COHERENT, Inc. Announces Closing of Acquisition of ROFIN-SINAR Technologies

PRESS RELEASE

Editorial Contact: For IMMEDIATE Release:

Kevin Palatnik

(408) 764-4110 November 7, 2016

No. 1396

COHERENT, Inc. Announces Closing of Acquisition of ROFIN-SINAR Technologies

SANTA CLARA, CA – November 7, 2016 – Coherent, Inc. (“Coherent”) (NASDAQ:COHR), a world leader in lasers and laser-based technology for scientific, commercial and industrial customers, today announced the completion of its previously announced acquisition of ROFIN-SINAR Technologies, Inc. (“Rofin”) (NASDAQ:RSTI), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components, for $32.50 per share in cash, in a transaction valued at approximately $942 million. Coherent funded the transaction with a combination of cash on hand and proceeds from a seven year 670 million Euro secured term loan B. As a result of the acquisition, Rofin common stock will no longer trade on the Nasdaq Stock Market and Frankfurt Stock Exchange.

Conference Call and Webcast

Coherent will host a conference call at 4:45 p.m. Eastern (1:45 PM Pacific) on Wednesday, November 9, 2016 to discuss the transaction and to update first quarter fiscal guidance for the combined operations. A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors.

About Coherent

Coherent, Inc. (“Coherent”) (NASDAQ:COHR), a world leader in lasers and laser-based technology for scientific, commercial and industrial customers, today announced the completion of its previously announced acquisition of ROFIN-SINAR Technologies, Inc. (“Rofin”) (NASDAQ:RSTI), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components, for $32.50 per share in cash, in a transaction valued at approximately $942 million. Coherent funded the transaction with a combination of cash on hand and proceeds from a seven year 670 million Euro secured term loan B. As a result of the acquisition, Rofin common stock will no longer trade on the Nasdaq Stock Market and Frankfurt Stock Exchange.

About ROFIN

With 40 years of experience, ROFIN-SINAR Technologies is a leading developer, designer and manufacturer of lasers and laser-based system solutions for industrial material processing applications. The Company focuses on developing key innovative technologies and advanced production methods for a wide variety of industrial applications based on a broad scope of technologies. Prior to the closing of the acquisition, Rofin’s shares traded on the NASDAQ Global Select Market under the symbol RSTI and were listed in Germany in the “Prime Standard” segment of the Frankfurt Stock Exchange under ISIN US7750431022. ROFIN was part of the Standard & Poor’s SmallCap 600 Index and the Russell 2000 Index. Additional information is available on the Company’s home page: www.rofin.com.

Q4 2016 Earnings Release

PRESS RELEASE

Editorial Contact: For IMMEDIATE Release:

Kevin Palatnik

(408) 764-4110 November 2, 2016

No. 1395

Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results
SANTA CLARA, CA, November 2, 2016—Coherent, Inc. (NASDAQ, COHR), a world leader in providing lasers and laser-based technology for scientific, commercial and industrial customers, today announced financial results for its fourth fiscal quarter and fiscal year ended October 1, 2016.

FINANCIAL HIGHLIGHTS
FOURTH FISCAL QUARTER AND FISCAL YEAR DETAILS

For the fourth fiscal quarter ended October 1, 2016, Coherent announced net sales of $248.5 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $30.8 million, or $1.25 per diluted share. These results compare to net sales of $209.6 million and net income of $27.3 million, or $1.10 per diluted share, for the fourth quarter of fiscal 2015.

Non-GAAP net income for the fourth quarter of fiscal 2016 was $40.5 million, or $1.65 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2015 was $31.2 million, or $1.25 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended October 1,2016, July 2, 2016 and October 3, 2015, and for the fiscal years ended October 1, 2016 and October 3, 2015 appear in the financial statements portion of this release under the heading “Reconciliation of GAAP to Non-GAAP net income.”

Net sales for the third quarter of fiscal 2016 were $218.8 million and net income, on a GAAP basis, was $18.7 million, or $0.76 per diluted share. Non-GAAP net income for the third quarter of fiscal 2016 was $26.2 million, or $1.07 per diluted share.

Ending backlog expected to ship in the next 12 months was $605.3 million at October 1, 2016, compared to a backlog of $564.5 million at July 2, 2016 and a backlog of $309.5 million at October 3, 2015.

