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Last $56.07 USD
Change Today +0.53 / 0.95%
Volume 138.2K
COHR On Other Exchanges
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NASDAQ GS
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As of 8:10 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

coherent inc (COHR) Key Developments

Coherent Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended July 4, 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year 2015

Coherent Inc. reported unaudited earnings results for the third quarter and nine months ended July 4, 2015. For the quarter, the company’s net sales were $188.502 million against $196.517 million a year ago. Income from operations was $18.694 million against $17.148 million a year ago. Income before income taxes was $18.086 million against $16.925 million a year ago. Net income was $13.264 million or $0.53 per diluted share against $12.999 million or $0.52 per diluted share a year ago. Non-GAAP net income was $20.552 million against $18.228 million a year ago. Non-GAAP net income per diluted share was $0.82 against $0.73 a year ago. Net sales for the third quarter declined $8 million or 4.1% compared to the same quarter a year ago, which is the result of the unfavorable impact of exchange rate fluctuations. Compared to the previous quarter, net sales decreased $15.2 million or 7.5%, which is partially due to the Linebeam 1500 ELA system shift to the fourth quarter and a slowdown in semiconductor investments. In addition, the company’s medical ophthalmic revenues declined following a very strong second quarter. Cash flow from operations for the third quarter was $11.6 million negative, mainly as a result of increased accounts receivable. Capital spending for the quarter was $4 million or 2.1% of sales. For the nine months, the company’s net sales were $592.838 million against $589.295 million a year ago. Income from operations was $65.135 million against $52.972 million a year ago. Income before income taxes was $65.832 million against $53.569 million a year ago. Net income was $49.107 million or $1.96 per diluted share against $40.009 million or $1.60 per diluted share a year ago. Non-GAAP net income was $65.863 million against $55.699 million a year ago. Non-GAAP net income per diluted share was $2.63 against $2.23 a year ago. Year-to-date cash flow from operations remains strong at approximately $69 million and increased 6% versus the comparable period last year. The year-to-date capital spending was $16.2 million or 2.7% of sales. The company provided earnings guidance for the fourth quarter of 2015. For the quarter, the company’s current outlook for the fourth quarter revenue ranges from $205 million to $215 million and is inclusive of the third Linebeam 1500 ELA system, which was shifted from the third to the fourth quarter, and approximately $2 million to $3 million revenue from the recent acquisitions. The company projects its fourth quarter pro-forma gross profit percentage to be in the range of 42.5% to 43% of sales inclusive of the recently acquired businesses. Both of these businesses are expected to be dilutive to its pro-forma gross profit percentage until the end of fiscal 2016. For the year 2015, the company expects its pro-forma tax rate to be approximately 27% for the fiscal year, and the company expects its full 2015 capital spending to be approximately 3% to 3.5% of sales. Monaco was introduced at Lasers Munich, and its initial shipments will occur this fiscal year. The company expects volume orders to occur in fiscal 2016.

Coherent Inc. to Report Q3, 2015 Results on Jul 30, 2015

Coherent Inc. announced that they will report Q3, 2015 results at 1:30 PM, Pacific Standard Time on Jul 30, 2015

Coherent Inc., Q3 2015 Earnings Call, Jul 30, 2015

Coherent Inc., Q3 2015 Earnings Call, Jul 30, 2015

Coherent Inc. Presents at Needham 4th Annual Advanced Industrial Technologies Conference, Aug-06-2015 12:15 PM

Coherent Inc. Presents at Needham 4th Annual Advanced Industrial Technologies Conference, Aug-06-2015 12:15 PM. Venue: Needham Headquarters, 445 Park Avenue, 445 Park Avenue, New York, New York, United States.

Coherent, Inc. Announces Unaudited Financial Results for the Second Quarter and Six Months Ended April 4, 2015; Provides Earnings Guidance for the Third Quarter and Fiscal Year 2015

Coherent Inc. announced unaudited financial results for the second quarter and six months ended April 4, 2015. For the second fiscal quarter ended April 4, 2015, the company announced net sales of $203.7 million and net income, on GAAP basis, of $18.4 million, or $0.74 per diluted share. These results compare to net sales of $199.2 million and net income of $15.3 million, or $0.61 per diluted share, for the second quarter of fiscal 2014. Non-GAAP net income for the second quarter of fiscal 2015 was $23.4 million, or $0.94 per diluted share. Non-GAAP net income for the second quarter of fiscal 2014 was $20.4 million, or $0.82 per diluted share. Income from operations was $22,132,000 compared to $20,040,000 a year ago. Income before income taxes was $24,122,000 compared to $21,080,000 a year ago. Cash flow from operations for the second quarter was very strong at $49 million, reflecting a sequential improvement in accounts receivable DSO from 59 to 55 days, an increase in inventory turns from 2.9 to 3.1, coupled with higher liabilities for inventory purchases that occurred late in the quarter and the buildup of the first half variable compensation charge, which will be paid during the third quarter. Capital spending for the quarter was $7.1 million or 3.5% of sales. For the six months, the company announced net sales of $404.3 million and net income, on GAAP basis, of $35.8 million, or $1.43 per diluted share. These results compare to net sales of $392.8 million and net income of $27 million, or $1.08 per diluted share, for the same period of fiscal 2014. Non-GAAP net income was $45.3 million, or $1.81 per diluted share. Non-GAAP net income for the same period of fiscal 2014 was $37.5 million, or $1.50 per diluted share. Income from operations was $46,441,000 compared to $35,824,000 a year ago. Income before income taxes was $47,746,000 compared to $36,644,000 a year ago. Capital spending for the year-to-date was $12.2 million or 3% of sales. Current outlook for the third quarter revenue ranges from $190 million to $210 million and is inclusive of third Triple Vyper LineBeam 1500 ELA system, which it pulled in from the fourth quarter based on customer requests. The company projects the third quarter pro forma gross profit percentage to be in the range of 41.5% to 42.5% of sales. And as a reminder, this excludes intangible amortization stock compensation cost. The company is adjusting the full fiscal 2015 revenue to be in the range of $820 million to $830 million, reflecting foreign exchange headwinds and a customer preference change in one of previously forecasted bookings for the consumer electronics application. The company projects pro forma tax rate to be approximately 26% for the fiscal year, and continues to forecast full fiscal 2015 capital spending to be approximately 3.5% of sales.

 

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Price/Earnings 20.4x
Price/Sales 1.7x
Price/Book 1.7x
Price/Cash Flow 19.4x
TEV/Sales 1.3x
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