LONDON, UK / ACCESSWIRE / March 08, 2018 / Active-Investors.com has just released a free earnings report on Coherent, Inc. (NASDAQ: COHR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=COHR. The Company reported its first quarter fiscal 2018 operating and financial results on February 07, 2018. The maker of lasers for commercial and scientific uses outperformed top- and bottom-line expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Coherent most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the first fiscal quarter ended December 30, 2017, Coherent's net sales surged 38% to $477.6 million compared to $346.1 million in Q1 FY17. The Company's revenue numbers topped analysts' estimates by $4.17 million.

On November 07, 2016, Coherent completed the acquisition of Rofin-Sinar Technologies, Inc. ("Rofin"), one of the world's leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components. Consequently, Rofin's operating results were consolidated for the period from November 07, 2016, through December 31, 2016, in Coherent's results of Q1 FY17, while the Company's results of Q1 FY18 included a full quarter of Rofin's operating results.

During Q1 FY18, Coherent's non-GAAP gross margin was 48.5%; non-GAAP operating margin came in at 27.8%; and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was 30.9%.

For Q1 FY18, Coherent announced a US GAAP net income of $41.9 million, or $1.67 per diluted share, compared to $30.4 million, or $1.23 per diluted share, in Q1 FY17. The Company's reported quarter results included $41.7 million, or $1.67 per diluted share, of largely one-time additional income tax expenses, due to the provisions under the Tax Cuts and Jobs Act 2017 (TCJA), as well as a benefit of $12.5 million, or $0.50 per diluted share, from the adoption of new rules for accounting for excess tax benefits and deficiencies for employee stock-based compensations.

Coherent's non-GAAP net income was $88.6 million, or $3.54 per diluted share, in Q1 FY18 compared to $63.4 million, or $2.57 per diluted share, in Q1 FY17. The Company's earnings beat Wall Street's estimates of $3.56 per share.

Cash Matters

Coherent stated that the financial results for Q1 FY18 enabled the Company to make a ?75 million voluntary debt payment. Coherent has now repaid approximately one third of the debt used to finance the Rofin transaction.

Coherent's non-restricted cash, cash equivalents, and short-term investments were approximately $423 million at the end of Q1 FY18. During the reported quarter, the Company generated cash from operations of $65 million. As a result of strong cash generation, the Company's Board of Directors approved a share repurchase authorization of up to $100 million.

Outlook

For Q2 FY18, Coherent is forecasting revenues to be in the range of $470 million to $490 million. The Company is estimating non-GAAP gross margin to be in the band of 46% to 49% for the upcoming quarter, while non-GAAP operating margin is expected to be in the range of 25% to 28%.

Stock Performance Snapshot

March 07, 2018 - At Wednesday's closing bell, Coherent's stock climbed 2.56%, ending the trading session at $211.70.

Volume traded for the day: 459.78 thousand shares.

Stock performance in the past twelve-month period ? up 15.27%

After yesterday's close, Coherent's market cap was at $5.27 billion.

Price to Earnings (P/E) ratio was at 29.51.

The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 0.8% at the end of the session.

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