The company saw its stock drop 16% to $27.56 before the opening bell, erasing a portion of its 53% gain over the past year. The sell-off followed a financial report showing an adjusted loss of 15 cents per share, a sharp contrast to the 6-cent profit anticipated by analysts surveyed by FactSet.

Revenue Growth vs. Bottom-Line Pressure

Despite the earnings miss, Cohu reported a significant uptick in top-line performance. Net sales reached $122.2 million, climbing from $94.1 million in the same period last year. This figure largely aligned with Wall Street projections, suggesting that while demand for semiconductor services remains robust, internal costs or margin pressures are weighing on profitability.

Financial Results and Outlook

On a GAAP basis, the company’s net loss widened slightly to $22.5 million, or 48 cents per share, compared to $21.4 million a year earlier. Looking ahead, management provided a cautious revenue forecast for the first quarter of the new fiscal year:

• Projected sales between $115 million and $129 million.
• A midpoint target of $122 million.
• Continued focus on semiconductor industry supply chains.