Short answer
Coherent Corp (COHR) filed its Q4 2018 10-Q quarterly report on Feb 8, 2019 for the quarter ended Dec 31, 2018.
Coherent Corp Q4 2018 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $342.9M, up 22% YoY from $281.5M, driven by optical communications, RF, power generation and military demand
- Gross margin 38.4% vs 38.9% YoY, pressured by China pricing and lower-margin Photonics mix
- Best segment II-VI Photonics: revenue $159.7M, up 39%; worst II-VI Laser Solutions: revenue $105.6M, up 1%
- Cash $230.3M vs $247.0M at June 30; operating cash flow $88.2M, capital expenditures $74.4M
- Outlook: IR&D expected at 10% to 13% of revenues, with China price erosion, competition and lower-margin mix as headwinds
Risk Factors
- Newly added merger risk: Finisar transaction requires closing conditions, with completion potentially delayed or not occurring
- Most material financial update: Proposed Finisar merger supported by up to $2.425 billion senior secured credit facilities
- Regulatory risk: Finisar merger registration statement became effective February 7, 2019, but remaining closing conditions apply
- Operational risk: CoAdna acquisition added $7.1 million quarterly revenue, with preliminary asset and liability valuations
- Liquidity risk: Existing debt includes $345 million convertible notes due in fiscal year 2023 and $125 million credit-facility borrowing due in fiscal year 2022
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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