Coherent, Inc. (NASDAQ: COHR) reported Q2 EPS of $0.61, $0.09 better than the analyst estimate of $0.52. Revenue for the quarter came in at $293.1 million versus the consensus estimate of $306.08 million.

"During these unprecedented times, Coherent is demonstrating enduring stability," said Andy Mattes, Coherent President and CEO. "We have a solid financial foundation and our product portfolio positions us well for opportunities across numerous long-term resilient markets, including flat panel display, semiconductor, defense and medical instrumentation. Even with a challenging macroeconomic environment we were able to deliver and improve on an already strong balance sheet with an increase in our cash balance by approximately 20 million dollars from the December quarter. Cash preservation will continue to be management's focus, while simultaneously driving smart investments in our future products and technologies. We enter the second half of the fiscal year with confidence in our long-term business outlook and with a commitment to ensuring the safety of our employees, serving our customers, and supporting the communities we are part of."

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