completed packagesare then then tested for it's electrical . rigorously tested and inspected « || properties and basic functionality p {forreliablity and performance through fina test eqipment
Slide 5: ~$5 Billion Market Provides Opportunity for Expansion
| ~$5 Billion* Market Provides Opportunity for Expansion } Semiconductor Test & Inspection PCB Test Test Handlers Inspection Test Interface Semi Test Bare Board Test $0.2B Thermal and Vision Inspection High fidelity measurement instruments ht speed, precision technologies enabling higher yield Compa
Slide 6: Update on Market Conditions
| Update on Market Conditions Delay in previously expected second half 2019 recovery U.S./China trade tensions creating a drag on the global economy Huawei export restrictions impacting our customers’ business, in addition to announced decline in smartphone unit forecast Auto sales have declined in
Slide 7: 5G & Autonomous Applications Fueling Semi Demand
| 5G & Autonomous Applications Fueling Semi Demand + wireless Emerging need for energy effici mous vehicl ‘SOWAR ST RN ey ras NSTONOMOUS VEHICLES tas gq VADOO GBD Seis a. Saitek Rte Ju nae 4.Cohu
Slide 8: Driving Growth in Select End-Markets
Dri ing Growth in Select End-Markets Sensing & Power Communications & Networking 49% Semiconductor Content Growth? in Autos by 2022 92% RF Content Growth? in 5G-enabled Smartphones 142% Growth in Global Data? (Created, Transmitted, Stored) Cohu End-Markets Automo' Mobility Data Center, Goud 15% Cons
Slide 9: Cohu Delivers Higher Yield Faster
| Cohu Delivers Higher Yield Faster One-stop shop with leading edge Time to Yield solutions reduces integration risk and accelerates “time to yield” <— n Incremental Growth Opportunities ~$175M/year higher contactor attachment rates ~$50M/year target system growth SemiTest Test Interface Test Handle
Slide 10: Financial Profile
Financial Profile July 2019 SF —
Slide 11: Recurring Provides a Strong Foundation
| Recurring Provides a Strong Foundation I cur venue is higher margin and less susceptible to seasonal and cyclical trends Revenue Distribution TTM Allocation Test & Inspection Systems Handlers yas 4Cohu
Slide 12: Business Model Delivers Strong Leverage
| Business Model Delivers Strong Leverage Mid-Term Business Model for FY20 Target Quarterly Sales $150M $170M $190M $210M $235M Gross Margin* 43% 44% 45% 46% 48% Operating Expenses* $52M $54M $57M $59M ~$64M Adjusted EBITDA? 12% 15% 17% 20% 22% Adjusted EPS* $0.16 $0.30 $0.45 $0.60 $0.75 Delivering
Slide 13: Balance Sheet
| Balance Sheet } $Million 04/18 Q1'19 Cash and Investments $165 $160 Accounts Receivable $149 $131 Total Debt $359 $357 Capital Additions $2.5 $3.5 Cash Flow From Operations $5.2 $4.7 Capital allocation strategy — cash above $125M to pay down debt: “Pav dount cetacean on caret bss nutemen ans syner
Slide 14: Thank You!
Thank You! SF —