Earnings Labs

Coherent, Inc. (COHR)

Q3 2010 Earnings Call· Fri, Jul 30, 2010

$305.77

+0.59%

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Same-Day

+2.57%

1 Week

+5.19%

1 Month

+0.35%

vs S&P

+4.85%

Transcript

Transcript

Operator

Executives Helene Simonet - Chief Financial Officer, Principal Accounting Officer and Executive VPJohn Ambroseo - Chief Executive Officer, PresidentAnalysts Larry Solow - CJS SecuritiesMark Douglass - Longbow ResearchAjit Pai - Stifel NicolausJiwon Lee - Sidoti & CompanyMark Miller - Noble FinancialOperator Good day, ladies and gentlemen, and welcome to the Coherent third quarter 2010 earnings conference call hosted by Coherent, Inc. At this time, all participants are in a listen-only mode. At the conclusion of our prepared remarks we will conduct a question-and-answer session. (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, [Jenita]. Good afternoon and welcome to Coherent's third 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 and critical accounting policies 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 text of today's prepared remarks, which will include references to historical bookings and sales by market, will be posted on the Coherent investor relations website. A replay of the webcast will be made available for approximately 90 days following the call.Let me start by mentioning that we had another outstanding quarter with record bookings, revenue and operating profits. Our revenue grew 12% sequentially with a corresponding pro forma earnings growth of 48% and a GAAP earnings growth of 70%.We achieved pro forma income of $0.66…