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.
Wed, Apr. 29, 4:13 PM
Tue, Apr. 28, 5:35 PM
- AEL, AFFX, AR, ARII, ARRS, ASGN, ASH, ATRC, ATW, AVG, AXS, BIDU, BLKB, BVN, CACI, CAVM, CBT, CHMT, CMO, CMPR, CNO, CNW, COHR, CRL, CSGP, CSII, CW, CWT, DOX, DRE, DXCM, DYAX, ECOL, ELGX, EQIX, EQY, ES, ESV, EXL, EXR, FLEX, FOE, FORM, FORR, GLUU, HOLX, HOS, HY, IPCM, ISIL, KAMN, KEG, KEX, KRA, LNC, LOCK, LOPE, LXRX, MAA, MAC, MANT, MAR, MDAS, MEOH, MEP, MMLP, MTGE, MTW, MUR, NE, NSR, NXPI, O, OGS, OIS, PDM, PPC, PRXL, PTC, QEP, QUIK, RKT, ROG, RRTS, SAM, SCI, SFLY, SGI, SPOK, SPRT, SSS, STAA, STR, SU, TAL, TCO, TEX, TILE, TTEK, TTMI, TX, UNM, VAR, VRTX, WLL, WMB, WMGI, WTS, XL, YELP
Fri, Jan. 30, 12:39 PM
- With shares having gone into trading near their 52-week low of $53.76, Coherent's (NASDAQ:COHR) FQ1 beat is easily overshadowing light FQ2 guidance: Revenue of $195M-$205M vs. a $209.2M consensus.
- Also helping: The industrial laser vendor has launched a new $25M buyback (good through Jan. 2016), and stated on its CC (transcript) it expects fiscal 2H revenue to be up ~10% from 1H levels. A $25M buyback launched last July has been used up.
- With OEM order timings and soft European sales weighing on results, FQ1 bookings fell 19% Y/Y to $162.5M, and book-to-bill was 0.81. Strong Asian life sciences demand is boosting sales of Coherent's Chameleon lasers.
- FQ1 results, PR
Thu, Jan. 29, 4:26 PM
Wed, Jan. 28, 5:35 PM
- ABAX, ALGN, AMZN, AVNW, BCR, BIIB, BRCM, BXP, CB, COHR, CORT, CPHD, CPSI, CTCT, DECK, EFII, ELX, ELY, EMN, EPAY, FICO, GDOT, GIMO, GOOG, HA, HBI, HLIT, INVN, ISBC, IXYS, JDSU, LEG, MCHP, MITK, MTW, N, NATI, NEU, NFG, NGVC, PCCC, PFG, PFPT, PKI, PMCS, QLGC, RHI, RVBD, SFG, SWI, SYNA, TFSL, TUES, UIS, V, VR, WERN
Nov. 4, 2014, 4:20 PM
Nov. 3, 2014, 5:35 PM
- ADEP, AMRS, ATVI, AWAY, AXLL, BIO, BIOL, BIRT, CALD, CBSO, CDXS, CERS, CHUY, CKEC, COHR, CORT, COUP, CRTO, CSU, DOX, DVN, ENPH, EXAM, EXEL, FANG, FEYE, FOXA, FRGI, GAS, GHDX, HR, ITRI, IVR, JAZZ, JIVE, JKHY, JMBA, KAR, MITT, MOSY, MPO, MYGN, NP, NRP, NSTG, NYMT, OAS, OCLR, OKE, OKS, PACD, PAYC, PBPB, PCYC, PEGA, PHH, PRI, PXD, PZZA, REGI, REXX, RLOC, RNR, RP, SBAC, SN, SPA, SQNM, TMH, TNET, TRIP, TTGT, TWO, TWOU, TX, UIL, WPX, XEC, XNPT, ZAGG, ZU
Jul. 30, 2014, 4:53 PM
Jul. 29, 2014, 5:35 PM
