Printer Friendly

COHERENT ANNOUNCES RESULTS FOR FOURTH QUARTER AND YEAR ENDED SEPT. 26, 1992

 COHERENT ANNOUNCES RESULTS FOR FOURTH QUARTER
 AND YEAR ENDED SEPT. 26, 1992
 PALO ALTO, Calif., Nov. 3 /PRNewswire/ -- Coherent Inc. (NASDAQ: COHR) today announced record sales of $215.4 million for its fiscal year ended Sept. 26, 1992. Higher sales in both the Electro-Optical and Medical segments were the primary contributors to the $7.6 million (4 percent) increase over the prior year. Net income for the current year improved to $2.6 million (28 cents per share) compared to $0.2 million (2 cents per share) last year.
 Fourth quarter sales were $1.9 million (3 percent) lower than the same quarter last year, primarily as the result of weak demand in the Industrial segment, partially offset by stronger Medical segment demand. Despite the lower quarterly sales level, net income improved to $1.2 million (13 cents per share) compared to $1.1 million (12 cents per share) in the prior year fourth quarter. Compared to the third quarter of this year, sales were $4.3 million (9 percent) higher as all three business segments recorded revenue improvements.
 The increase in net income for the year was due to improved gross profit percentages on higher sales and to a lower effective tax rate, partially offset by higher operating expenses. The increase in net income for the quarter was primarily due to improved gross profit percentages, lower operating expenses and a lower effective tax rate. The lower tax rate resulted from better geographic distribution of the company's income. Gross profit for the fiscal year improved to 45 percent from 43 percent in the prior year, and in the fourth quarter improved to 46 percent from 45 percent in the prior year period, thus continuing a positive trend.
 COHERENT INC.
 3 Months Ended 12 Months Ended
 Sept. 26, Sept. 28, Sept. 26, Sept. 28,
 1992 1991 1992 1991
 (In thousands, except per share amounts)
 Sales $ 54,814 $ 56,678 $215,427 $207,792
 Income before
 income taxes 1,962 2,133 5,453 3,116
 Net income 1,216 1,103 2,644 227
 Net income per
 share 0.13 0.12 0.28 0.02
 Average common
 and common
 equivalent shares
 outstanding 9,607 9,394 9,567 9,327
 Coherent Inc. is recognized as a world leader in the design, manufacture and marketing of lasers for medicine, science and industry. Please direct any questions to Dennis C. Bucek, treasurer, at 415-852-8267.
 -0- 11/3/92
 /CONTACT: Dennis C. Bucek, treasurer of Coherent, 415-852-8267/
 (COHR) CO: Coherent Inc. ST: California IN: MTC SU: ERN


GT-BR -- SJ002 -- 2030 11/03/92 11:27 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 3, 1992
Words:433
Previous Article:LEECO DIAGNOSTICS, INC. ANNOUNCES THIRD QUARTER RESULTS
Next Article:LIFECORE BIOMEDICAL REPORTS FIRST QUARTER RESULTS; INCREASED ALCON ORDER
Topics:


Related Articles
COHERENT INC. ANNOUNCES RESULTS FOR FOURTH QUARTER AND YEAR ENDED SEPT. 28, 1991
COHERENT EXPECTS TO REPORT A LOSS
COHERENT ANNOUNCES THIRD QUARTER RESULTS
COHERENT INC. ANNOUNCES FIRST QUARTER RESULTS
COHERENT INC. ANNOUNCES THIRD QUARTER RESULTS
COHERENT INC. ANNOUNCES RESULTS FOR FOURTH QUARTER AND YEAR ENDED SEPT. 25, 1993
COHERENT, INC. REPORTS FOURTH QUARTER - SALES UP 46%, INCOME UP 110%
Coherent, Inc. Announces Record Results
Coherent, Inc. Fourth Quarter Results Include Record Sales and Profits.
Coherent, Inc. Reports Fourth Quarter and Fiscal Year's Results.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters