Coherent Inc (COHR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, September 28, 2019

Home SEC Filings Coherent Inc (COHR) 10-K Annual Report Tue Nov 26 2019



Exhibit 99.1


cohrprletterheada04.jpg
November 5, 2019
Press Release No. 1463
For Immediate Release:


Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results

SANTA CLARA, CA, November 5, 2019 -- Coherent, Inc. (NASDAQ, COHR), one of the world’s leading providers of lasers, laser-based technologies and laser-based system solutions in a broad range of scientific, commercial and industrial applications, today announced financial results for its fourth fiscal quarter and fiscal year ended September 28, 2019.

FINANCIAL HIGHLIGHTS

 
Three Months Ended

Year Ended
 
Sep. 28, 2019

Jun. 29, 2019

Sep. 29, 2018

Sep. 28, 2019

Sep. 29, 2018
GAAP Results
 
 
 
 
 
 
 
 
 
(in millions except per share data)
 
 
 
 
 
 
 
 
Net sales
$
335.5

 
$
339.2

 
$
461.5

 
$
1,430.6

 
$
1,902.6

Net income (loss)
$
0.6

 
$
(3.1
)
 
$
73.2

 
$
53.8

 
$
247.4

Diluted EPS
$
0.03

 
$
(0.13
)
 
$
2.99

 
$
2.22

 
$
9.95

 
 
 
 
 
 
 
 
 
 
Non-GAAP Results
 
 
 
 
 
 
 
 
 
(in millions except per share data)
 
 
 
 
 
 
 
 
Net income
$
21.4

 
$
32.1

 
$
78.8

 
$
143.8

 
$
338.9

Diluted EPS
$
0.89

 
$
1.33

 
$
3.22

 
$
5.92

 
$
13.64



FOURTH FISCAL QUARTER AND FISCAL YEAR DETAILS

For the fourth fiscal quarter ended September 28, 2019, Coherent announced net sales of $335.5 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $0.6 million, or $0.03 per diluted share.

These results compare to net sales of $461.5 million and net income of $73.2 million, or $2.99 per diluted share, for the fourth quarter of fiscal 2018, and net sales of $339.2 million and net loss of $(3.1) million, or $(0.13) per diluted share, for the third quarter of fiscal 2019.

Non-GAAP net income for the fourth quarter of fiscal 2019 was $21.4 million, or $0.89 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2018 was $78.8 million, or $3.22 per diluted share. Non-GAAP net income for the third quarter of fiscal 2019 was $32.1 million, or $1.33 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended September 28, 2019, June 29, 2019 and September 29, 2018 and for the fiscal years ended September 28, 2019 and September 29, 2018 appear in the financial statements portion of this release under the heading "Reconciliation of GAAP to Non-GAAP net income".


The following information was filed by Coherent Inc (COHR) on Tuesday, November 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Coherent Inc's 10-K Annual Report:

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Ticker: COHR
CIK: 21510
Form Type: 10-K Annual Report
Accession Number: 0000021510-19-000034
Submitted to the SEC: Tue Nov 26 2019 11:06:13 AM EST
Accepted by the SEC: Tue Nov 26 2019
Period: Saturday, September 28, 2019
Industry: Laboratory Analytical Instruments

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