For the fiscal year ended October 1, 2016, Coherent posted net sales of $857.4 million and net income of $87.5 million, or $3.58 per diluted share, on a GAAP basis compared to the prior year net sales of $802.5 million and net income on a GAAP basis of $76.4 million, or $3.06 per diluted share. For the fiscal year ended October 1, 2016, Coherent posted net income on a non-GAAP basis of $115.9 million, or $4.75 per diluted share, compared to the prior year net income on a non-GAAP basis of $97.1 million, or $3.89 per diluted share.

As previously announced, on March 16, 2016, Coherent entered into a definitive agreement to acquire Rofin-Sinar Technologies, Inc. (“Rofin”), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components. The acquisition will be an all-cash transaction at a price of $32.50 per share of Rofin common stock for a total approximate offer value of $942 million before fees and transaction costs. Pending completion of certain administrative matters, Coherent expects to close its acquisition of Rofin within the first few weeks of November, 2016.

“Coherent had a very strong fourth fiscal quarter that capped a record setting year. Mix and volume were favorably aligned, especially within our FPD business, enabling us to handily exceed the high end of our long-term EBITDA goals. Record backlog and a strong order pipeline have us very well positioned for fiscal 2017,” said John Ambroseo, Coherent’s President and CEO. “We are also pleased to have received clearance from the European Commission to complete the acquisition of Rofin conditional on the divestment of Rofin’s low-power CO2 business in Hull, England.” Ambroseo added. Coherent ended the year with cash, cash equivalents and short term investments of $400.0 million, an increase of $26.4 million from cash, cash equivalents and short term investments of $373.6 million at July 2, 2016.

CONFERENCE CALL REMINDER

The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the Company’s website. A transcript
of management’s prepared remarks can be found at http://www.coherent.com/Investors/.

Summarized statement of operations information is as follows (unaudited, in thousands, except per share data)
(A) Stock-based compensation expense included in operating results is summarized below (all footnote amounts are unaudited, in thousands, except per share data):

Stock-based compensation expense
For the quarters ended Oct. 1, 2016, July 2, 2016 and Oct. 3, 2015, the impact on net income, net of tax was $3,890 ($0.16 per diluted share), $4,101 ($0.17 per diluted share) and $3,253
($0.13 per diluted share), respectively. For the years ended Oct. 1, 2016 and Oct. 3, 2015, the impact on net income, net of tax was $15,261 ($0.63 per diluted share) and $13,985 ($0.56 per diluted share), respectively.

(B) Changes in deferred compensation plan liabilities are included in cost of sales and operating expenses while gains and losses on deferred compensation plan assets are included in other income (expense),
net. Deferred compensation expense (benefit) included in operating results is summarized below:

Deferred compensation expense (benefit)
For the quarters ended Oct. 1, 2016, July 2, 2016 and Oct. 3, 2015, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was income of $1,007, income of $1,867 and expense of $1,467, respectively. For the yearsended Oct. 1, 2016 and Oct. 3, 2015, the impact on other income (expense) net from gain or losses on deferred compensation plan assets was income of $1,988 and expense of $95, respectively.

(C) For the quarter and year ended Oct. 3, 2015, the gain from business combination was $1,316 ($0.05 per diluted share).

(D) For year ended Oct. 3, 2015, the impairment of our investment in SiOnyx, Inc., a private corporation, was $2,017 ($1,274 net of tax ($0.05 per diluted share)).

(E) For the quarters ended Oct. 1, 2016, July 2, 2016 and Oct. 3, 2015, the impact of amortization of intangible expense was $2,249 ($1,554 net of tax ($0.06 per diluted share)), $2,032 ($1,400 net of tax ($0.06 per diluted share)) and
$2,068 ($1,643 net of tax ($0.07 per diluted share)), respectively. For the years ended Oct. 1, 2016 and Oct. 3, 2015, the impact of amortization of intangible expense was $8,450 ($5,824 net of tax ($0.24 per diluted share)) and $8,244 ($6,222 net of tax ($0.25 per diluted share)), respectively.

