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Coherent, Inc. Reports Second Fiscal Quarter Results


SECOND FISCAL QUARTER DETAILS
For the second quarter of fiscal 2021, Coherent announced net sales of $374.0 million and net loss, on a U.S. generally accepted accounting principles (GAAP) basis, of $158.2 million, or $6.49 per diluted share. The net loss includes $179.2 million, net of tax, in merger and acquisition costs, primarily due to a merger agreement termination fee paid to Lumentum Holdings Inc.
These results compare to net sales of $293.1 million and net loss of $418.9 million, or $17.39 per diluted share, for the second quarter of fiscal 2020 and net sales of $326.1 million and net income of $0.1 million, or $0.01 per diluted share, for the first quarter of fiscal 2021. The net loss for the second quarter of fiscal 2020 includes $424.3 million, net of tax, in non-cash goodwill and other impairment charges, primarily related to the impairment of all goodwill and certain long-lived assets in the Industrial Lasers & Systems segment of our business. ....

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