SAXONBURG, Pa. (AP) — SAXONBURG, Pa. (AP) — Coherent Corp. (COHR) on Wednesday reported fiscal first-quarter profit of $226.3 million.
On a per-share basis, the Saxonburg, Pennsylvania-based company said it had profit of $1.19. Earnings, adjusted for one-time gains and costs, were $1.16 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The Laser and optics manufacturer posted revenue of $1.58 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.54 billion.
For the current quarter ending in December, Coherent expects its per-share earnings to range from $1.10 to $1.30.
The company said it expects revenue in the range of $1.56 billion to $1.7 billion for the fiscal second quarter.
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