(F) The quarter ended Oct. 1, 2016 and July 2, 2016 included $3,177 ($2,077 net of tax ($0.08 per diluted share)) and $3,050 ($2,012 net of tax ($0.08 per diluted share)), respectively, of costs related to the recently announced agreement to acquire Rofin. The year ended Oct.1, 2016 included $9,811 ($6,353 net of tax ($0.26 per diluted share)) of costs related to the recently announced agreement to acquire Rofin.

(G) For the quarter and year ended Oct. 3, 2015, the impact of inventory step-up costs related to acquisitions was $579 ($366 net of tax ($0.01 per diluted share)).

(H) For the year ended Oct. 3, 2015, the impact of an accrual related to an ongoing customs audit was $1,315 ($1,289 net of tax ($0.05 per diluted share)).

(I) The years ended Oct. 1, 2016 and Oct. 3, 2015 included $1,221 ($0.05 per diluted share) and $1,118 ($0.04 per diluted share) non-recurring tax benefit from the renewal of the R&D tax credit for fiscal 2015 and fiscal 2014, respectively.

(J) For the quarter and year ended Oct. 1, 2016, the loss on our hedge of the Barclays debt commitment was $2,234 ($1,413 net of tax ($0.06 per diluted share)) and interest expense on the Barclays debt commitment was $1,089 ($754 net of tax ($0.03 per diluted share)).

Summarized balance sheet information is as follows (unaudited, in thousands):

STOCKHOLDERS’ EQUITY
Certain reclassifications have been made to prior year amounts to conform to the current year’s presentation.
Reconciliation of GAAP to Non-GAAP net income (unaudited, in thousands, (other than per share data), net of tax):
FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to the position of the Company for 2017 and the timing of the closing of the Rofin merger. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with any general market recovery, growth in demand for our products, the worldwide demand for flat panel displays, the demand for and use of the Company’s products in commercial applications, our successful implementation of our customer design wins, our and our customers’ exposure to risks associated with worldwide economic conditions, our customers’ ability to cancel long-term purchase orders, the ability of our customers to forecast their own end markets, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers’ ability to accept such shipments, our ability to have our customers qualify our product offerings, worldwide government economic policies, the risk the merger with Rofin may not be completed in a timely manner or at all, the failure to satisfy the conditions to consummation of the merger, the occurrence of any event, change or circumstance that could give rise to termination of the merger agreement, the effect of the announcement of the merger on business relationships, operating result and business generally, challenges and costs of closing, integrating and achieving anticipated synergies, the risk that the proposed merger disrupts current plans and operations and potential employee retention difficulties, risks related to diverting management’s attention from ongoing business operations, the outcome of any legal proceedings that may be instituted related to the merger agreement, and other risks identified in the Company’s and Rofin’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates 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. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific,commercial and industrial customers. Our common stock is listed on the NasdaqGlobal Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the Company’sWeb site at www.coherent.com for product and financial updates

5100 Patrick Henry Dr. . P. O. Box 54980, Santa Clara, California 95056–0980. Telephone (408) 764-4000

Coherent, Inc. Announces Live Webcast of Fourth Quarter and Fiscal Year 2016 Financial Results

PRESS RELEASE

Editorial Contact: For IMMEDIATE Release:

Kevin Palatnik

(408) 764-4110 October 19, 2016

No. 1394

Coherent, Inc. Announces Live Webcast of Fourth Quarter and Fiscal Year 2016 Financial Results

Coherent, Inc.

(Santa Clara, CA, NASDAQ:COHR) today announced that it plans to report fourth quarter and fiscal year 2016 results after market close on November 2, 2016. The Company will host a conference call to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern) on November 2, 2016. A listen-only broadcast of the conference call can be accessed on the Company’s website at www.coherent.com/Investors. For those who are not available to listen to the live broadcast, the call will be archived for approximately three months.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at www.coherent.com for product and financial updates.

Coherent, Inc. to Present at Deutsche Bank 2016 Tech Conf.

Editorial Contact: Kevin Palatnik(408) 764-4110

For Release: 08/31/2016 No. 1394

Coherent, Inc. to Present at the Deutsche Bank Technology Conference

Coherent, Inc. (Santa Clara, CA, Nasdaq: COHR), today announced that its President and Chief Executive Officer, John Ambroseo, and Executive Vice President and Chief Financial Officer, Kevin Palatnik, are scheduled to present at the Deutsche Bank Technology Conference to be held at Encore at Wynn Las Vegas on Wednesday, September 14, 2016, at 4:00 pm PT. A live webcast of the presentation will be available at http://www.coherent.com/Investors.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index.

