COHERENT INC. ANNOUNCES SECOND QUARTER RESULTS
COHERENT INC. ANNOUNCES SECOND QUARTER RESULTS PALO ALTO, Calif., April 22 /PRNewswire/ -- Coherent Inc.
(NASDAQ: COHR) today announced results for its second fiscal quarter ended March 28, 1992.
Three Months Ended Six Months Ended March 28, March 30, March 28, March 30, 1992 1991 1992 1991 (In thousands, except per share amounts) Net Sales $55,439 $54,520 $110,142 $102,841 Income before income taxes 2,495 1,832 4,447 2,673 Net income 1,345 944 2,360 1,244 Net income per share .14 .10 .25 .13 Average common and common equivalent shares outstanding 9,698 9,293 9,624 9,220 Second quarter and year to date net income were 42 percent and 90 percent higher, respectively, than the corresponding prior year periods as net income for the current periods rose to $1,345,000 ($.14 per share) and $2,360,000 ($.25 per share), respectively, from $944,000 ($.10 per share) and $1,244,000 ($.13 per share). These increases were primarily the result of higher sales and higher gross margins which improved to 45 percent for the quarter and 44 percent for the six month period from 43 percent and 42 percent, respectively. Operations during the quarter were favorably impacted by the medical segment of the company's business which returned to profitability for the second quarter after a first quarter loss. Sales for the three month and six month periods ended March 28, 1992, increased 2 percent and 7 percent, respectively, over the prior year periods. Sales growth within the medical and electro-optical segments was partially offset by decreased sales of the company's industrial group. During the quarter, the company announced the appointments of Leonard C. DeBenedictis as vice president and general manager of its medical group and Bernard J. Couillaud as vice president and general manager of its laser group, the position previously held by DeBenedictis. Prior to the appointment, Couillaud was a business unit manager within the laser group. Both appointments were effective April 1, 1992. Coherent is recognized as a world leader in the design, manufacture and marketing of lasers for medicine, science and industry. -0- 4/22/92 /CONTACT: Robert J. Quillinan of Coherent Inc., 415-852-8268/ (COHR) CO: Coherent Inc. ST: California IN: MTC SU: ERN
DG-RM -- SJ001 -- 1105 04/22/92 09:31 EDT
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|Date:||Apr 22, 1992|
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