II-VI: Coherent: Fiscal Q3 Earnings Snapshot

SAXONBURG, Pa. (AP) - SAXONBURG, Pa. (AP) - Coherent Corp. (COHR) on Wednesday reported fiscal third-quarter earnings of $2.5 million. The Saxonburg, Pennsylvania-based company said it had net income of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share. The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share. The Laser and optics manufacturer posted revenue of $1.24 billion in the period, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $1.33 billion. For the current quarter ending in June, Coherent expects its per-share earnings to range from 33 cents to 43 cents. The company said it expects revenue in the range of $1.13 billion to $1.18 billion for the fiscal fourth quarter. Coherent expects full-year revenue in the range of $5.08 billion to $5.15 billion. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COHR at https://www.zacks.com/ap/COHR