Coherent: Fiscal Q1 Earnings Snapshot

SAXONBURG, Pa. (AP) — SAXONBURG, Pa. (AP) — Coherent Corp. (COHR) on Wednesday reported fiscal first-quarter net income of $384.7 million.

On a per-share basis, the Saxonburg, Pennsylvania-based company said it had net income of $1.90. Earnings, adjusted for one-time gains and costs, came to $2.09 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2 per share.

The Laser and optics manufacturer posted revenue of $2.37 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $2.32 billion.

For the current quarter ending in December, Coherent expects its per-share earnings to range from $2.28 to $2.48.

The company said it expects revenue in the range of $2.55 billion to $2.75 billion for the fiscal second quarter.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COHR at https://www.zacks.com/ap/COHR