PITTSBURGH - Coherent Corp. (NYSE: NYSE:COHR), a company specializing in materials, networking, and laser technologies, announced today the appointment of Sherri Luther as its new Chief Financial Officer and Treasurer. Luther, who has over 30 years of experience in strategic and financial operations, is transitioning from her role as CFO at Lattice (OTC:LTTC) Semiconductor, a position she has held since 2019.
Jim Anderson, CEO of Coherent, expressed confidence in Luther's capabilities, citing her extensive background and previous 16-year tenure at Coherent, Inc. before its acquisition. Luther's expertise in financial reporting, forecasting, internal audit, mergers and acquisitions, treasury, investor relations, operations, and global supply chain management is anticipated to be instrumental in driving Coherent's financial strategy and growth.
In her remarks, Luther conveyed enthusiasm about her new role, emphasizing Coherent's strong position to enhance profit growth and cash generation. She also acknowledged Rich Martucci, the Interim CFO, for his contributions and leadership, ensuring a smooth transition.
Luther's professional journey includes senior finance and accounting roles at Quantum (NASDAQ:QMCO) and Ultra Network Technologies, as well as time at Arthur Andersen. She is a Certified Public Accountant and holds an Executive MBA from Stanford University Graduate School of Business, along with a Bachelor of Business Administration from Wright State University. Additionally, Luther serves on the Board of Directors of Silicon Labs and holds NACD Directorship Certification.
Coherent serves a diverse range of markets, including industrial, communications, electronics, and instrumentation, with a global footprint in research and development, manufacturing, sales, service, and distribution. The company's forward-looking statements indicate an expectation to leverage the executive team's experience to achieve future growth, but also acknowledge the inherent risks and uncertainties in such projections.
This announcement is based on a press release statement from Coherent Corp. and does not include any speculative or forward-looking commentary.
In other recent news, Coherent Corp. reported a 9.1% year-over-year increase in fourth-quarter revenue, reaching $1.31 billion, with adjusted earnings per share at $0.61, slightly above the consensus forecast. The company also announced the sale of its Newton Aycliffe manufacturing facility in the UK, a strategic move to streamline operations. Furthermore, Coherent Corp. unveiled two advanced transceiver modules at the European Conference on Optical Communication, aimed at enhancing data transmission speeds and efficiency.
In leadership changes, James R. Anderson, the current CEO, has been appointed as the new President, following the resignation of the outgoing President. Analyst firms including Loop Capital, Craig-Hallum, Benchmark, Rosenblatt Securities, Morgan Stanley, and Citi have raised their price targets for Coherent, indicating confidence in the company's future growth.
Coherent Corp. is also making strategic moves to divest non-core and underperforming businesses, aiming to improve its balance sheet. The company anticipates first-quarter revenue for fiscal 2025 to fall between $1.27 billion and $1.35 billion, with adjusted earnings per share projected to range from $0.53 to $0.69. These are among the recent developments shaping the trajectory of Coherent Corp.
InvestingPro Insights
As Coherent Corp. (NYSE: COHR) welcomes Sherri Luther as its new CFO, investors may find additional context from recent financial data and expert insights. According to InvestingPro, Coherent's market capitalization stands at $15.29 billion, reflecting its significant presence in the materials, networking, and laser technologies sectors.
The company's financial performance has been mixed, with revenue for the last twelve months as of Q4 2024 reaching $4.71 billion, despite a year-over-year decline of 8.77%. However, there are signs of improvement, as quarterly revenue growth for Q4 2024 showed a positive 9.07% increase.
InvestingPro Tips highlight that net income is expected to grow this year, and analysts predict the company will be profitable in the current fiscal year. This aligns with Luther's focus on enhancing profit growth and cash generation, as mentioned in the article.
The stock has shown strong performance, with a remarkable 184.65% price total return over the past year. This robust growth is further emphasized by the stock trading near its 52-week high, with the current price at 99.66% of that peak.
Investors should note that while Coherent's stock has demonstrated high returns, it also comes with volatility. An InvestingPro Tip indicates that stock price movements are quite volatile, which could be relevant for risk assessment as the new CFO takes the helm.
For those interested in a deeper dive into Coherent's financial health and market position, InvestingPro offers 16 additional tips, providing a comprehensive view of the company's prospects and challenges.
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