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Coherent CEO Discusses F4Q2010 Results - Earnings Call Transcript

Coherent, Inc. (COHR)

F4Q2010 (Qtr End 10/02/2010) Earnings Call

November 4, 2010 4:30 pm ET

Executives

Helene Simonet - EVP and CFO

John Ambroseo - President and CEO

Analysts

Mark Douglass - Longbow Research

Larry Solow - CJS Securities

Mark Miller - Noble Capital Markets

Ajit Pai - Stifel Nicolaus

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Coherent fiscal quarter four 2010 earnings conference call hosted by Coherent Incorporated. (Operator Instructions) I would now like to introduce Ms. Helene Simonet, Executive Vice President and Chief Financial Officer.

Helene Simonet

Good afternoon and welcome to Coherent's fourth quarter and fiscal year end conference call. On today's call, I will provide financial information and John Ambroseo, our President and CEO, will provide a business overview.

As a reminder, any guidance and any statements in today's conference call pertaining to future guidance, plans, events or performance, are forward-looking statements that involve risks and uncertainties, and actual results may differ significantly. We encourage you to refer to the risk disclosures and critical accounting policies described in the Company's reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by the Company.

The full text of today's prepared remarks, which will include references to historical bookings and sales by market, will be posted on the Coherent Investor Relations website. A replay of the web cast will be made available for approximately 90 days following the call.

Bookings for the quarter were $192.5 million, representing an all-time record for Coherent. We ended the fiscal year with a book-to-bill ratio of 1.16 and a record backlog of $262 million. Net sales for the fourth quarter were $166.4 million, leading to revenues for the full fiscal year of $605.1 million. This is slightly higher than our 2008 revenues and represents a growth of 39% when comparing to last fiscal year.

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