Coherent, Inc. Announces Record Second Quarter Results
April 22, 1996
Coherent, Inc. (Santa Clara, CA) (NASDAQ: COHR) today announced results for its second
fiscal quarter ended March 30, 1996 as follows:
Three Months Ended Six Months Ended
Mar. 30, April 1, Mar. 30, April 1,
1996 1995 1996 1995
(In thousands, except per share amounts)
Net Sales $90,552 $66,456 $174,233 $125,039
Income Before Tax 12,115 7,281 22,713 12,987
Net Income $7,351 $4,389 $13,816 $7,875
Net income per share $.64 $.40 $1.21 $.73
Average common and common 11,507 11,034 11,456 10,854
equivalent shares outstanding
The Company reported record sales for its second fiscal quarter and six month period ended
March 30, 1996. Sales were 36% and 39% higher, respectively, than those of the corresponding
prior year periods. Of these increases, current quarter and six month sales increased in the
Medical
segment by 43% and 49%, and by 31% and 32% in the Electro-Optical segment, respectively.
Net income for the current quarter and six months ended March 30, 1996 increased 67% to $7.4
million ($.64 per share) and 75% to $13.8 million ($1.21 per share), respectively, compared to
the
same periods last year. The primary factors contributing to these increases were the higher sales
and higher gross margins as a percentage of sales.
The increases in sales reflect the Company's record order rate for the current quarter and six
month
period ended March 30, 1996, as incoming orders were higher by 22% (at $94.7 million) and
21%
(at $178.9 million), respectively, than the corresponding prior year periods.
Coherent, Inc. is recognized as a world leader in the design, manufacture and marketing of
lasers
and systems for medical, scientific, OEM and micromachining applications. Please direct any
questions to Robert J. Quillinan, Vice President and Chief Financial Officer at (408)764-4168.
To receive a full text copy of this press release by fax, please call 800-758-5804, extension
182802. |
