chanelink logo
CHANELINK
Português

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

920
2023-08-17 14:45:21
Ver tradução
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

Recomendações relacionadas

  • The technological iteration route of automotive millimeter wave radar chips

    The rapid development of intelligent cars and autonomous driving technology has made millimeter wave radar inconspicuous, and the widespread application of millimeter wave radar has driven the technological evolution of MMIC.From the expensive gallium arsenide (GaAs) process in the early days to the mainstream CMOS and SiGe processes today, and then to the future promising FD-SOI process, the cont...

    2024-12-07
    Ver tradução

  • OPO laser testing optical components

    Optical parametric oscillator laser tests fibers and components to characterize the spectral response of optical components, thereby providing a competitive advantage in the optical industry.OPO lasers have long been used in complex testing and measurement applications, such as mass spectrometry, photoacoustic imaging, and spectroscopy. Now, these "tunable" pulse lasers are being used to facilitat...

    2024-02-20
    Ver tradução

  • 3D printed chocolate: a delicious fusion of innovation and sustainable development

    In the era of sustainable development and cutting-edge technology, the integration of 3D printing and culinary art is not only an innovation, but also a proof of human creativity. Imagine in such a world, your desserts are not just coming out of the kitchen, but carefully designed and printed layer by layer. This is not a glimpse of the distant future, but the reality of today, as developers have ...

    2024-02-19
    Ver tradução

  • Historic Moment! The 100th TruLaser Cell Series 3D Five-Axis Laser Cutting Machine Successfully Rolls Off the Production Line in China

    Driven by the global trend of lightweighting in new energy vehicles (NEVs), TRUMPF has reached a significant milestone in Taicang, Jiangsu—the successful rollout of the 100th TruLaser Cell series 3D five-axis laser cutting machine. This achievement is more than just a numerical breakthrough; it symbolizes the deep integration of German technology with Chinese manufacturing and underscores TRUMPF's...

    03-14
    Ver tradução

  • Trumpf announces four personnel changes

    Recently, global laser giant Germany's Trumpf announced four personnel changes, namely Claudio Santopietro as the head of intelligent factory consulting and automation, Kevin Cuseo as the head of software sales, Julian Schorpp as the product manager for automatic bending products, and Adam Simons as the head of additive manufacturing for Trumpf North America.According to relevant information, Clau...

    2024-11-26
    Ver tradução