Coherent lowers revenue outlook, to close facility (AP)

Monday October 13, 8:34 am ET Coherent lowers 4th-quarter revenue guidance, plans to close Munich, Germany, facility SANTA CLARA, Calif. (AP) -- Coherent Inc., which makes lasers for commercial and scientific uses, lowered its fourth-quarter revenue guidance on Monday and said it will close a facility in Munich, Germany. For the quarter ended Sept. 27, Coherent now expects revenue of $141 million to $142.5 million, down from prior guidance of $154 million to $157 million. The company blamed the lower estimates mainly on delivery timing and lower orders, mostly from the microelectronics market. Coherent also said it will consolidate operations of its Munich site into those of its Goettingen, Germany facility. The transfer,... [read full story]