(RTTNews) - Coherent Corp. (COHR) on Wednesday reported a swing to profit in for the third quarter.
Net earnings surged to $191.4 million, or $0.97 per diluted share, compared with a net loss attributable to shareholders of $17.0 million, or $0.11 loss per share in the year-ago quarter.
Adjusted earnings increased to $276.2 million, or $1.41 per share, from $177.2 million, or $0.91 per share, a year ago.
Revenue increased year-over-year to $1.81 billion from $1.50 billion last year.
Gross margin expanded to 37.7% from 35.2% last year.
Looking ahead, Coherent expects fourth-quarter revenue between $1.91 billion and $2.05 billion and adjusted earnings of $1.52 to $1.72 per share.
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