5 Stocks that Released Solid Quarterly Earnings

4. Coherent, Inc. (NASDAQ: COHR)

Number of Hedge Fund Holders: 41

Coherent, Inc. (NASDAQ: COHR) on Wednesday announced solid financial results for the third quarter ended July 3. The supplier of lasers and photonics technology earned $1.22 per share, compared to a loss of 36 cents per share in the year-ago quarter.

On an adjusted basis, the company reported earnings of $1.81 per share, ahead of the consensus forecast of $1.71 per share. Revenue came in at $395.76 million, up from $298.33 million in the same period last year.

CEO Andy Mattes expressed his satisfaction with the results. Mattes said:

“We’re pleased to have delivered another quarter of strong financial results with growth sequentially and year over year. In our fiscal third quarter, we grew bookings, revenue, non-GAAP margins and EPS and our book-to-bill was greater than one. In the MicroElectronics end market, we saw broad strength across all sub-markets, Precision Manufacturing orders were also strong, primarily with applications for medical device manufacturing and life science demand continues to keep Instrumentation orders at near record highs.”