Earnings Erode in Third Quarter at Coherent
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...