Cohu Goes Direct for All Products in China and Taiwan
October 12 2018 - 6:00AM
Business Wire
Cohu, Inc. (NASDAQ: COHU), a global leader in back-end
semiconductor equipment and services, today announced that it had
delivered a twelve-month notice of termination of Xcerra
Corporation’s distribution agreement with Spirox Corporation. Cohu
will leverage its well-established global sales and service
organization, and expanding test development centers in Shanghai,
China and Hsinchu, Taiwan to directly support customers in the
region. These development centers already provide high-level test
applications capability and will continue to expand in alignment
with our customers’ needs. Spirox has been a valued partner and is
expected to continue to support our customers while we implement a
smooth transition for both companies.
“Our go-to-market strategy will enhance Cohu’s growth
opportunities in these critical regions and is expected to improve
our profitability once the transition is complete. Cohu already has
strong direct presence in China and Taiwan, and with the recent
acquisition of Xcerra, the addition of test development centers
will further enhance that support infrastructure. Our strategic
plan is to continue to add to these capabilities by investing in
the teams that directly support our customers in these regions,”
said Luis Müller, Cohu President and CEO.
About Cohu:
Cohu (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.
Forward Looking Statements:
Certain statements contained in this release may be considered
forward-looking statements within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995, including statements
regarding the Xcerra acquisition; expanding test development
centers; resource investments in China and Taiwan; go-to-market
strategies; growth opportunities; improved profitability; and any
other statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
“may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,”
“likely,” “believe,” “estimate,” “project,” “intend,” and other
similar expressions among others. Statements that are not
historical facts are forward-looking statements. Forward-looking
statements are based on current beliefs and assumptions that are
subject to risks and uncertainties and are not guarantees of future
performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various
factors, including, without limitation: risks associated with
acquisitions; inventory, goodwill and other asset write-downs; our
ability to convert new products into production on a timely basis
and to support product development and meet customer delivery and
acceptance requirements for new products; our reliance on
third-party contract manufacturers and suppliers; failure to obtain
customer acceptance resulting in the inability to recognize revenue
and accounts receivable collection problems; revenue recognition
impacts due to ASC 606; market demand and adoption of our new
products; customer orders may be canceled or delayed; the
concentration of our revenues from a limited number of customers;
intense competition in the semiconductor equipment industry; our
reliance on patents and intellectual property; compliance with U.S.
export regulations; impacts from the Tax Cuts and Jobs Act of 2017;
geopolitical issues; ERP system implementation issues; the
seasonal, volatile and unpredictable nature of capital expenditures
by semiconductor manufacturers; rapid technological change; and
significant risks associated with the Xcerra acquisition including
but not limited to (i) the ability of Cohu and Xcerra to integrate
their businesses successfully and to achieve anticipated synergies,
(ii) the possibility that other anticipated benefits of the
transaction will not be realized, (iii) litigation relating to the
transaction that has been or could be instituted against Cohu,
Xcerra, or their respective directors, (iv) possible disruptions
from the transaction that could harm Cohu’s and/or Xcerra’s
respective businesses, (v) the ability of Cohu or Xcerra to retain,
attract and hire key personnel, (vi) potential adverse reactions or
changes to relationships with customers, employees, suppliers or
other parties resulting from the completion of the acquisition,
(vii) the adverse impact to Cohu’s operating results from interest
expense on the financing debt, rising interest rates, and any
restrictions on operations related to such debt, and (viii)
continued availability of capital and financing and rating agency
actions. These and other risks and uncertainties are discussed more
fully in Cohu's filings with the Securities and Exchange
Commission, including the most recently filed Form 10-K and Form
10-Q, in the Registration Statement on Form S-4 that has been filed
by Cohu with the SEC containing a prospectus with respect to the
Cohu common stock being issued in the transaction and a joint proxy
statement of Cohu and Xcerra in connection with the transaction
that is contained therein, and the other filings made by Cohu with
the SEC from time to time, which are available via the SEC’s
website at www.sec.gov. Except as required by applicable law, Cohu
does not undertake any obligation to revise or update any
forward-looking statement, or to make any other forward-looking
statements, whether as a result of new information, future events
or otherwise.
For press releases and other information of interest to
investors, please visit Cohu’s website at www.cohu.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20181012005016/en/
Investor contact:Cohu, Inc.Richard YerganianVice President,
Investor RelationsTel. 781.467.5063Email
rich.yerganian@cohu.com
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