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COHERENT INC. ANNOUNCES THIRD QUARTER RESULTS

 SANTA CLARA, Calif., July 21 /PRNewswire/ -- Coherent Inc. (NASDAQ: COHR) today announced results for its third fiscal quarter ended June 26, 1993.
 Three Months Ended Nine Months Ended
 June 26, June 27, June 26, June 27,
 1993 1992 1993 1992
 (in thousands, except per share amounts)
 Net sales $54,010 $50,471 $159,330 $160,613
 Income (loss) before
 income taxes 2,817 (956) 9,119 3,491
 Net income (loss) 2,033 (932) 5,855 1,428
 Net income (loss)
 per share $ 0.20 $ (0.10) $ 0.59 $ 0.15
 Average common and
 common equivalent
 shares outstanding 10,184 9,412 9,989 9,553
 Current year net income of $2.0 million (20 cents per share) for the quarter and $5.9 million (59 cents per share) for the nine month period represent improvements of $3.0 million and $4.4 million, respectively, over the same periods last year. These increases in net income were primarily attributed to higher gross margins (which increased to 48 percent and 47 percent for the quarter and nine months ended June 26, 1993, from 44 percent for the same periods a year ago), lower operating expenses for both periods, and a lower effective tax rate for fiscal 1993. These increases were partially offset by lower other income in the current quarter and nine months ended June 26, 1993.
 Sales for the current quarter increased $3.5 million (7 percent) while sales for the nine-month period decreased $1.3 million (1 percent) from the prior year periods. Current quarter sales were higher in all three of the company's business segments compared to the same quarter a year ago. The year-to-date sales decrease was primarily attributed to lower sales within the Industrial segment.
 Coherent is recognized as a world leader in the design, manufacture and marketing of lasers and systems for medical, scientific, OEM and micromachining applications.
 -0- 7/21/93
 /CONTACT: Robert J. Quillinan, vice president and chief financial officer, of Coherent, 408-764-4168/
 (COHR)


CO: Coherent Inc. ST: California IN: CPR MTC SU: ERN

TM-MC -- SJ005 -- 3907 07/21/93 11:39 EDT
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Date:Jul 21, 1993
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