For more information about Coherent, visit the company’s website at http://www.coherent.com for product and financial updates.

P.O. Box 54980, Santa Clara, California 95054 . Telephone (408) 764-4000

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Reports Q3 FY2016 Result

Editorial Contact: Kevin Palatnik(408) 764-4110

For Release: 07/27/2016 No. 1393

Coherent, Inc. Reports Third Fiscal Quarter Results

SANTA CLARA, CA, July 27, 2016—Coherent, Inc. (NASDAQ, COHR), a world leader in providing lasers and laser-based technology for scientific, commercial and industrial customers, today announced financial results for its third fiscal quarter ended July 2, 2016.

FINANCIAL HIGHLIGHTS
2016
2016
2015
2016
2015
(in millions except per share data)
THIRD FISCAL QUARTER DETAILS

For the third fiscal quarter ended July 2, 2016, Coherent announced net sales of $218.8 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $18.7 million, or $0.76 per diluted share. These results compare to net sales of $188.5 million and net income of $13.3 million, or $0.53 per diluted share, for the third quarter of fiscal 2015.

Non-GAAP net income for the third quarter of fiscal 2016 was $26.2 million, or $1.07 per diluted share. Non-GAAP net income for the third quarter of fiscal 2015 was $20.6 million, or $0.82 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended July 2, 2016, April 2, 2016 and July 4, 2015 and the nine months ended July 2, 2016 and July 4, 2015 appear in the financial statements portion of this release under the heading “Reconciliation of GAAP to Non-GAAP net income.”

Net sales for the second quarter of fiscal 2016 were $199.9 million and net income, on a GAAP basis, was $17.8 million, or $0.73 per diluted share. Non-GAAP net income for the second quarter of fiscal 2016 was $25.3 million, or $1.04 per diluted share.

Ending backlog expected to ship in the next 12 months was $564.5 million at July 2, 2016, compared to a backlog of $469.3 million at April 2, 2016 and a backlog of $305.2 million at July 4, 2015.

As previously announced, on March 16, 2016, we entered into a definitive agreement to acquire Rofin-Sinar Technologies, Inc. (“Rofin”), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components. The acquisition will be an all-cash transaction at a price of $32.50 per share of Rofin common stock for a total approximate offer value of $942 million before fees and transaction costs. The completion of the acquisition is subject to customary closing conditions, including regulatory approvals.

“Demand remained very strong in the third quarter following a record-setting second quarter. As expected, we received significant orders for flat panel annealing lasers including a single order in excess of $100 million. Orders for other FPD processes including film cutting and laser lift-off have also begun to flow. Collectively, these orders demonstrate the value that Coherent is delivering to the FPD industry. We are also very encouraged by continued strength in bioinstrumentation and materials processing. Our OBIS™ portfolio and subsystem solutions have enabled global market share gains in research and clinical flow cytometry. We have also captured several wins with our ultraviolet and ultrafast industrial lasers for metal and non-metal processing,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “We are making steady progress in the acquisition of Rofin-Sinar including clearance by U.S. regulators and approval by Rofin’s shareholders. The European regulatory process is underway and being handled at the European Commission. We continue to expect the transaction to close in the fourth calendar quarter of 2016 as previously announced,” Ambroseo added.

Coherent ended the quarter with cash, cash equivalents and short term investments of $373.6 million, an increase of $12.6 million from cash, cash equivalents and short term investments of $361.1 million at April 2, 2016.

CONFERENCE CALL REMINDER

The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the Company’s website. A transcript of management’s prepared remarks can be found at http://www.coherent.com/Investors.

Summarized statement of operations information is as follows (unaudited, in thousands except per share data):
2016
2016
2015
2016
2015

(A) Stock-based compensation expense included in operating results is summarized below (all footnote amounts are unaudited, in thousands, except per share data):
2016
2016
2015
2016
2015
(B) Changes in deferred compensation plan liabilities are included in cost of sales and operating expenses while gains and losses on deferred compensation plan assets are included in other income (expense) net. Deferred compensation expense (benefit) included in operating results is summarized below:
2016
2016
2015
2016
2015
(C) For the quarter ended July 4, 2015, the impairment of our investment in SiOnyx, Inc., a private corporation, was $2,017 ($1,274 net of tax ($0.05 per diluted share)).

