chanelink logo
CHANELINK
Ελληνικά

Coherent's total fiscal 2023 revenue was $5.16 billion, with laser business accounting for 29 percent

428
2023-08-17 14:45:21
Δείτε τη μετάφραση
On August 16, Coherent, an American laser system solutions provider, announced its fiscal year 2023 and fourth quarter results for the year ended June 30, 2023. This is also the first annual report released after the merger of II-VI and Coherent.

Fiscal year 2023 revenue

Coherent reported revenue of $5.16 billion for the full fiscal year 2023, up 56% year over year.

By business unit, the Networking business unit generated sales of more than $2.3 billion (45%), the Lasers business unit generated less than $1.5 billion (29%), and the Materials (primarily silicon carbide wafers and devices) business unit generated approximately $1.35 billion (26%).

By end-use market, the data communications market was $2.3 billion (45%), industrial $1.76 billion (34%), electronics $626 million (12%), and instrumentation $479 million (9%).

By regional market, North America has the highest market share (about $2.734 billion, accounting for 53%), followed by Europe (about $980 million, accounting for 19%), Japan and South Korea (about $723 million, 14%), China (about $568 million, 11%), and other markets (about $155 million, 3%).
Coherent's fourth quarter revenue

In the fourth quarter of 2023, Coherent's quarterly revenue was $1.205 billion, down 4% year-over-year and 3% sequentially. GAAP net loss of $154 million; GAAP net income was $155 million and non-GAAP net income was $185 million.

In the fourth quarter of fiscal 2023, Coherent Networks segment revenue reached $585 million, an increase of 6% sequentially, driven by strong demand for high-speed transceivers. Laser segment revenue was $333 million, down 9% sequentially as weak demand for display, precision manufacturing and back-end semiconductor capital equipment offset strength in front-end semiconductor and scientific applications. Materials segment revenue was $288 million, down 11% sequentially, primarily due to lower consumer electronics market revenue.

By application market: Data communication market revenue of $570 million (47%); Industrial processing market revenue of $412 million (34%); Electronics market revenue was $106 million (9%) and instruments market revenue was $117 million (10%).

In North America, fourth quarter revenue was $627 million (52%), down 5%, with significant growth in data communications orders offsetting weak demand from some key customers. Europe, at $253 million (21%), was flat sequentially, but continued to experience challenging demand based on macroeconomic uncertainty. China was $133 million (11%), essentially flat sequentially, as business continued to be impacted by the macroeconomic and geopolitical environment. South Korea and Japan were down slightly at $169 million (14 percent).

Situation with backlog orders on hand

Driven by demand for artificial intelligence and machine learning (AI/ML) transceiver devices, Coherent experienced sequential growth in orders in hand and backlog for the first time in the past four quarters.

As of the latest quarter, Coherent had an order backlog of approximately $2.7 billion (up about $100 million from $2.6 billion in Q3), up 5% sequentially. The sequential growth of overall orders exceeded 30%, which became the main driver of the sequential growth of its backlog.

Data communications orders were strong, with the company receiving a large number of AI/ML (Artificial Intelligence and machine Learning) -related 800G data communications transceiver orders in the fourth quarter from Webscale, Cloud, and other companies in these ecosystems, driving growth in the data communications backlog and offsetting declines in demand for traditional low-rate transceivers.

Performance outlook

In the fourth quarter of fiscal 2023, Coherent implemented a restructuring plan that included plant consolidation and closures, as well as the relocation and recertification of certain manufacturing facilities. Coherent expects total savings of $200 million to $300 million in fiscal 2023-2025, with annual savings of $100 million to $125 million by fiscal 2025.

For the first quarter of fiscal 2024 ending September 30, 2023, Coherent currently expects revenue to be in the range of $1 billion to $1.1 billion and non-GAAP diluted earnings per share to be in the range of $0.05 to $0.20.

Coherent believes the main challenge to near-term earnings growth has been macroeconomic weakness. In addition, the company is facing the challenge of some large customers changing their product plans. Finally, parts of the current geopolitical environment are exacerbating macroeconomic challenges. Coherent said these external challenges will continue through at least the first half of fiscal 2024 and possibly into the second half of the year.

Note: The picture in this article is from Coherent financial report

Source: OFweek

Σχετικές προτάσεις

  • New two-photon aggregation technology significantly reduces the cost of femtosecond laser 3D printing

    Scientists at Purdue University in the United States have developed a new type of two-photon polymerization technology. This technology cleverly combines two lasers and utilizes 3D printing technology to print complex high-resolution 3D structures while reducing femtosecond laser power by 50%. It helps to reduce the cost of high-resolution 3D printing technology, thereby further expanding its appl...

    2024-07-05
    Δείτε τη μετάφραση

  • Massachusetts University team achieves new breakthrough in photolithography chip

    Recently, a research team from the University of Massachusetts Amherst has pioneered a new technology that uses laser irradiation on concentric superlenses on chips to generate holograms, thereby achieving precise alignment of 3D semiconductor chips.This research result, published in the journal Nature Communications, is expected to not only reduce the production cost of 2D semiconductor chips, bu...

    2024-11-06
    Δείτε τη μετάφραση

  • Shanghai Optics and Machinery Institute has made progress in femtosecond fiber lasers based on twisted Sagnac interferometer mode locking

    Recently, the research team of the Aerospace Laser Technology and System Department of the Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences, proposed a torsional Sagnac interferometer and applied it to the fiber laser system, realizing mode locking self starting and pulse shaping. The relevant research achievements were published in the Journal of Lightwave Technology u...

    2024-04-22
    Δείτε τη μετάφραση

  • Laser giant announces launch of new fiber laser platform

    Recently, Coherent Corp. announced the launch of the EDGE FL TM high-power fiber laser series, tailored specifically for cutting applications in the machine tool industry. The power levels of the EDGE FL series range from 1.5kW to 20kW, redefining the balance between value and performance to meet the growing demand for high-power, reliable laser sources in fiber laser cutting.With the increasing d...

    2024-10-23
    Δείτε τη μετάφραση

  • Shanghai Microsystems Institute has developed a high-speed photon detector with distinguishable photon numbers

    Recently, Li Hao and You Lixing's team from the Chinese Academy of Sciences Shanghai Institute of Microsystems and Information Technology developed an ultrahigh speed, photon number resolvable optical quantum detector with a maximum count rate of 5GHz and a photon number resolution of 61 by using the sandwich structure superconducting nanowires and multi wires working in parallel. The related rese...

    2024-07-12
    Δείτε τη μετάφραση