COHERENT INC
CIK:0000021510|SEC Filings
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Apr. 02, 2022 |
Apr. 03, 2021 |
Apr. 02, 2022 |
Apr. 03, 2021 |
|
| Income Statement [Abstract] | ||||
| Net sales | $ 370,204 | $ 373,982 | $ 754,711 | $ 700,035 |
| Cost of sales | 215,670 | 232,957 | 432,613 | 439,014 |
| Gross profit | 154,534 | 141,025 | 322,098 | 261,021 |
| Operating expenses: | ||||
| Research and development | 31,679 | 32,007 | 61,448 | 60,228 |
| Selling, general and administrative | 66,517 | 72,662 | 160,291 | 146,890 |
| Merger and acquisition costs | 1,044 | 231,996 | 2,021 | 231,996 |
| Amortization of intangible assets | 563 | 596 | 1,128 | 1,193 |
| Total operating expenses | 99,803 | 337,261 | 224,888 | 440,307 |
| Income (loss) from operations | 54,731 | (196,236) | 97,210 | (179,286) |
| Other income (expense): | ||||
| Interest income | 168 | 110 | 261 | 272 |
| Interest expense | (3,764) | (4,512) | (7,859) | (8,989) |
| Other—net | (2,133) | 1,876 | (4,316) | 3,902 |
| Total other expense, net | (5,729) | (2,526) | (11,914) | (4,815) |
| Income (loss) before income taxes | 49,002 | (198,762) | 85,296 | (184,101) |
| Provision for (benefit from) income taxes | 15,326 | (40,547) | 21,355 | (26,030) |
| Net income (loss) | $ 33,676 | $ (158,215) | $ 63,941 | $ (158,071) |
| Net income (loss) per share: | ||||
| Basic (in USD per share) | $ 1.36 | $ (6.49) | $ 2.60 | $ (6.50) |
| Diluted (in USD per share) | $ 1.35 | $ (6.49) | $ 2.57 | $ (6.50) |
| Shares used in computation: | ||||
| Basic (shares) | 24,708 | 24,389 | 24,625 | 24,326 |
| Diluted (shares) | 24,935 | 24,389 | 24,927 | 24,326 |
Condensed Consolidated Balance Sheets - USD ($) |
Apr. 02, 2022 |
Oct. 02, 2021 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 402,020,000 | $ 456,534,000 |
| Restricted cash | 1,457,000 | 1,527,000 |
| Accounts receivable | 262,956,000 | 249,389,000 |
| Inventories | 417,275,000 | 392,241,000 |
| Prepaid expenses and other assets | 91,884,000 | 79,594,000 |
| Total current assets | 1,175,592,000 | 1,179,285,000 |
| Property and equipment, net | 305,916,000 | 302,613,000 |
| Goodwill | 102,746,000 | 105,261,000 |
| Intangible assets, net | 12,133,000 | 14,740,000 |
| Non-current restricted cash | 6,998,000 | 4,460,000 |
| Other assets | 267,010,000 | 282,571,000 |
| Total assets | 1,870,395,000 | 1,888,930,000 |
| Current liabilities: | ||
| Short-term borrowings and current-portion of long-term obligations | 9,571,000 | 18,395,000 |
| Accounts payable | 106,071,000 | 104,539,000 |
| Income taxes payable | 35,207,000 | 20,991,000 |
| Other current liabilities | 203,114,000 | 238,290,000 |
| Total current liabilities | 353,963,000 | 382,215,000 |
| Long-term obligations | 401,540,000 | 425,800,000 |
| Other long-term liabilities | 180,698,000 | 212,730,000 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Common stock, value | 246,000 | 244,000 |
| Additional paid-in capital | 131,452,000 | 123,135,000 |
| Accumulated other comprehensive loss | (27,069,000) | (20,818,000) |
| Retained earnings | 829,565,000 | 765,624,000 |
| Total stockholders' equity | 934,194,000 | 868,185,000 |
| Total liabilities and stockholders' equity | $ 1,870,395,000 | $ 1,888,930,000 |