COHERENT ANNOUNCES THIRD QUARTER RESULTS
COHERENT ANNOUNCES THIRD QUARTER RESULTS PALO ALTO, Calif., July 22 /PRNewswire/ -- Coherent Inc.
(NASDAQ: COHR) today announced final results for its third fiscal quarter ended June 27, 1992.
Three Months Ended Nine Months Ended June 27, June 29, June 27, June 29, 1992 1991 1992 1991 (In thousands, except per share amounts) Net sales $50,471 $48,273 $160,613 $151,114 Income (loss) before income taxes (956) (1,690) 3,491 983 Net income (loss) (932) (2,120) 1,428 (876) Net income (loss) per share $ (.10) $ (.23) $ .15 $ (.10) Average common and common equivalent shares outstanding 9,412 9,028 9,553 8,979 Sales for the third quarter, while representing an increase of 4.6 percent over the corresponding prior year period, decreased 9.0 percent from the immediately preceding quarter. Year-to-date sales increased 6.3 percent over the prior year. The net loss reported for the current quarter of $932,000 or $.10 per share, represented an improvement over the corresponding prior year period's loss of $2,120,000 or $.23 per share. This improvement was the result of higher sales, higher gross margins, an increase in other income, and lower tax expense; such improvements were partially offset by higher operating expenses. However, the current quarter's $.10 net loss per share represents a significant drop from the $.14 net income per share reported in the company's second quarter of this year. This drop was primarily due to lower sales and an increase in operating expenses, partially offset by higher other income. For the nine-month-to-date period, profitability improved to $1,428,000 or $.15 per share from a loss of $876,000 or $.10 per share for the corresponding prior year period. Coherent is recognized as a world leader in the design, manufacture and marketing of lasers for medicine, science and industry. -0- 7/22/92 /CONTACT: Robert J. Quillinan, vice president and CFO of Coherent, 415-852-8268/ (COHR) CO: Coherent Inc. ST: California IN: MTC SU: ERN
MM-DG -- SJ006 -- 1956 07/22/92 13:25 EDT
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|Date:||Jul 22, 1992|
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