Shares of Coherent Corp. tumbled 17% in after-hours trading Tuesday after the optoelectronics company issued a weaker-than-expected outlook for the quarter and year ahead.
The company anticipates adjusted earnings per share of 5 cents to 20 cents on revenue of $1 billion to $1.1 billion for the fiscal first quarter, it said Tuesday. Analysts tracked by FactSet were modeling 47 cents a share in adjusted earnings along with $1.17 billion in revenue.
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