Welcome to our dedicated page for Coherent news (Ticker: COHR), a resource for investors and traders seeking the latest updates and insights on Coherent stock.
Coherent Corp. (NYSE: COHR) delivers cutting-edge solutions in engineered materials, photonics, and laser technologies that power innovation across AI infrastructure, electric vehicles, and life sciences. This dedicated news hub provides investors and industry professionals with essential updates on the company’s strategic developments.
Access real-time press releases covering financial results, product launches like the ARM FL20D fiber laser, and partnerships advancing semiconductor manufacturing. Track milestones in silicon carbide wafer production, renewable energy initiatives, and breakthroughs in medical laser applications.
Our curated collection features earnings reports, R&D announcements, and operational updates from COHR’s global facilities. Discover how the company’s vertical integration model drives advancements in 5G networking components, EV power electronics, and sustainable manufacturing processes.
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Coherent Corp. (Nasdaq: COHR) announced the launch of its I-Temp micro-pump lasers designed for harsh environments in broadband optical access networks. These lasers operate within a temperature range of -40 to 85 degrees Celsius and consume less than 2 W of power while maintaining a steady output of 400 mW. They are ideal for installations in confined spaces, such as utility poles, where equipment must be resilient to extreme weather. Coherent will showcase these innovations at ECOC 2022 in Switzerland.
Coherent Corp. (Nasdaq: COHR) secured a DARPA contract to develop coherent optical transceiver technology for the Space-Based Adaptive Communications Node (Space-BACN) program. This initiative aims to establish low-cost, high-speed laser data links for communication between various LEO satellite constellations. Coherent will design and fabricate transceivers that support multiple optical waveforms at data rates up to 100 Gbps, while adhering to stringent size, weight, power, and cost constraints. This contract follows Coherent's successful participation in Phase 0 of the program.
Coherent, Inc. (NASDAQ: COHR) reported financial results for Q2 FY2022, with net sales of $370.2 million and a net income of $33.7 million, or $1.35 per diluted share. This marks a decline in sales from $374.0 million in Q2 FY2021, while net income rebounded from a loss of $158.2 million. Non-GAAP net income was $42.5 million, or $1.70 per diluted share, an increase from $35.2 million in Q2 FY2021. Coherent faced merger-related costs impacting past results but showed improvement in operating income amidst declining sales.
Coherent, Inc. (NASDAQ: COHR) reported Q1 fiscal 2022 results with net sales of $384.5 million and GAAP net income of $30.3 million ($1.21 per diluted share). Compared to Q1 fiscal 2021, net sales increased from $326.1 million, with net income significantly up from $0.1 million. Non-GAAP net income reached $57.7 million ($2.32 per diluted share), marking a 31% increase from the previous quarter. The company also noted a robust backlog and expects its merger with II-VI to finalize by mid-2022, pending approvals from South Korea and China.
Coherent, Inc. (COHR) reported Q4 fiscal 2021 results with net sales of $391.7 million, and a GAAP net income of $21.1 million or $0.85 per diluted share. This reflects a year-over-year sales increase of 23.6% from $316.8 million in Q4 FY20. For the fiscal year, net sales reached $1,487.5 million with a GAAP net loss of $106.8 million, improving from a loss of $414.1 million in FY20. Non-GAAP net income for FY21 was $150.8 million, or $6.10 per diluted share, up from $72.6 million.
Coherent, Inc. (NASDAQ: COHR) reported Q3 fiscal 2021 results showcasing net sales of $395.8 million, up from $298.3 million year-over-year. The company posted a GAAP net income of $30.3 million or $1.22 per diluted share, a substantial recovery from a net loss of $8.7 million in Q3 2020. Non-GAAP net income reached $44.9 million with an EPS of $1.81. Bookings and revenue continue to grow, driven by strength in MicroElectronics and Precision Manufacturing sectors. Coherent aims to finalize its acquisition with II-VI Incorporated by early 2022.
Coherent, Inc. (NASDAQ: COHR) reported its second fiscal quarter results for 2021, with net sales of $374 million, an increase from $293 million in Q2 2020. However, the company faced a net loss of $158.2 million or $6.49 per diluted share, largely due to $179.2 million in merger costs. Non-GAAP net income was $35.2 million or $1.42 per diluted share, a significant improvement from $14.8 million in Q2 2020. Coherent continues to see strong demand in precision manufacturing, particularly in EV battery welding applications.
Coherent, Inc. has accepted an acquisition proposal from II-VI Incorporated, deemed a "Company Superior Proposal" over Lumentum Holdings. Coherent's board evaluated both proposals and opted to terminate the merger agreement with Lumentum, incurring a $217.6 million termination fee. Under the new agreement with II-VI, each Coherent share will convert to $220 in cash and 0.91 shares of II-VI stock. The deal awaits stockholder and regulatory approval, with closing expected in Q4 2021.
Lumentum Holdings Inc. announced the termination of its merger agreement with Coherent, Inc., which requires Coherent to pay a $217.6 million termination fee. Coherent's Board opted for an inferior offer from II-VI Incorporated, whose proposal was valued at $281.21, compared to Lumentum's superior bid worth $283.12. Lumentum's offer included $230 in cash and stock, while II-VI's consisted of $220 in cash and shares. The news emphasizes Lumentum's commitment to pursuing strategic acquisitions amid competitive offers.
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