Cohu, Inc. reported first quarter fiscal 2025 net sales of $96.8 million on May 1, 2025. The company posted a GAAP loss of $30.8 million, or $0.66 per share, and a non-GAAP loss of $0.8 million, or $0.02 per share.
Net sales for Q1 2025 were down 10.1% year-over-year, primarily due to lower demand in automotive, industrial, and mobile segments. This decline was partially offset by increased demand in AI-based computing applications.
Management guided for second quarter 2025 revenue of $106 million, plus or minus $7 million, representing a projected 10% sequential increase. This marks the first time in approximately 3.5 years that Cohu has guided for a quarter to be up year-over-year.
Cohu initiated a strategic restructuring program in late February 2025, including consolidating manufacturing to Asia factories and reducing headcount in the U.S. and Europe. This program is expected to yield approximately $2 million in quarterly cost savings once fully implemented by early 2026, with benefits starting in Q2 2025.
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