Coherent Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 06, 2024 at 04:16 pm EDT
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Coherent Corp. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 1,208.8 million compared to USD 1,240.2 million a year ago. Net loss was USD 13.2 million compared to net income of USD 2.5 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 0.29 compared to USD 0.24 a year ago.
For the nine months, sales was USD 3,393.3 million compared to USD 3,955 million a year ago. Net loss was USD 107.7 million compared to USD 81.2 million a year ago. Basic loss per share from continuing operations was USD 1.32 compared to USD 1.38 a year ago. Diluted loss per share from continuing operations was USD 1.32 compared to USD 1.38 a year ago.
Coherent Corp. is a vertically integrated manufacturing company. The Company develops, manufactures and markets engineered materials, optoelectronic components and devices, optical and laser subsystems and systems for use in the industrial, communications, electronics, and instrumentation markets. Its segments include Networking, Materials, and Lasers. The Networking segment designs, manufactures, and markets products, such as optical and electro-optical components and materials, infrared optical components, semiconductor lasers and detectors, engineered materials, and compound semiconductor epitaxial wafers. The Materials segment manufactures transceivers for data centers and telecom optical networks, pump lasers, optical amplifiers, crystal materials, optics, lasers and optoelectronic modules. The Lasers segment offers lasers and optics products that serve industrial customers in semiconductor and display capital equipment, precision manufacturing, and aerospace and defense.