Cohu Announces Sale of Poway Land.Business Editors POWAY, Calif.--(BUSINESS WIRE)--April 25, 2003 Cohu, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :COHU) today announced it had sold its land in Poway, California Poway is a city in San Diego County, California, United States. As of the latest 2000 census the city had a population of 48,044 (see Demographics section below). The ZIP code is 92064. that had been held for future development. The cash sales sales made for ready, money, in distinction from those on which credit is given; stocks sold, to be delivered on the day of transaction. See also: Cash price was approximately $9 million, resulting in a pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern financial statement gain of approximately $7.9 million that will be recognized in the second quarter ending June 30, 2003. James A. Donahue, President and Chief Executive Officer, commented, "We purchased the Poway land in 1996 in anticipation of building on the property as our business needs required. Instead of building on this property, in 2000 we purchased our 338,000 square foot facility in Poway that houses our Cohu corporate offices and Delta Design and BMS BMS abbr. Bachelor of Marine Science subsidiaries. This facility provides us with ample capacity for the foreseeable future and as a result we had no development plans for the additional Poway land." Cohu is a leading supplier of test handling solutions used by the global semiconductor industry as well as a supplier of closed circuit television, metal detection and microwave communications equipment. For press releases and other information of interest to investors, please visit Cohu's website at www.cohu.com. |
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