Stock-related compensation expense	Three Months Ended		Nine Months Ended
	July 2,	April 2,	July 4,		July 2,	July 4,
Cost of sales	$	677		$	594		$	664			$	1,876		$	1,937
Research & development	610		610		529			1,646		1,415
Selling, general & administrative	4,402		4,183		3,372			11,299		10,385
Impact on income from operations	$	5,689		$	5,387		$	4,565			$	14,821		$	13,737

For the quarters ended July 2, 2016, April 2, 2016 and July 4, 2015, the impact on net income, net of tax was $4,101 ($0.17 per diluted share), $3,876 ($0.16 per diluted share) and $3,293 ($0.13 per diluted share), respectively. For the nine months ended July 2, 2016 and July 4, 2015, the impact on net income, net of tax was $11,371 ($0.47 per diluted share) and $10,732 ($0.43 per diluted share), respectively.

Deferred compensation expense (benefit)	Three Months Ended		Nine Months Ended
	July 2,	April 2,	July 4,		July 2,	July 4,
Cost of sales	$	69		$	(67	)	$	8			$	35		$	43
Research & development	330		(296	)	24			166		184
Selling, general & administrative	1,619		(1,485	)	174			836		1,200
Impact on income from operations	$	2,018		$	(1,848	)	$	206			$	1,037		$	1,427

For the quarters ended July 2, 2016, April 2, 2016 and July 4, 2015, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was income of $1,867, expense of $1,819 and income of $200, respectively. For the nine months ended July 2, 2016 and July 4, 2015, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was income of $981 and $1,373, respectively.

(D) For the quarters ended July 2, 2016, April 2, 2016 and July 4, 2015, the impact of amortization of intangible expense was $2,032 ($1,400 net of tax ($0.06 per diluted share)), $2,077 ($1,422 net of tax ($0.06 per diluted share)) and $1,960 ($1,432 net of tax ($0.06 per diluted share)), respectively. For the nine months ended July 2, 2016 and July 4, 2015, the impact of amortization of intangible expense was $6,201 ($4,270 net of tax ($0.18 per diluted share)) and $6,176 ($4,579 net of tax ($0.18 per diluted share)), respectively.

(E) The quarter ended July 2, 2016 and April 2, 2016 included $3,050 ($2,012 net of tax ($0.08 per diluted share)) and $3,584 ($2,264 net of tax ($0.09 per diluted share)) of costs related to the recently announced agreement to acquire Rofin. The nine month period ended July 2, 2016 included $6,634 ($4,276 net of tax ($0.18 per diluted share)) of costs related to the recently announced agreement to acquire Rofin.

(F) For the quarter ended July 4, 2015, the impact of an accrual related to an ongoing customs audit was $1,315 ($1,289 net of tax ($0.05 per diluted share)).

(G) The nine months ended July 2, 2016 and July 4, 2015 included $1,221 ($0.05 per diluted share) and $1,118 ($0.04 per diluted share) non-recurring tax benefit from the renewal of the R&D tax credit for fiscal 2015 and fiscal 2014.

Summarized balance sheet information is as follows (unaudited, in thousands):
2016
2015
Certain reclassifications have been made to prior year amounts to conform to the current year’s presentation.

Reconciliation of GAAP to Non-GAAP net income (unaudited, in thousands (other than per share data), net of tax):
2016
2016
2015
2016
2015

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to the strength in bioinstrumentation and materials processing, and the timing of the closing of the Rofin merger. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with any general market recovery, growth in demand for our products, the worldwide demand for flat panel displays, the demand for and use of the Company’s products in commercial applications, our successful implementation of our customer design wins, our and our customers’ exposure to risks associated with worldwide economic conditions, our customers’ ability to cancel long-term purchase orders, the ability of our customers to forecast their own end markets, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers’ ability to accept such shipments, our ability to have our customers qualify our product offerings, worldwide government economic policies, the risk the merger with Rofin may not be completed in a timely manner or at all, the failure to satisfy the conditions to consummation of the merger, the occurrence of any event, change or circumstance that could give rise to termination of the merger agreement, the effect of the announcement of the merger on business relationships, operating result and business generally, challenges and costs of closing, integrating and achieving anticipated synergies, the risk that the proposed merger disrupts current plans and operations and potential employee retention difficulties, risks related to diverting management’s attention from ongoing business operations, the outcome of any legal proceedings that may be instituted related to the merger agreement, and other risks identified in the Company’s and Rofin’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates 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. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the Company’s Web site at www.coherent.com for product and financial updates.

