Coherent Corp. announced financial results for its fiscal third quarter ended March 31, 2025, reporting revenues of $1.50 billion, a 24% increase year-over-year. The company posted GAAP net income of $0.44 per diluted share and non-GAAP net income of $0.91 per diluted share.
The company achieved a GAAP gross margin of 35.2%, a 491 basis point increase year-over-year, and a non-GAAP gross margin of 38.5%, up 490 basis points. These improvements were attributed to higher revenue volume, pricing optimization, cost reductions, and manufacturing yield improvements.
Coherent paid down $136 million in debt during the quarter, reducing its debt leverage ratio to 2.1 times. For the fourth quarter of fiscal 2025, the company expects revenue between $1.425 billion and $1.575 billion, with non-GAAP EPS between $0.81 and $1.01, driven by continued strength in AI-related demand.
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