SAXONBURG, Pa. (AP) — SAXONBURG, Pa. (AP) — Coherent Corp. (COHR) on Wednesday reported fiscal second-quarter net income of $103.4 million.
On a per-share basis, the Saxonburg, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 95 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The Laser and optics manufacturer posted revenue of $1.43 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.38 billion.
For the current quarter ending in March, Coherent expects its per-share earnings to range from 75 cents to 95 cents.
The company said it expects revenue in the range of $1.39 billion to $1.48 billion for the fiscal third quarter.
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