5100 Patrick Henry Dr. . P. O. Box 54980, Santa Clara, California 95056–0980
Telephone (408) 764-4000

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Announces Webcast of Q3 FY2016 Results

Editorial Contact: Kevin Palatnik(408) 764-4110

For Release: 07/14/2016 No. 1392

Coherent, Inc. Announces Live Webcast of Third Quarter Fiscal Year 2016 Results

Coherent, Inc. (Santa Clara, CA, Nasdaq: COHR) today announced that it plans to report third quarter fiscal year 2016 results after market close on July 27, 2016. The Company will host a conference call to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern) on July 27, 2016. A listen-only broadcast of the conference call can be accessed on the Company’s website atwww.coherent.com/Investors. For those who are not available to listen to the live broadcast, the call will be archived for approximately three months.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at www.coherent.com for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Reports Q2 FY2016 Result

Editorial Contact: Kevin Palatnik(408) 764-4110

For Release: 04/28/2016 No. 1391

Coherent, Inc. Reports Second Fiscal Quarter Results

SANTA CLARA, CA, April 28, 2016—Coherent, Inc. (NASDAQ, COHR), a world leader in providing lasers and laser-based technology for scientific, commercial and industrial customers, today announced financial results for its second fiscal quarter ended April 2, 2016.

FINANCIAL HIGHLIGHTS
2016
2016
2015
2016
2015

SECOND FISCAL QUARTER DETAILS

For the second fiscal quarter ended April 2, 2016, Coherent announced net sales of $199.9 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $17.8 million, or $0.73 per diluted share. These results compare to net sales of $203.7 million and net income of $18.4 million, or $0.74 per diluted share, for the second quarter of fiscal 2015.

Non-GAAP net income for the second quarter of fiscal 2016 was $25.3 million, or $1.04 per diluted share. Non-GAAP net income for the second quarter of fiscal 2015 was $23.4 million, or $0.94 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended April 2, 2016, January 2, 2016 and April 4, 2015 appear in the financial statements portion of this release under the heading “Reconciliation of GAAP to Non-GAAP net income.”

Net sales for the first quarter of fiscal 2016 were $190.3 million and net income, on a GAAP basis, was $20.3 million, or $0.84 per diluted share. Non-GAAP net income for the first quarter of fiscal 2016 was $23.9 million, or $0.99 per diluted share.

Ending backlog expected to ship in the next 12 months was $469.3 million at April 2, 2016, compared to a backlog of $370.0 million at January 2, 2016 and a backlog of $315.3 million at April 4, 2015.

As previously announced, on March 16, 2016, we entered into a definitive agreement to acquire Rofin-Sinar Technologies, Inc. (“Rofin”), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components. The acquisition will be an all-cash transaction at a price of $32.50 per share of Rofin common stock for a total approximate offer value of $942 million before fees and transaction costs. The completion of the acquisition is subject to customary closing conditions, including regulatory approvals.

“Coherent is in the very enviable position of having two game-changing opportunities underway. Our market-enabling solution for OLED manufacturing has contributed to record-shattering orders of nearly $500 million in the second fiscal quarter and includes Linebeam 1000, Linebeam 1500 and UV Blade systems. The capacity these tools provide will help drive a market share inversion between today’s LTPS-LCD technology and rigid and flexible OLEDs for mobile display applications. These systems and their long-term service annuity will deliver significant revenue, gross margin and profit dollars to the company,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “We are also very excited by the opportunity to join forces with Rofin, which will greatly enhance our position in materials processing, the world’s largest market for lasers and laser-based tools. An intercompany team is actively engaged on how to best support customers, create revenue and cost synergies and finalize the plan for the first 100 days. We anticipate that the transaction will close within 6-9 months from the original announcement. We believe these opportunities will generate strong cash flow and we intend to use it to aggressively retire the acquisition financing,” Ambroseo added.

