Coherent, Inc. (COHR) has reported a 12.76 percent rise in profit for the quarter ended Oct. 01, 2016. The company has earned $30.78 million, or $1.25 a share in the quarter, compared with $27.30 million, or $1.10 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $40.47 million, or $1.65 a share compared with $31.25 million or $1.25 a share, a year ago. Revenue during the quarter grew 18.53 percent to $248.46 million from $209.62 million in the previous year period. Gross margin for the quarter expanded 261 basis points over the previous year period to 46.02 percent. Total expenses were 80.67 percent of quarterly revenues, down from 83.01 percent for the same period last year. This has led to an improvement of 235 basis points in operating margin to 19.33 percent.
Operating income for the quarter was $48.04 million, compared with $35.61 million in the previous year period.
"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 chief executive officer. "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.
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