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Coherent, Inc. (COHR)

  • Fri, Jan. 30, 12:45 PM
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  • 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
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  • 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
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  • 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%.
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  • Oct. 31, 2012, 10:08 AM
    IPG Photonics (IPGP -6.7%) continues to slump following its Q3 report. Though results beat estimates, the industrial laser maker is guiding for Q4 revenue of $140M-$150M and EPS of $0.65-$0.75, below a consensus of $156.3M and $0.81. IPG, which is heavily exposed to Europe and China, says its Q3 book-to-bill was below 1, and that macro pressures in "a few key geographies" are hurting sales. Rival Coherent (COHR -2.2%) is also lower. IPG's CC is underway (webcast). (PR)
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  • Oct. 22, 2012, 5:38 PM
    Coherent (COHR) +4.1% AH and P.H. Glatfelter (GLT) +4.6% on news they will be joining the S&P MidCap 600 as of Friday's close. Lawson Products (LAWS) and soon-to-be-acquired Peet's Coffee will be removed.
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  • Aug. 25, 2011, 2:11 PM
    Coherent (COHR -2.7%) announces a new $50M stock buyback plan after the laser products company says it completed a previously announced $75M buyback. Shares were down 6% earlier today before recovering a bit.
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Company Description
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.