Cohu, Inc. (NASDAQ:COHU) Q4 2022 Earnings Conference Call February 16, 2023 4:30 PM ET

Company Participants

Jeffrey Jones - SVP, Finance & CFO

Luis Muller - President, CEO & Director

Conference Call Participants

Craig Ellis - B. Riley Securities

Brian Chin - Stifel, Nicolaus & Company

David Duley - Steelhead Securities

Kinney Chin - Cowen and Company

Operator

Good day, and thank you for standing by. Welcome to Cohu's Fourth Quarter and Full Year 2022 Financial Results Conference Call. [Operator Instructions].

I would now like to hand the conference over to your speaker today, Jeff Jones, Chief Financial Officer.

Jeffrey Jones

Good afternoon, and welcome to our conference call to discuss Cohu's fourth quarter 2022 results and first quarter 2023 outlook. I'm joined today by our President and CEO, Luis Muller. If you need a copy of our earnings release, you may access it from our website at cohu.com or by contacting Cohu Investor Relations. There's also a slide presentation in conjunction with today's call that may be accessed on Cohu's website in the Investor Relations section. Replays of this call will be available via the same page after the call concludes.

Now to the safe harbor. During today's call, we will make forward-looking statements reflecting management's current expectations concerning Cohu's future business. These statements are based on current information that we have assessed, but which, by its nature, is subject to rapid and even abrupt changes. We encourage you to review the forward-looking statements section of the slide presentation and the earnings release as well as Cohu's filings with the SEC, including the most recently filed Form 10-K and Form 10-Q. Our comments speak only as of today, February 16, 2023, and Cohu assumes no obligation to update these statements for developments occurring after this call.

Finally, during this call, we will discuss certain non-GAAP financial measures. Please refer to our earnings release and slide presentation for reconciliations to the most comparable GAAP measures.

Now I'd like to turn the call over to Luis Muller, Cohu's President and CEO. Luis?

Luis Muller

Good afternoon, and thanks for joining us. I'll go straight to the key points and let you ask questions at the end. Q4 was an outstanding quarter in terms of financial metrics, albeit typical seasonally slow revenue at year-end. Revenue of $191.1 million was about flat year-over-year with a strong non-GAAP EPS result. More importantly, we continue to make great progress managing costs, growing Cohu's recurring business and selling differentiated products.