chanelink logo
CHANELINK
Français

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

231
2023-08-17 14:45:21
Voir la traduction
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

Recommandations associées

  • The First Operation of Two Color Mode in Infrared Free Electron Laser

    The Fritz Haber Institute of the Max Planck Institute in Berlin has achieved a technological milestone. The infrared free electron laser operates in dual color mode for the first time. This globally unique technology makes it possible to conduct experiments on synchronous dual color laser pulses, opening up new possibilities for research.There are over a dozen free electron lasers worldwide, with ...

    2024-02-18
    Voir la traduction

  • Researchers use spectroscopic methods to characterize ancient Egyptian mining gemstones

    In a recent study published in the journal AIP Advances, researchers used molecular and elemental spectroscopy techniques such as laser induced breakdown spectroscopy (LIBS), Raman spectroscopy, and Fourier transform infrared (FT-IR) spectroscopy to characterize mines in ancient Egypt.In this study, researchers examined various gemstones that can be traced back to the era of the pharaohs. The team...

    2023-08-31
    Voir la traduction

  • The Trends and Challenges of the Metal 3D Printing Industry in 2025

    In the past decade, metal 3D printing technology has experienced rapid development, from the initial production of orthopedic implants to the manufacturing of rocket boosters. This technology has become an indispensable part of multiple key industries. With the advancement of technology and the expansion of the market, we are witnessing the revival of electron beam melting (EBM) technology and the...

    01-21
    Voir la traduction

  • Super-resolution fluorescence microscopy utilizes fluorescent probes and specific excitation and emission programs

    Super-resolution fluorescence microscopy surpasses the diffraction limit of what used to be a barrier by using fluorescent probes and specific excitation and emission programs. Most SR technologies heavily rely on image computation and processing to retrieve SR information. However, factors such as fluorescence group photophysics, chemical environment of the sample, and optical settings may cause ...

    2024-01-23
    Voir la traduction

  • Zhongke Yuchen laser welding technology opens up vast space for the welding process of new energy vehicle motors

    The application of laser welding technology in the welding process of new energy vehicle motors is a typical example of Zhongke Yuchen in many welding cases. The main accessories of the automatic laser welding equipment for new energy vehicle motors are imported products, and the welding process is mature and stable.Motor rotorMotor statorLaser welding of motor stator tapThe circumferential wel...

    2023-10-18
    Voir la traduction