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This statistic highlights Cohu’s Backlog by Segment, split across PCB test, Semiconductor test and inspection segments, reported annually since 2017.
|Backlog by Category||2018||2019||2020||Backlog share in 2020|
|Semiconductor test and inspection||$139.8||$149.9||$237.1||91.4%|
(All figures are in millions, except percentages)
Cohu’s total backlog increased from $150.4 million in 2018 to $259.5 million in 2020, marking a rise of 72.5% between the two years of 2018 and 2020. It also increased by 61.7%, from $150.4 million in 2018 to $160.4 million in 2019. Further, the revenue witnessed an incline of 61.7%, from $160.4 million in 2019 to $259.5 million in 2020.
According to the company, its backlog is usually projected to ship within the next twelve months. The company’s backlog at whichever point in time may not be descriptive of actual sales in any upcoming period due to the chance of customer variations in delivery schedules, revocation of orders, possible delays in product shipments, and complications in obtaining parts from suppliers or fiasco to satisfy customer acceptance requirements, resulting in the failure to identify revenue under accounting requirements. Additionally, several orders are subject to deletion or rescheduling by the buyer with limited or no penalty. A decrease in backlog during any period could have a substantial adverse effect on the business, financial condition, and results of processes.
Further, the statistical analysis of different backlog categories is explained as follows:
Printed circuit boards are tested prior to assembly using the bare body PCB test systems. The PCB test system comprises of flying probe testers, which are used to test low-volume, highly complex circuit boards and do not need the use of a separate test fixture, as well as common grid testers, which entail the use of a separate test fixture and are compatible for circuit boards in large volume manufacturing.
Cohu’s backlog from the PCB test has increased from $10.6 million in 2018 to $22.4 million in 2020, marking an increase of 111.3% in 2 years. The revenue witnessed a slight decrease from $10.6 million in 2018 to $10.5 million in 2019, making a decline of 0.94%. It further increased by 113.3%, from $10.5 million in 2019 to $22.4 million in 2020. This product category constituted 8.6% of the company’s total backlog in 2020.
Semiconductor test and inspection
Semiconductor Automated Test Equipment (ATE) is used equally for wafer level and device package testing. Its semiconductor ATE solutions comprise mainly of two platforms fixated on the system on a chip (“SoC”) device market. The Diamond series platform, which includes the flagship Diamondx test system, provides high-density instrumentation for low-cost testing of microcontrollers, application-specific standard products (“ASSP”), power administration, demonstration drivers, sensors, and other mixed-signal devices. The PAx series of testers is engrossed mainly in the RF Front End IC and Module market.
The majority of Cohu’s backlog is generated through Semiconductor tests and inspection, accounting for 69.5% of the company’s total backlog, amounting to $237.1 million in 2020. Between 2018 and 2020, the revenue grew by 69.6%, from $139.8 million to $237.1 million. It increased by 7.2%, from $139.8 million in 2018 to $149.9 million in 2019. It further grew by 58.1%, from $149.9 million in 2019 to $237.1 million in 2020.
Cohu is a foremost supplier of semiconductor test and inspection handlers, micro-electromechanical system (“MEMS”) test modules, thermal sub-systems, test contactors, and semiconductor automated test equipment used by global semiconductor and electronics makers and semiconductor test agents. The company supplies a wide variety of products and services, and revenue from its capital equipment goods is driven by the capital expenditure budgets and expenditure patterns of its customers, who often deferral or accelerate purchases in reaction to discrepancies in their business. The volume of capital expenditures by these companies depends on the existing and expected market demand for semiconductor devices and the products that include them. Cohu’s periodic revenues are determined by an increase in the number of semiconductor devices that are seasoned and by the incessant introduction of new products and technologies by its customers. Cohu Inc’s stock goes by the name ‘COHU’ and is listed on the NASDAQ stock exchange.
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