Coherent Inc (COHR) released its second quarter results on Wednesday, May 12, 2021. The company reported net earnings of $-6.49 per share for the second quarter ending March 31, 2021. Earnings for this past quarter were up 63 percent compared to the same period a year ago.
Coherent, Inc. was founded in 1966 and is headquartered in Santa Clara, California. Coherent, Inc. provides lasers, laser-based technologies, and laser-based system solutions for a range of scientific, commercial, and industrial research applications. It operates in two segments, OEM Laser Sources and Industrial Lasers & Systems.
Coherent's revenue increased 2 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 42.33% for the second quarter compared to the same period in the previous year, and operating margins increased to 9.56% over the same period. Net earnings for past trailing twelve months were $-159.09 million, up 62% from the prior year.
Moving on to the balance sheet, Coherent's cash levels dropped 4% for the second quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 25.43% this past year. The current ratio for Coherent now stands at 3.19. The company increased shares outstanding by 1.12%.
Shares of COHR are currently trading around $255.83. In terms of valuation, the stock is trading at a price to book ratio of 7.85.