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Note 16 - Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 28, 2019
Notes to Financial Statements  
Quarterly Financial Information [Text Block]
16.
Quarterly Financial Data (Unaudited)
 
Quarter
    
First (a)
    
Second (a)
    
Third (a)
    
Fourth (a)
    
Year
  
(in thousands, except per share data)
    
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
                                             
Net sales:
2019
 
   $
147,809
     $
150,011
     $
143,498
     $
142,011
     $
583,329
  
 
2018
 
   $
95,150
     $
99,817
     $
86,164
     $
170,637
     $
451,768
  
                                             
Cost of sales:
2019
(b)
   $
93,394
     $
87,605
     $
84,565
     $
87,936
     $
353,500
  
 
2018
(b)
   $
54,923
     $
57,677
     $
51,142
     $
128,718
     $
292,460
  
                                             
Income (loss) from continuing operations
2019
 
   $
(22,851
 )   $
(19,383
 )   $
(10,480
 )   $
(16,281
 )   $
(68,995
 )
 
2018
 
   $
8,122
     $
11,648
     $
4,803
     $
(57,116
 )   $
(32,543
 )
                                             
Net income (loss)
2019
 
   $
(22,687
 )   $
(19,359
 )   $
(10,326
 )   $
(17,320
 )   $
(69,692
 )
 
2018
 
   $
8,122
     $
11,648
     $
4,803
     $
(56,997
 )   $
(32,424
 )
                                             
Net income (loss) attributable to Cohu
2019
 
   $
(22,643
 )   $
(19,323
 )   $
(10,468
 )   $
(17,266
 )   $
(69,700
 )
 
2018
 
   $
8,122
     $
11,648
     $
4,803
     $
(56,754
 )   $
(32,181
 )
                                             
Income (loss) per share attributable to Cohu (c):
      
 
      
 
      
 
      
 
  
Basic:
                                            
Income (loss) from continuing operations
2019
 
   $
(0.56
 )   $
(0.47
 )   $
(0.25
 )   $
(0.39
 )   $
(1.68
 )
 
2018
 
   $
0.28
     $
0.40
     $
0.17
     $
(1.40
 )   $
(1.02
 )
                                             
Net income (loss)
2019
 
   $
(0.55
 )   $
(0.47
 )   $
(0.25
 )   $
(0.42
 )   $
(1.69
 )
 
2018
 
   $
0.28
     $
0.40
     $
0.17
     $
(1.40
 )   $
(1.01
 )
                                             
Diluted:
                                            
Income (loss) from continuing operations
2019
 
   $
(0.56
 )   $
(0.47
 )   $
(0.25
 )   $
(0.39
 )   $
(1.68
 )
 
2018
 
   $
0.28
     $
0.39
     $
0.16
     $
(1.40
 )   $
(1.02
 )
                                             
Net income (loss)
2019
 
   $
(0.55
 )   $
(0.47
 )   $
(0.25
 )   $
(0.42
 )   $
(1.69
 )
 
2018
 
   $
0.28
     $
0.39
     $
0.16
     $
(1.40
 )   $
(1.01
 )
 
 
(a)
All quarters presented above were comprised of
13
weeks. We acquired Xcerra on
October 1, 2018.
The results of Xcerra have been included in our results of operations from the date of acquisition. See Note
2,
“Business Acquisitions” for additional information regarding this transaction. Total operating expenses in
2019
and
2018
include acquisition costs and amounts related to the integration and our announced restructuring plan as follows. The
fourth
quarter of
2018
includes
$19.1
million of inventory write-offs,
$14.8
million of amortization of inventory step-up, and
$18.7
million of restructuring charges. The
first
quarter of
2019
includes
$6.0
million of amortization of inventory step-up. The
second
quarter of
2019
includes
$8.5
million of restructuring charges.
 
(b)
Cost of sales is shown exclusive of the amortization of purchased intangible assets.
 
(c)
The sum of the
four
quarters
may
not
agree to the year total due to rounding or losses within a quarter and the inclusion or exclusion of common stock equivalents.