Rofin-Sinar Technologies, Inc.(RSTI)- NASDAQ
  • Thu, Mar. 17, 12:49 PM
    | Thu, Mar. 17, 12:49 PM | 16 Comments
  • Thu, Mar. 17, 9:15 AM
    | Thu, Mar. 17, 9:15 AM
  • Wed, Mar. 16, 4:54 PM
    • Coherent (NASDAQ:COHR) is acquiring industrial laser peer Rofin-Sinar (NASDAQ:RSTI) for $942M, or $32.50/share, in cash. The price represents a 42% premium to Rofin's Wednesday close.
    • The deal is expected to close in 6-9 months, provided shareholders and regulators approve. For reference, Coherent closed today with a $2.06B market cap.
    • Coherent plans to finance the purchase via existing cash and committed debt financing from Barclays. CEO John Ambroseo: "The combination of Coherent and ROFIN represents a unique opportunity to strengthen Coherent's position in materials processing. The addition of ROFIN's complementary portfolio will build on Coherent's capabilities as a world leader in laser and photonics-based technology and solutions and create meaningful value for our stockholders." Rofin CEO Thomas Merk declares the two companies to be "highly complementary both technologically and geographically."
    • The deal is expected to be accretive to EPS in its first full year after closing, and produce $30M/year in synergies within 18-24 months of closing. It could stoke M&A hopes for peers IPG Photonics (NASDAQ:IPGP), Newport (NASDAQ:NEWP), and GSI Group (NASDAQ:GSIG).
    • COHR and RSTI appear to be halted. CC at 5PM ET (webcast).
    • Update (5:43PM ET): After coming off a halt, Rofin-Sinar is up 44% after hours to $33.00. The price suggests some investors are betting on a higher bid.
    | Wed, Mar. 16, 4:54 PM | 3 Comments
  • Tue, Feb. 2, 1:17 PM
    • Longbow Research's Joe Wittine has downgraded Rofin-Sinar (RSTI -3.6%) to Neutral. He cites a distracting proxy fight  activist SilverArrow Capital has nominated three board candidates for election at Rofin's 2016 annual meeting - as well as macro uncertainty and a "competitive race" to be second in the high-power fiber laser market behind IPG Photonics (IPGP -0.8%).
    • Rofin is selling of four days after rallying (along with IPG and others) after industrial laser peer reported major OLED-related laser bookings; the Nasdaq is down 1.8%. The company's FQ1 results arrive on Thursday; IPG reports on Feb. 12.
    | Tue, Feb. 2, 1:17 PM
  • Fri, Jan. 29, 12:39 PM
    • Coherent (COHR +20.5%) missed FQ1 sales estimates (while beating on EPS) and guided on its earnings call (transcript) for FQ2 revenue of $195M-$200M, below a $208.7M consensus.
    • However, the industrial laser maker also reported FQ1 bookings totaled $273M, up 32.9% Q/Q and 68% Y/Y, and good for a 1.43 book-to-bill. Moreover, a fresh bookings record is forecast for FQ2, and orders are expected to remain strong in the second half of FY16.
    • CEO John Ambroseo attributed the numbers to strong OLED manufacturing-related orders for Coherent's Linebeam systems. "The first wave of orders for large format Linebeam systems to be used in OLED production accounted for the bookings increase. The second wave has already arrived in the current quarter with an order well in excess of $150 million. There are a significant number of orders pending for the balance of the second quarter and for the remainder of fiscal 2016 ... We can tell you that deliveries begin in the June quarter and run through calendar 2017."
    • The disclosure comes shortly after LG Display announced new investments to ramp OLED TV panel production, and amid reports Apple plans to use OLEDs in future iPhones (one report indicated a 2018 ETA).
    • OLED materials/IP provider Universal Display (OLED +8.6%) is up strongly. Coherent peers Rofin-Sinar (RSTI +4.3%), IPG Photonics (IPGP +2.6%), and Newport (NEWP +3.5%) are also doing well. The Nasdaq is up 1.5%.
    • Coherent's FQ1 results, earnings release
    | Fri, Jan. 29, 12:39 PM | 5 Comments
  • Apr. 30, 2015, 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.
    | Apr. 30, 2015, 4:00 PM | 1 Comment
  • Feb. 7, 2014, 5:38 PM
    • Top gainers, as of 5:15 p.m.: EGOV +11.9%. RSTI +7.0%. THR +6.5%. TTMI +5.5%. VRSN +5.1%.
    • Top losers, as of 5:15 p.m.: LSCC -12.8%. RLD -10.6%. AT -5.5%. AMAG -5.3%. SEE -5.1%.
    | Feb. 7, 2014, 5:38 PM
  • Jan. 25, 2013, 4:23 PM

    Coherent (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%.

    | Jan. 25, 2013, 4:23 PM
  • Feb. 2, 2012, 9:14 AM

    More 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)

    | Feb. 2, 2012, 9:14 AM
  • Feb. 2, 2012, 8:19 AM
    Rofin-Sinar Technologies (RSTI): FQ1 EPS of $0.28 misses by $0.08. Revenue of $131.5M (-4% Y/Y) misses by $9M. Shares -8.1% premarket. (PR)
    | Feb. 2, 2012, 8:19 AM
  • Nov. 4, 2011, 1:52 PM

    Laser 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.
     

    | Nov. 4, 2011, 1:52 PM
Company Description
Rofin-Sinar Technologies, Inc. manufactures lasers. It designs and develops laser-based system solutions for industrial material processing applications. The company products include single laser-beam sources, CO2 lasers, fiber, solid-state and diode lasers, and the entire power spectrum, from... More
Sector: Technology
Industry: Scientific & Technical Instruments
Country: United States