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Earnings Erode in Third Quarter at Coherent

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SANTA CLARA, Calif., July 31, 2014 — Coherent Inc. reported a net income of $13 million in the third quarter of its current fiscal year, compared to 16.7 million in the third quarter of fiscal 2013, a 22 percent decrease.

“Our third-quarter results were somewhat mixed,” said CEO John Ambroseo. “Outstanding bookings were balanced against lower-than-expected earnings, which were impacted by an unfavorable mix and lower volume.”

Third-quarter sales amounted to $196.5 million, compared to $213.7 million in the third quarter of fiscal 2013, a decrease of 8 percent.

Ambroseo highlighted orders for the company’s low-temperature poly-silicon (LPTS) annealing systems, which he said are gaining ground in mobile phone and tablet manufacturing.

He also said there were strong sales of OEM products for materials processing, especially fiber lasers for metal cutting, additive manufacturing systems and laser manufacturing workstations. Cataract, dental and aesthetic lasers performed well also, Ambroseo said.

Meanwhile, the company’s board of directors recently authorized a $25 million common stock buyback program.
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Published: July 2014
Glossary
additive manufacturing
Additive manufacturing (AM), also known as 3D printing, is a manufacturing process that involves creating three-dimensional objects by adding material layer by layer. This is in contrast to traditional manufacturing methods, which often involve subtracting or forming materials to achieve the desired shape. In additive manufacturing, a digital model of the object is created using computer-aided design (CAD) software, and this digital model is then sliced into thin cross-sectional layers. The...
annealing
The process of heating and slowly cooling a solid material, like glass or metal, to stabilize its thermal, electrical or optical properties or, as in semiconductor materials, to reverse lattice damage resulting from ion implantation of dopants.
cutting
The process of forming a lens to a given pattern, or of cutting a piece of glass along the line of scratch.
additive manufacturingfiber lasersindustrialAmericasannealingCoherentcuttingfiber opticsJohn AmbroseoLasersmaterials processingOEMlow-temperature poly-siliconLPTSBusiness

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