Coherent ended the quarter with cash, cash equivalents and short term investments of $361.1 million, an increase of $24.9 million from cash, cash equivalents and short term investments of $336.2 million at January 2, 2016.

CONFERENCE CALL REMINDER

The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the company’s website. A transcript of management’s prepared remarks can be found at http://www.coherent.com/Investors/.

Summarized statement of operations information is as follows (unaudited, in thousands except per share data):
2016
2016
2015
2016
2015
(A) Stock-based compensation expense included in operating results is summarized below (all footnote amounts are unaudited, in thousands, except per share data):
2016
2016
2015
2016
2015
(B) Changes in deferred compensation plan liabilities are included in cost of sales and operating expenses while gains and losses on deferred compensation plan assets are included in other income (expense) net. Deferred compensation expense (benefit) included in operating results is summarized below:
2016
2016
2015
2016
2015
(C) For the quarters ended April 2, 2016, January 2, 2016 and April 4, 2015, the impact of amortization of intangible expense was $2,077 ($1,422 net of tax ($0.06 per diluted share)), $2,092 ($1,448 net of tax ($0.06 per diluted share)) and $2,036 ($1,540 net of tax ($0.06 per diluted share)), respectively. For the six months ended April 2, 2016 and April 4, 2015, the impact of amortization of intangible expense was $4,169 ($2,870 net of tax ($0.12 per diluted share)) and $4,216 ($3,147 net of tax ($0.13 per diluted share)), respectively.

Stock-based compensation expense	Three Months Ended		Six Months Ended
	April 2,	January 2,	April 4,		April 2,	April 4,
Cost of sales	$	594		$	605		$	676			$	1,199		$	1,273
Research & development	610		426		556			1,036		886
Selling, general & administrative	4,183		2,714		3,550			6,897		7,013
Impact on income from operations	$	5,387		$	3,745		$	4,782			$	9,132		$	9,172

For the quarters ended April 2, 2016, January 2, 2016 and April 4, 2015, the impact on net income, net of tax was $3,876 ($0.16 per diluted share), $3,394 ($0.14 per diluted share) and $3,479 ($0.14 per diluted share), respectively. For the six months ended April 2, 2016 and April 4, 2015, the impact on net income, net of tax was $7,270 ($0.30 per diluted share) and $7,439 ($0.30 per diluted share), respectively.

Deferred compensation expense (benefit)	Three Months Ended		Six Months Ended
	April 2,	January 2,	April 4,		April 2,	April 4,
Cost of sales	$	(67	)	$	33		$	21			$	(34	)	$	35
Research & development	(296	)	132		77			(164	)	160
Selling, general & administrative	(1,485	)	702		598			(783	)	1,026
Impact on income from operations	$	(1,848	)	$	867		$	696			$	(981	)	$	1,221

For the quarters ended April 2, 2016, January 2, 2016 and April 4, 2015, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was expense of $1,819, income of $932 and income of $724, respectively. For the six months ended April 2, 2016 and April 4, 2015, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was expense of $887 and income of $1,173, respectively.

(D) The quarter ended April 2, 2016 included $3,584 ($2,264 net of tax ($0.09 per diluted share)) of costs related the recently announced agreement to acquire Rofin.

(E) The quarter ended January 2, 2016 and six months ended April 2, 2016 included $1,221 ($0.05 per diluted share) non-recurring tax benefit from the renewal of the R&D tax credit for fiscal 2015.

Summarized balance sheet information is as follows (unaudited, in thousands):
2016
2015
Certain reclassifications have been made to prior year amounts to conform to the current year’s presentation.

