Coherent, Inc. Reports Third Fiscal Quarter Results

SANTA CLARA, Calif., Aug. 11, 2021

FINANCIAL HIGHLIGHTS

	Three Months Ended												Nine Months Ended
	Jul. 3, 2021				Apr. 3, 2021 ARIVA.DE Börsen-Geflüster Kurse Coherent -   0,00%				Jul. 4, 2020				Jul. 3, 2021				Jul. 4, 2020
GAAP Results
(in millions, except per share data)
Net sales	$	395.8			$	374.0			$	298.3			$	1,095.8			$	912.2
Net income (loss)	$	30.3			$	(158.2)			$	(8.7)			$	(127.8)			$	(421.8)
Diluted EPS	$	1.22			$	(6.49)			$	(0.36)			$	(5.25)			$	(17.52)
Non-GAAP Results
(in millions, except per share data)
Net income	$	44.9			$	35.2			$	12.6			$	106.8			$	48.1
Diluted EPS	$	1.81			$	1.42			$	0.52			$	4.33			$	1.99

THIRD FISCAL QUARTER DETAILS

For the third quarter of fiscal 2021, Coherent announced net sales of $395.8 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $30.3 million, or $1.22 per diluted share.

These results compare to net sales of $298.3 million and net loss of $8.7 million, or $0.36 per diluted share, for the third quarter of fiscal 2020 and net sales of $374.0 million and net loss of $158.2 million, or $6.49 per diluted share, for the second quarter of fiscal 2021. The net loss for the second quarter of fiscal 2021 includes $179.2 million, net of tax, in merger and acquisition costs, primarily due to a merger agreement termination fee paid to Lumentum Holdings Inc.

Non-GAAP net income for the third quarter of fiscal 2021 was $44.9 million, or $1.81 per diluted share. Non-GAAP net income for the third quarter of fiscal 2020 was $12.6 million, or $0.52 per diluted share. Non-GAAP net income for the second quarter of fiscal 2021 was $35.2 million, or $1.42 per diluted share.  Reconciliations of GAAP to non-GAAP financial measures for the three months ended July 3, 2021, April 3, 2021 and July 4, 2020 and nine months ended July 3, 2021 and July 4, 2020 appear in the financial statements portion of this release under the heading "Reconciliation of GAAP to Non-GAAP net income (loss)."

"We're pleased to have delivered another quarter of strong financial results with growth sequentially and year over year. In our fiscal third quarter, we grew bookings, revenue, non-GAAP margins and EPS and our book-to-bill was greater than one," said Andy Mattes, Coherent President and CEO. "In the MicroElectronics end market, we saw broad strength across all sub-markets, Precision Manufacturing orders were also strong, primarily with applications for medical device manufacturing and life science demand continues to keep Instrumentation orders at near record highs. Our ongoing good to great transformation project improved our non-GAAP gross margins to greater than 40 percent. We have a strong balance sheet and continue to focus on operational excellence to drive improved margins and further strengthen our overall financial results."

As an update on the expected closing of our transaction with II-VI Incorporated, we are targeting a closing of the acquisition in the first calendar quarter of 2022.

Summarized statement of operations information is as follows (unaudited, in thousands, except per share data):

	Three Months Ended												Nine Months Ended
	Jul. 3, 2021				Apr. 3, 2021				Jul. 4, 2020				Jul. 3, 2021				Jul. 4, 2020
Net sales	$	395,759			$	373,982			$	298,330			$	1,095,794			$	912,248
Cost of sales(A)(B)(C)(D)(E)(F)	239,776				232,957				203,053 Werbung Mehr Nachrichten zur Coherent Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 20.05.24 - PR Newswire Weiss Korea Opportunity Fund - Holding(s) in Company 20.05.24 - PR Newswire Norges Bank - Form 8.3 - Anglo American plc 20.05.24 - PR Newswire Keller Group Plc - Director/PDMR Shareholding Breaking News    22 Jahre “BlueChip”-Power nun bei NurExone! weiterlesen» Anzeige wo-site-teaser-box-17014_site-teaser-box_2024-05-20_09%253A00%253A00_2024-05-21_09%253A00%253A59