The 10-second takeaway
For the quarter ended Sep. 29 (Q4), Coherent missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Coherent logged revenue of $188.7 million. The seven analysts polled by S&P Capital IQ hoped for sales of $195.3 million on the same basis. GAAP reported sales were 9.3% lower than the prior-year quarter's $208.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.71. The six earnings estimates compiled by S&P Capital IQ averaged $0.85 per share. GAAP EPS of $0.52 for Q4 were 58% lower than the prior-year quarter's $1.25 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.2%, 210 basis points worse than the prior-year quarter. Operating margin was 8.9%, 650 basis points worse than the prior-year quarter. Net margin was 6.7%, 840 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $200.9 million. On the bottom line, the average EPS estimate is $0.89.
Next year's average estimate for revenue is $836.4 million. The average EPS estimate is $3.88.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 77 members out of 90 rating the stock outperform, and 13 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Coherent a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Coherent is outperform, with an average price target of $62.96.
- Add Coherent to My Watchlist.