Revenue during the quarter surged 111.54 percent to $422.83 million from $199.88 million in the previous year period. Gross margin for the quarter contracted 187 basis points over the previous year period to 42.46 percent. Total expenses were 83.19 percent of quarterly revenues, down from 86.99 percent for the same period last year. This has led to an improvement of 380 basis points in operating margin to 16.81 percent.

Operating income for the quarter was $71.09 million, compared with $26 million in the previous year period.

"Coherent delivered operating results that exceeded the high end of guidance with almost all markets and geographies making contributions. We are seeing unprecedented demand across many of our verticals as we capitalize upon market trends as well as R&D investments made over the last few years. The largest opportunity is in FPD where customers are projecting capacity at the high-end of our model. We will likely make additional capital investments during fiscal 2018 in system test, optics fabrication and depot repair to address the demand. We are also encouraged by the performance of our materials processing business, especially the early traction with high power fiber lasers," said John Ambroseo, Coherent’s president and chief executive officer. "