Coherent, Inc. (COHR) Misses Q4 EPS by 7c

Coherent, Inc. (NASDAQ: COHR) reported Q4 EPS of $0.89, $0.07 worse than the analyst estimate of $0.96. Revenue for the quarter came in at $335.5 million versus the consensus estimate of $329.22 million.

"We had mixed market results in our fourth fiscal quarter. We took another step forward in the display market with the receipt of an order covering a new OLED fab with deliveries scheduled for the current fiscal year. Our semicap business outperformed the market in fiscal 2019 and we expect it to do the same in fiscal 2020. The instrumentation business capped off a record year and prospects look encouraging on a go-forward basis," said John Ambroseo, Coherent's President and Chief Executive Officer. "The book-to-bill for materials processing market was positive in the fourth quarter, but a number of factors continue to weigh on the market including weak PMIs, a struggling auto market and continuing price pressure. The market will eventually right itself, but we expect it to be a slow and steady recovery rather than a revenue snapback. We're taking the opportunity to enhance our product portfolio via R&D investments and improve operational efficiency through our previously announced cost reduction programs, which are proceeding as originally outlined," he added.

For earnings history and earnings-related data on Coherent, Inc. (COHR) click here.

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