Coherent Inc. said its normalized net income for the fiscal first quarter ended Jan. 2 was 70 cents per share, compared with the S&P Capital IQ consensus estimate of 89 cents per share.
EPS climbed 19.1% year over year from 59 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.9 million, a gain of 14.5% from $14.8 million in the first quarter ended Dec. 27, 2014.
The normalized profit margin climbed to 8.9% from 7.4% in the year-earlier period.
Total revenue declined 5.2% on an annual basis to $190.3 million from $200.6 million, and total operating expenses declined 7.6% year over year to $163.0 million from $176.3 million.
Reported net income grew 17.1% on an annual basis to $20.4 million, or 84 cents per share, from $17.4 million, or 69 cents per share.
