SAXONBURG, Pa. (AP) — SAXONBURG, Pa. (AP) — Coherent Corp. (COHR) on Wednesday reported fiscal fourth-quarter net income of $240.5 million.
On a per-share basis, the Saxonburg, Pennsylvania-based company said it had net income of $1.19. Earnings, adjusted for one-time gains and costs, came to $1.74 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.
The Laser and optics manufacturer posted revenue of $2.05 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.99 billion.
For the year, the company reported profit of $805 million, or $4.12 per share. Revenue was reported as $7.12 billion.
For the current quarter ending in September, Coherent expects its per-share earnings to range from $1.85 to $2.05.
The company said it expects revenue in the range of $2.2 billion to $2.4 billion for the fiscal first quarter.
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