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Coherent Inc. has posted a net loss of $8.7 million for the quarter ending July 4. The company reported a total revenue of $298.3 million for its third quarter, a year-over-year decrease of just over $40 million.
The figure is on a U.S. generally accepted accounting principles (GAAP) basis. Earnings per share for the company also dipped by $0.36.
For its third quarter 2019, Coherent posted net sales of $339.2 million and a net loss of $3.1 million, or $0.13 per share.
The company posted a third-quarter non-GAAP net income of $12.6 million and $0.52 per share. Non-GAAP net income for the third quarter of fiscal 2019 was $32.1 million, or $1.33 per share.
Though Coherent shares have fallen 13% since the start of the…READ MORE