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Laser and laser-based systems provider Coherent Inc. reported net sales of $1.23 billion and net loss on a GAAP basis of $414.1 million, or $17.18 per diluted share, for the fiscal year ending Oct. 3, 2020. The totals compare to the previous year’s net sales of $1.43 billion and net income on a GAAP basis of $53.8 million, or $2.22 per diluted share.
Coherent posted net income on a non-GAAP basis of $72.6 million for the year, or $3 per diluted share, compared to the prior year net income on a non-GAAP basis of $143.8 million, or $5.92 per diluted share.
For its fourth quarter, the company posted net sales of $316.8 million and net income (GAAP basis) of $7.7 million, or 32 cents per diluted share. The results compare to…READ MORE