Coherent Q2 Loss Narrows; Adj. Income Beats Street View

(RTTNews) - Laser equipment manufacturer Coherent Inc. (COHR) on Wednesday posted second-quarter net loss of $158.2 million or $6.49 per share, compared to net loss of $418.9 million or $17.39 per share in the year-ago quarter.

The 2021 net loss included $179.2 million, net of tax, in merger and acquisition costs, mainly associated with a merger agreement termination fee paid to Lumentum Holdings Inc.

Net income, excluding certain items, was $35.2 million or $1.42 per share, compared to $14.8 million or $0.61 per share in the same period last year.

On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Sales during the three-month period rose to $373.9 million from $293.1 million in the previous-year quarter. Analysts were looking for revenues of $330.1 million during the quarter.