Cohu Inc. — the Poway business that makes machines to test and inspect semiconductors — reported a net loss of $72,000 on net sales of $75.2 million for the second quarter.
In the same quarter one year ago, the business reported net income of $2.2 million on revenue of $74.2 million.
The publicly traded company ended its second quarter on June 27; it reported its financial results July 30.
Cohu (Nasdaq: COHU)’s board approved a dividend of 6 cents per share, payable Oct. 23 to shareholders of record on Aug. 28.
The quarter was marked by Cohu’s sale of Broadcast Microwave Services, which was considered a non-core business. StoneCalibre LLC of Century City agreed to buy the business for up to $8.0 million, subject to business performance in upcoming years. The BMS business develops, manufactures and sells mobile microwave communications equipment to government agencies, law enforcement, public safety organizations and other commercial entities.
Cohu reported a loss of slightly less than $4 million from discontinued operations during the second quarter. One year ago, it reported income of $2 million from discontinued operations.
Not counting discontinued operations, Cohu said it had net income of $3.9 million, or 15 cents per share.
In other news, CEO Luis Müller continues handling the duties of Peter F. Portmann, who died unexpectedly on May 31. Portmann was vice president of global operations for Cohu’s Semiconductor Equipment Group. Cohu has yet to appoint a permanent successor.
Cohu has 1,600 employees inside and outside the United States.
Editor's note: This story has been updated since its original posting.