Coherent (COHR) FY2019 results: revenue $1.4 billion, up 17.6% on the year
Coherent Corp. (COHR) reported revenue of $1.4 billion for fiscal 2019, the year ended 30 June 2019, up 17.6% on the year before. Net income was $108 million, up 22.2%, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2019.
Revenue
$1.4 billion
+17.6% on the year
FY2012FY2019
Operating margin
10.9%
11.8% a year earlier
FY2012FY2019
Net income
$108 million
+22.2% on the year
FY2012FY2019
Diluted EPS
$1.63
+20.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,362
1,159
972
+17.6%
Cost of revenue
841
698
584
+20.6%
Gross profit
521
461
388
+13.0%
Gross margin
38.3%
39.8%
40.0%
Research and development
139
117
96.8
+19.1%
Selling, general and administrative
234
209
176
+11.9%
Operating income
149
137
116
+8.7%
Operating margin
10.9%
11.8%
11.9%
Interest expense
22.4
18.4
6.8
+22.2%
Pre-tax income
129
122
119
+5.4%
Income tax
21.3
34.2
23.5
-37.7%
Effective tax rate
16.5%
28.0%
19.8%
Net income
108
88.0
95.3
+22.2%
Net margin
7.9%
7.6%
9.8%
Diluted EPS
$1.63
$1.35
$1.48
+20.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
178
161
119
+10.8%
Capital expenditure
137
153
139
-10.6%
Free cash flow
41.4
7.6
-19.9
+445.8%
Free cash flow margin
3.0%
0.7%
-2.0%
Cash from investing
-224
-285
-177
Cash from financing
4.9
97.0
112
-95.0%
Depreciation and amortisation
92.4
80.8
63.6
+14.4%
Share-based compensation
21.9
15.3
11.8
+43.3%
Buybacks
1.6
49.9
n/a
-96.8%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
66m
65m
65m
+1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,133
1,024
901
+10.6%
Debt
467
439
342
+6.4%
Other liabilities
354
298
235
+18.5%
Total liabilities and equity
1,954
1,762
1,477
+10.9%
Fixed assets
583
525
368
+11.0%
Goodwill
320
271
250
+18.1%
Intangible assets
139
125
134
+11.4%
Cash and equivalents
205
247
272
-17.1%
Receivables
270
215
193
+25.4%
Inventory
296
248
204
+19.3%
Other assets
141
131
56.3
+8.0%
Total assets
1,954
1,762
1,477
+10.9%
10-K for the year ended 30 June 2019, filed 16 August 2019: the filing.