Top-News
Mittwoch,
02.11.2016 21:20
von
PR Newswire
| Aufrufe: 111
Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results
Ein Arzt berät einen Patienten (Symbolbild).
© TommL / Vetta / Getty Images
https://www.gettyimages.de/
PR Newswire
SANTA CLARA, Calif., Nov. 2, 2016
SANTA CLARA, Calif., Nov. 2, 2016 /PRNewswire/ -- Coherent, Inc. (NASDAQ: COHR), a world leader in providing lasers and laser-based technology for scientific, commercial and industrial customers, today announced financial results for its fourth fiscal quarter and fiscal year ended October 1, 2016.
FINANCIAL HIGHLIGHTS
| | Three Months Ended | | Year Ended | ||||||||||||||||
| | Oct. 1, | | July 2, | | Oct. 3, | | Oct. 1, | | Oct. 3, | ||||||||||
| GAAP Results | | | | | | | | | | ||||||||||
| (in millions except per share data) | | | | | | | | | |||||||||||
| Net sales | $ | 248.5 | | | $ | 218.8 | | | $ | 209.6 | | | $ | 857.4 | | | $ | 802.5 | |
| Net income | $ | 30.8 | | | $ | 18.7 | | | $ | 27.3 | | | $ | 87.5 | | | $ | 76.4 | |
| Diluted EPS | $ | 1.25 | | | $ | 0.76 | | | $ | 1.10 | | | $ | 3.58 | | | $ | 3.06 | |
| | | | | | | | | | | ||||||||||
| Non-GAAP Results | | | | | | | | | | ||||||||||
| (in millions except per share data) | | | | | | | | | |||||||||||
| Net income | $ | 40.5 | | | $ | 26.2 | | | $ | 31.2 | | | $ | 115.9 | | | $ | 97.1 | |
| Diluted EPS | $ | 1.65 | | | $ | 1.07 | | | $ | 1.25 | | | $ | 4.75 | | | $ | 3.89 | |
FOURTH FISCAL QUARTER AND FISCAL YEAR DETAILS
For the fourth fiscal quarter ended October 1, 2016, Coherent announced net sales of $248.5 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $30.8 million, or $1.25 per diluted share. These results compare to net sales of $209.6 million and net income of $27.3 million, or $1.10 per diluted share, for the fourth quarter of fiscal 2015.
Non-GAAP net income for the fourth quarter of fiscal 2016 was $40.5 million, or $1.65 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2015 was $31.2 million, or $1.25 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended October 1, 2016, July 2, 2016 and October 3, 2015, and for the fiscal years ended October 1, 2016 and October 3, 2015 appear in the financial statements portion of this release under the heading "Reconciliation of GAAP to Non-GAAP net income."
Net sales for the third quarter of fiscal 2016 were $218.8 million and net income, on a GAAP basis, was $18.7 million, or $0.76 per diluted share. Non-GAAP net income for the third quarter of fiscal 2016 was $26.2 million, or $1.07 per diluted share.
Ending backlog expected to ship in the next 12 months was $605.3 million at October 1, 2016, compared to a backlog of $564.5 million at July 2, 2016 and a backlog of $309.5 million at October 3, 2015.
For the fiscal year ended October 1, 2016, Coherent posted net sales of $857.4 million and net income of $87.5 million, or $3.58 per diluted share, on a GAAP basis compared to the prior year net sales of $802.5 million and net income on a GAAP basis of $76.4 million, or $3.06 per diluted share. For the fiscal year ended October 1, 2016, Coherent posted net income on a non-GAAP basis of $115.9 million, or $4.75 per diluted share, compared to the prior year net income on a non-GAAP basis of $97.1 million, or $3.89 per diluted share.
As previously announced, on March 16, 2016, Coherent entered into a definitive agreement to acquire 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. The acquisition will be an all-cash transaction at a price of $32.50 per share of Rofin common stock for a total approximate offer value of $942 million before fees and transaction costs. Pending completion of certain administrative matters, Coherent expects to close its acquisition of Rofin within the first few weeks of November, 2016.
"Coherent had a very strong fourth fiscal quarter that capped a record setting year. Mix and volume were favorably aligned, especially within our FPD business, enabling us to handily exceed the high end of our long-term EBITDA goals. Record backlog and a strong order pipeline have us very well positioned for fiscal 2017," said John Ambroseo, Coherent's President and CEO. "We are also pleased to have received clearance from the European Commission to complete the acquisition of Rofin conditional on the divestment of Rofin's low-power CO2 business in Hull, England." Ambroseo added.
Coherent ended the year with cash, cash equivalents and short term investments of $400.0 million, an increase of $26.4 million from cash, cash equivalents and short term investments of $373.6 million at July 2, 2016.
CONFERENCE CALL REMINDER
The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the Company's website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the Company's website. A transcript of management's prepared remarks can be found at http://www.coherent.com/Investors/.
Summarized statement of operations information is as follows (unaudited, in thousands, except per share data):
| | | Three Months Ended | | Year Ended | |||||||||||
| | | Oct. 1, | | July 2, | | Oct. 3, | | Oct. 1, | | Oct. 3, | |||||
| | | | | | | | | | | | |||||
| Net Sales | $ | 248,461 | | $ | 218,767 | | $ | 209,622 | | $ | 857,385 | | $ | 802,460 Werbung Mehr Nachrichten zur Coherent Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1  Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News | |
