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Coherent’s Fiscal Q120 Revenue and Profits Down Y/Y 16.2% and 83.4%, Respectively
February 09, 2020
Coherent, the lone supplier of excimer lasers of 6th Gen fabs, reported fiscal Q120 revenue results, down 16.2% Y/Y to $320.8. Net GAAP income was $5.8 million, down 83.4% Y/Y. "While we continue to monitor the Coronavirus situation, we have assumed a revenue decrease of $20 to $25 million as the impact on our second fiscal quarter outlook," commented CFO Kevin Palatnik. Revenue for fiscal Q2 is expected to be in the range of $290 to $330 million. “CEO Ambroseo noted that statements from OLED display manufacturers already indicated the prospect of much higher levels of product shipment during 2020, and hence that the market situation was encouraging for Coherent. Referring to the Chinese market for components and lasers more generally, Ambroseo commented that Chinese laser manufacturers are sourcing more pump diodes domestically, due to pricing and to either a desire or a central instruction to become independent from Western suppliers. "As optic powers increase, manufacturers will shift along the wavelength of pumps, which currently favors Western diode suppliers," he said. "We have heard from end users that domestic Chinese fiber laser manufacturers are taking share at the 3 kilowatt to 6 kilowatt power level."
February 09, 2020
Coherent, the lone supplier of excimer lasers of 6th Gen fabs, reported fiscal Q120 revenue results, down 16.2% Y/Y to $320.8. Net GAAP income was $5.8 million, down 83.4% Y/Y. "While we continue to monitor the Coronavirus situation, we have assumed a revenue decrease of $20 to $25 million as the impact on our second fiscal quarter outlook," commented CFO Kevin Palatnik. Revenue for fiscal Q2 is expected to be in the range of $290 to $330 million. “CEO Ambroseo noted that statements from OLED display manufacturers already indicated the prospect of much higher levels of product shipment during 2020, and hence that the market situation was encouraging for Coherent. Referring to the Chinese market for components and lasers more generally, Ambroseo commented that Chinese laser manufacturers are sourcing more pump diodes domestically, due to pricing and to either a desire or a central instruction to become independent from Western suppliers. "As optic powers increase, manufacturers will shift along the wavelength of pumps, which currently favors Western diode suppliers," he said. "We have heard from end users that domestic Chinese fiber laser manufacturers are taking share at the 3 kilowatt to 6 kilowatt power level."
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