- ABX, AEL, AEM, AKAM, ALB, ALL, ALLE, AMC, ANIK, ARII, ASGN, ATEN, ATW, AUY, AVG, BALT, BGC, BMRN, CATM, CAVM, CBT, CENX, CHDN, CJES, CLUB, CMO, CNL, CNW, CODE, COHR, CTRP, CW, CWT, DDR, DRE, DRIV, EGN, EHTH, ELGX, ENTR, EQIX, EQY, ESRT, ESV, EXL, EXR, FBHS, FEIC, FISH, FMC, FNF, FOE, FORM, FORR, GLUU, HIG, HK, HOLX, HOS, HR, HTH, INT, IPI, ISIL, KBR, KEX, KGC, KRFT, KS, LGCY, LNC, LOCK, LPSN, LRCX, MAA, MANT, MDAS, MEOH, MET, MOBL, MOH, MTGE, MTW, MUR, NANO, NE, NEWP, NOW, OI, OTEX, PDM, PEIX, PGTI, PPC, PVA, QUIK, RKUS, ROVI, RRTS, SAM, SBRA, SCI, SFLY, SIMG, SPN, SPRT, SSS, STAA, STAG, STMP, STR, SU, SZYM, TCO, TGB, TGI, TS, TSO, TTEK, TTMI, TWTC, UNM, VGR, VPRT, WDC, WFM, WLL, WMB, WPZ, WSTL, WTW, YELP
Apr. 30, 2014, 5:52 PM
Apr. 29, 2014, 5:35 PM
- AEL, ANAD, ARAY, ARII, ASH, ATML, ATW, AXTI, BCOV, BDN, BGC, BMR, BYD, CACI, CAVM, CBG, CBT, CGNX, CHMT, CJES, CMO, CNW, COHR, CRL, CSII, CW, CWT, DOX, DRE, DRIV, EDMC, EGN, ELGX, ELX, EPAM, EQIX, EQR, EXL, FBHS, FLEX, FLTX, FNF, FORM, GDOT, GLUU, HOLX, HOS, HR, INT, IO, IPI, IRF, IRG, ISIL, JDSU, JKHY, KEG, KEX, KONA, KS, KTOS, LNC, LOCK, LOPE, MAA, MANT, MASI, MDAS, MDU, MET, MTGE, MUR, NBIX, NEWP, NGD, OILT, OPLK, PACB, PDM, PEIX, PFPT, POL, PPC, PRAA, QUIK, RKUS, ROVI, RRTS, SAM, SFLY, SGI, SPRT, SSS, STMP, TEX, TSO, TSRO, TTEK, TTMI, UNTD, VNTV, WBMD, WDC, WLL, WMB, WMGI, WPZ, WTW, YELP.
Jan. 29, 2014, 4:21 PM
Jan. 29, 2014, 12:10 AM| 5 Comments
Jan. 28, 2014, 5:35 PM| Comment!
Nov. 1, 2013, 9:21 AM
- Discussing its Q3 EPS (flat Y/Y and $0.03 below consensus), IPG Photonics (IPGP) says the figure "reflects the peak of [its] current investment cycle expanding manufacturing capacity, R&D and sales and marketing."
- Those investments are set to affect Q4 results as well: The industrial laser vendor is guiding for Q4 revenue of $155M-$170M and EPS of $0.68-$0.82 vs. a consensus of $163.6M and $0.80. Demand is expected to be "seasonally weaker in certain areas."
- Also hurting EPS: gross margin came in at 53.9%, +40 bps Q/Q but -110 bps Y/Y. R&D spend jumped 48% Y/Y to $11.5M, sales/marketing rose 17% to $6.8M; both growth rates exceeded revenue growth of 10%.
- Asian sales rose 40% Y/Y thanks to strong Chinese/Turkish demand, but North American and European sales fell. IPG's core materials processing business saw 19% Y/Y sales growth, down from 26% in Q2 and 29% in Q1.
- No mention in the PR of book-to-bill; in the Q2 report, IPG announced B2B "substantially exceeded 1."
- COHR -1% in sympathy
- Q3 results, PR
COHR vs. ETF Alternatives
Coherent Inc is a supplier of photonics-based solutions in a range of commercial and scientific research applications. It designs, manufactures, services and markets lasers and related accessories for a diverse group of customers.
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