SAXONBURG, Pa. (AP) — SAXONBURG, Pa. (AP) — Coherent Corp. (COHR) on Wednesday reported fiscal third-quarter earnings of $15.7 million.
On a per-share basis, the Saxonburg, Pennsylvania-based company said it had net loss of 11 cents. Earnings, adjusted for one-time gains and costs, were 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The Laser and optics manufacturer posted revenue of $1.5 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.44 billion.
For the current quarter ending in June, Coherent expects its per-share earnings to range from 81 cents to $1.01.
The company said it expects revenue in the range of $1.43 billion to $1.58 billion for the fiscal fourth quarter.
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