Coherent, Inc. (COHR) Misses Q3 EPS by 7c

Coherent, Inc. (NASDAQ: COHR) reported Q3 EPS of $0.73, $0.07 worse than the analyst estimate of $0.80. Revenue for the quarter came in at $196.5 million versus the consensus estimate of $201.2 million.

"Our third quarter results were somewhat mixed. Outstanding bookings were balanced against lower than expected earnings, which were impacted by an unfavorable mix and lower volume. We received a number of new LTPS orders for Linebeam 750 systems from several different end customers, further validating the value of this process. The LTPS outlook is robust due to continued share gains in mobile handsets and initial penetration into tablets. We posted record-setting orders for OEM instrumentation with strong contributions from LASIK, cataract, dental and aesthetic accounts. We also received solid orders from materials processing customers. High power applications did very well with new OEM customers for fiber solutions in metal cutting in China and India, key initial orders in additive manufacturing and strong bookings for laser manufacturing workstations. The combination of these orders with our opening backlog provides a solid growth trajectory beginning in the current quarter and into fiscal 2015," said John Ambroseo, Coherent's President and Chief Executive Officer.

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

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