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COHERENT INC. ANNOUNCES FIRST QUARTER RESULTS

 PALO ALTO, Calif., Jan. 20 /PRNewswire/ -- Coherent Inc. (NASDAQ: COHR) today announced results for its first fiscal quarter ended Dec. 26, 1992, as follows:
 COHERENT INC.
 Three Months Ended
 Dec. 26, 1992 Dec. 28, 1991
 (in thousands, except per share data)
 Sales $50,304 $54,703
 Income before income taxes 2,767 1,952
 Net income 1,572 1,015
 Net income per share 0.16 0.11
 Average common and common
 equivalent shares outstanding 9,813 9,551
 First quarter results improved significantly over the prior year period as income before income taxes and net income rose by 42 percent ($815,000) and 55 percent ($557,000), respectively. Net income per share improved by 45 percent to $0.16 from $0.11 per share in the prior year period.
 The improved financial performance was achieved even though sales decreased almost $4.4 million to $50.3 million. Most of the sales decline occurred within the company's Industrial segment, where despite an order rate increase for the quarter, sales decreased approximately $3.5 million from the corresponding prior year period. Profitability improved primarily as a result of an increase in gross margin as a percentage of sales, lower operating expenses resulting from organizational changes implemented in the second half of fiscal 1992, and a lower effective tax rate for the current quarter.
 Overall, incoming orders for the quarter exceeded $60M for the first time in the company's 27-year history. Order increases were achieved both in the United States and internationally which the company attributes to improved market penetration of products introduced during the past two years. The improvements internationally were particularly strong and reflect the initial results of the company's increased strategic emphasis in these territories since mid-year 1992.
 Coherent is a world leader in the design, manufacture and marketing of lasers for medicine, science and industry. Please direct any questions to the contact person listed below.
 -0- 1/20/93
 /CONTACT: Dennis C. Bucek, treasurer of Coherent, 415-852-8267/
 (COHR)


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

TM-MC -- SJ003 -- 6862 01/20/93 11:58 EST
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Publication:PR Newswire
Date:Jan 20, 1993
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