Thu, Apr. 30, 4:00 PM
- Though industrial laser maker Coherent (COHR -5.7%) beat FQ2 estimates, it guided on its CC (transcript) for FQ3 revenue of $190M-$210M, mostly below a $209.6M consensus. The company also guided for FY15 (ends Sep. '15) revenue of $820M-$830M, below an $840.9M consensus.
- Peers IPG Photonics (IPGP -4.1%), Newport (NEWP -5.2%), and Rofin-Sinar (RSTI -2.8%) have joined Coherent in underperforming amid a 1.8% drop for the Nasdaq. Laser component makers II-VI (IIVI -6.2%) and GSI Group (GSIG -4.8%) have also sold off.
- Coherent partly blamed its guidance on a strong dollar. However, the company also noted "capex investments have been muted despite continued growth in bit and device output due, in part to yield and process enhancements" - capex budget cuts from chip giants Intel and TSMC were highlighted - and that a $10M deal for a consumer electronics packaging laser project fell through when the customer "decided to stick with their current process and reuse existing equipment."
- FQ2 book-to-bill was still a solid 1.08, and Coheren't backlog of orders expected to ship within 12 months was up 4% Y/Y to $315.3M. Materials processing and instrumentation/OEM component orders were strong, while microelectronics (chip) industry orders were soft.
- IPG is down 6% since posting mixed Q1 results and solid Q2 guidance on Tuesday morning. II-VII is down 5% since providing an FQ3 beat at the same time.
Feb. 7, 2014, 5:38 PM
Jan. 25, 2013, 4:23 PMCoherent (COHR +10.6%) continued its recent rally in the wake of its FQ1 report. Though results were mixed, the industrial/electronics laser vendor guided in prepared remarks (.pdf) for FQ2 revenue of $193M-$203M, above a $192.7M consensus. Also, FQ1 gross margin rose 100 bps Q/Q to 42.6%, and book-to-bill was 0.96, a healthy figure in light of macro (Europe) and industry-specific (science, electronics/chips) challenges. Peers rose in sympathy: IPGP +2.2%. NEWP +1.5%. RSTI +2.1%. | Comment!
Feb. 2, 2012, 9:14 AMMore on Rofin-Sinar's FQ1: The company blames its shortfall on Europe's macro issues and China's inflation-fighting efforts, and says demand was especially soft for lasers used in machine tooling and electronics manufacturing. Book-to-bill was a mere 0.93. It expects FQ2 revenue of $130M-$135M and EPS of $0.27-$0.30, below a consensus of $142M and $0.37. RSTI -8.1%. (PR) | Comment!
Feb. 2, 2012, 8:19 AM
Nov. 4, 2011, 1:52 PMLaser designer Rofin-Sinar Technologies (RSTI -10%) FQ4 easily beat estimates, but the stock takes a hit after the company issues a cautious view for the current quarter. It now projects revenues to be in the range of $137M - $142M, sharply lower than analysts expectations. The company cites a sales slowdown in the Asian markets, particularly tightening in credit in China, for the reduced guidance.
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Rofin-Sinar Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser-based products, which are used for cutting, welding and marking various materials.
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