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Coherent posts 1Q profit

SANTA CLARA, Calif. (AP) _ Coherent Inc. (COHR) on Wednesday reported fiscal first-quarter profit of $41.9 million.

On a per-share basis, the Santa Clara, California-based company said it had profit of $1.67. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were $3.54 per share.

The maker of lasers for commercial and scientific uses posted revenue of $477.6 million in the period.

Coherent shares have declined 12 percent since the beginning of the year. The stock has climbed 54 percent in the last 12 months.


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