PITTSBURGH - Coherent Corp. (NYSE:COHR) reported better-than-expected fiscal fourth quarter results and provided guidance for the first quarter that was largely in line with analyst estimates.
The materials, networking and lasers company posted adjusted earnings per share of $0.74, surpassing the analyst consensus of $0.61. Revenue came in at $1.35 billion, topping expectations of $1.31 billion and representing a 28% increase year-over-year.
"We delivered solid growth in the September quarter on both a sequential and year-over-year basis, driven primarily by our AI-related Datacom transceivers," said CEO Jim Anderson. "We also drove higher gross margin and operating margin."
For the fiscal first quarter, Coherent projects adjusted EPS between $0.61 and $0.77 on revenue of $1.33 billion to $1.41 billion. The midpoints of those ranges align closely with Wall Street's forecasts of $0.69 EPS and $1.35 billion in revenue.
The company's adjusted gross margin expanded to 37.7% in Q4, up from 34.8% in the year-ago quarter. Operating income on a non-GAAP basis jumped 76% year-over-year to $233 million.
CFO Sherri Luther noted that revenue growth and margin expansion drove strong sequential and year-over-year increases in both GAAP and non-GAAP EPS. The company also paid down $118 million of outstanding debt during the quarter.
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