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Last $63.51 USD
Change Today -1.26 / -1.95%
Volume 78.1K
COHR On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

coherent inc (COHR) Key Developments

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.

Coherent Inc. to Report Q2, 2015 Results on Apr 29, 2015

Coherent Inc. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Apr 29, 2015

Coherent Inc., Q2 2015 Earnings Call, Apr 29, 2015

Coherent Inc., Q2 2015 Earnings Call, Apr 29, 2015

Coherent Seeks Acquisitions

Coherent Inc. (NasdaqGS:COHR) is looking for acquisition opportunities. "So in terms of priorities, we have been acquisitive over our history. We continue to look at opportunities to acquire strategic revenues. We're not interested in just buying revenue for revenue's sake. We want to acquire things that make sense, in terms of what we're trying to achieve in the marketplace. And at the present time, we're working on a number of different opportunities," said John Ambroseo, President and Chief Executive Officer of Coherent.

Coherent Inc. Presents at Stifel, Nicolaus Technology, Internet & Media Conference, Feb-09-2015 08:00 AM

Coherent Inc. Presents at Stifel, Nicolaus Technology, Internet & Media Conference, Feb-09-2015 08:00 AM. Venue: The Westin St. Francis, San Francisco, California, United States. Speakers: John R. Ambroseo, Chief Executive Officer, President and Director.

 

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COHR

Industry Average

Valuation COHR Industry Range
Price/Earnings 23.5x
Price/Sales 1.9x
Price/Book 2.0x
Price/Cash Flow 21.4x
TEV/Sales 1.5x
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