Coherent Reports Record Sales, Orders for Quarter
SANTA CLARA, Calif., April 26 -- Coherent Inc. reported net income of $8.4 million on sales of $136.7 million for the second quarter ended April 1, 2000. Net income rose $3 million, or 56 percent, compared with last year's results for the same quarter, while sales increased by 17 percent to $20.1 million. The company set a new record for incoming orders for the quarter; this year's $159.8-million worth of orders represented a 45-percent increase from the second quarter of fiscal 1999.
Coherent said that strong semiconductor, semiconductor equipment, and telecommunications equipment industries favorably impacted sales in the electro-optical and Lambda Physik segments. The company also noted that the medical segment achieved its third consecutive quarter of profitability -- its highest level since the second quarter of fiscal 1998.
Bernard Couillaud, Coherent's president and CEO, commented, During the second quarter, Lambda Physik's order rate in the lithography business was up more than two fold over the comparable prior year period and 18 percent higher than our first quarter. We are confident in our ability to continue making an impact in this market. Couillaud also noted, On the telecommunications side, we are getting greater visibility in the marketplace, as telecommunications-related orders for the quarter increased to almost $5 million. Other specific target areas include laser semiconductor diodes, laser hair removal and AMD.
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