Coherent posts disappointing income

Coherent Inc. (Santa Clara, CA) expects net income for its fourth fiscal quarter, ended September 27, 1997, to be between $0.54 and $0.58 per share--significantly below analysts` expectations of $0.80 per share. Sales are expected to be between $103 million and $104 million, which would be a record high for the company but also less than anticipated. The company said its results were affected by currency exchange rates (more than half of Coherent`s business is outside the USA), pricing pressures

Coherent posts disappointing income

Coherent Inc. (Santa Clara, CA) expects net income for its fourth fiscal quarter, ended September 27, 1997, to be between $0.54 and $0.58 per share--significantly below analysts` expectations of $0.80 per share. Sales are expected to be between $103 million and $104 million, which would be a record high for the company but also less than anticipated. The company said its results were affected by currency exchange rates (more than half of Coherent`s business is outside the USA), pricing pressures on some laser products, increased research and development spending, and the ramp-u¥of its Verdi diode-pumped solid-state-laser.

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