Coherent forecasts upbeat first quarter on robust AI demand

• "We enter fiscal 2027 with exceptional customer demand, expanding production capacity, and multiple new growth platforms beginning to ramp," CEO Jim Anderson said.
• Saxonburg, Pennsylvania-based Coherent forecast first-quarter revenue in the range of $2.2 billion to $2.4 billion, above analysts' estimate of $2.14 billion.
• The company expects first-quarter adjusted profit per share of $1.85 to $2.05, higher than estimates of $1.77 per share.
• In March, Nvidia said it would invest $2 billion in Coherent to support research and development, manufacturing capacity and operations.

• Coherent, which makes optical transceivers and other photonics products that help manage traffic inside data centers, has benefited from growing investment in AI infrastructure.
• Data center and communications, Coherent's largest segment, reported revenue of $1.62 billion in the fourth quarter ended June 30, up from $1.02 billion a year earlier.
• However, revenue at its industrial business segment declined 16% in the quarter. The company also reported sharply lower full-year operating cash flow.
• Meanwhile, overall quarterly revenue of $2.05 billion surpassed analysts' average estimate of $1.99 billion, according to data compiled by LSEG.
• Adjusted profit per share came in at $1.74, beating estimates of $1.61.

Aug 12 (Reuters) - Coherent COHR.N beat estimates for fourth-quarter earnings on Wednesday and forecast first-quarter revenue and profit above analysts' expectations, betting on strong demand for its data center and communications products.