Coherent COHR shares fell about 6% Thursday even after the optical technology company reported record fiscal fourth-quarter revenue and offered an upbeat view for the year ahead, according to a Thursday press release.
Coherent posted fourth-quarter revenue of $2.05 billion, while non-GAAP earnings reached $1.74 per diluted share. For fiscal 2026, revenue rose 28% on a pro forma basis to $7 billion, marking the first year the company exceeded that level.
Coherent expects fiscal first-quarter 2027 revenue of $2.2 billion to $2.4 billion, with non-GAAP gross margin projected between 39.5% and 41.5%. The company sees adjusted earnings of $1.85 to $2.05 per share. Management also expects quarterly revenue to surpass $3 billion by the end of fiscal 2027.
Coherent said its Datacenter & Communications business represented 79% of fourth-quarter revenue. The company plans to expand capacity, including higher indium phosphide production, while introducing additional optical products. Capital spending reached $556 million in the quarter, as the company continued investing in capacity and research.
