Earnings Labs

Coherent, Inc. (COHR)

Q2 2010 Earnings Call· Mon, May 3, 2010

$302.25

-0.85%

Key Takeaways · AI generated
AI summary not yet generated for this transcript. Generation in progress for older transcripts; check back soon, or browse the full transcript below.

Same-Day

-5.26%

1 Week

-3.78%

1 Month

-8.05%

vs S&P

-0.04%

Transcript

Transcript

Operator

Executives Helene Simonet – EVP and CFOJohn Ambroseo – President and CEOAnalysts Sanjay [ph] – Thomas Weisel PartnersJiwon Lee – Sidoti & Co.Mark Douglass – Longbow ResearchLarry Solow – CJS SecuritiesMark Miller – Noble FinancialOperator Good day, ladies and gentlemen and welcome to the Coherent second quarter 2010 earnings conference call hosted by Coherent, Inc. (Operator Instructions). As a reminder, this call is being recorded.I would now like to introduce Ms. Helene Simonet, Executive Vice President and Chief Financial Officer. You may begin your conference.Helene Simonet Thank you, Adam. Good afternoon. And welcome to Coherent's second quarter conference call. On today's call, I will provide financial information and John Ambroseo, our President and CEO will provide a business overview.As a reminder, any guidance and any statements in today's conference call pertaining to future guidance, plans, events, or performance are forward-looking statements that involve risks and uncertainties and actual results may differ significantly. We encourage you to refer to the risk disclosures described in the company's reports on Forms 10-k, 10-q and 8-k, as applicable and as filed from time to time by the company.The full test of today's prepared remarks, which will include references to historical bookings and sales by market will be on the webcast available for approximately 90 days following the call.Let me first highlight the key accomplishments of the second quarter. As you may already have seen from the press release, we delivered remarkable results this quarter including record bookings and backlog.Our revenues grew 21.4% sequentially and exceeded our guidance and expectations.Earnings more than doubled sequentially on both a GAAP and a pro forma basis. We achieved pro forma income of $0.45 per diluted share compared to a pro forma income of $0.21 per diluted share in the previous quarter and breakeven in the second quarter of…