Reconciliation of GAAP to Non-GAAP net income (unaudited, in thousands (other than per share data), net of tax):
2016
2016
2015
2016
2015
FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to revenue, gross margin and profit dollars from our market-enabling solutions and their ability to drive market share inversion between technologies, the timing of the closing of the Rofin merger, the effect the merger with Rofin will have on the Company’s position in materials processing, the ability of the combined company to generate strong cash flow and to aggressively retire acquisition financing. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with any general market recovery, growth in demand for our products, the worldwide demand for flat panel displays, the demand for and use of the Company’s products in commercial applications, our successful implementation of our customer design wins, our and our customers’ exposure to risks associated with worldwide economic conditions, our customers’ ability to cancel long-term purchase orders, the ability of our customers to forecast their own end markets, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers’ ability to accept such shipments, our ability to have our customers qualify our product offerings, worldwide government economic policies, the risk the merger with Rofin may not be completed in a timely manner or at all, the failure to satisfy the conditions to consummation of the merger, the occurrence of any event, change or circumstance that could give rise to termination of the merger agreement, the effect of the announcement of the merger on business relationships, operating result and business generally, challenges and costs of closing, integrating and achieving anticipated synergies, the risk that the proposed merger disrupts current plans and operations and potential employee retention difficulties, risks related to diverting management’s attention from ongoing business operations, the outcome of any legal proceedings that may be instituted related to the merger agreement, and other risks identified in the Company’s and Rofin’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates 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. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

Rofin plans to file with the SEC and mail to its stockholders a Proxy Statement in connection with the merger. Additionally, Rofin will file other relevant materials with the SEC in connection with the Merger. The Proxy Statement will contain important information about the Company, Rembrandt Merger Sub Corp., Rofin, the merger and related matters. Stockholders are urged to read the Proxy Statement carefully when it is available.

Stockholders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by the Company and Rofin through the web site maintained by the SEC at www.sec.gov.

In addition, stockholders will be able to obtain free copies of the Proxy Statement from Rofin by contacting their investor relations department.

The Company and Rofin, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from the stockholders of Rofin in respect of the transactions contemplated by the merger agreement. Information regarding the Company’s directors and executive officers is contained in the Company’s Form 10-K for the year ended October 3, 2015, and its proxy statement filed with the SEC on January 27, 2016. Information regarding Rofin’s directors and executive officers is contained in Rofin’s Form 10-K for the year ended September 30, 2015 and its proxy statement filed with the SEC on February 17, 2016. To the extent holdings of securities by such directors or executive officers have changed since the amounts printed in the proxy statements, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the participants in the solicitation of proxies in respect of the transactions contemplated by the merger agreement and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement to be filed by Rofin and other relevant materials to be filed with the SEC when they become available.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the Company’s Web site at www.coherent.com for product and financial updates.

5100 Patrick Henry Dr. . P. O. Box 54980, Santa Clara, California 95056–0980 . Telephone (408) 764-4000

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Announces Webcast of Q2 FY2016 Results

Editorial Contact: Kevin Palatnik(408) 764-4110

For Release: 04/19/2016 No. 1390

Coherent, Inc. Announces Live Webcast of Second Quarter Fiscal Year 2016 Results

Coherent, Inc. (Santa Clara, CA, Nasdaq: COHR) today announced that it plans to report second quarter fiscal year 2016 results after market close on April 28, 2016. The Company will host a conference call to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern) on April 28, 2016. A listen-only broadcast of the conference call can be accessed on the Company’s website atwww.coherent.com/Investors. For those who are not available to listen to the live broadcast, the call will be archived for approximately three months.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at www.coherent.com for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent Enters into Agreement to Acquire ROFIN-SINAR

Editorial Contact:

For Release: 03/16/2016

No. 1388

COHERENT Enters into Agreement to Acquire ROFIN-SINAR

Creates Stronger, More Diversified Business with Accelerated Innovation and Enhanced Scale

Transaction Valued at Approximately $942 Million, Expected to Be Accretive to EPS in First Full Year Following Close

Conference Call at 2:00 PM Pacific Time Today

SANTA CLARA, CA and PLYMOUTH, MI / Hamburg, Germany – March 16, 2016 – Coherent, Inc. (“Coherent”) (NASDAQ:COHR), a world leader in lasers and laser-based technology for scientific, commercial and industrial customers, and ROFIN-SINAR Technologies, Inc. (“ROFIN”) (NASDAQ:RSTI), one of the world’s leading developers and manufacturers of high-performance industrial laser sources and laser-based solutions and components, today announced that their Boards of Directors have unanimously approved a definitive agreement under which Coherent will acquire ROFIN for $32.50 per share in cash, in a transaction valued at approximately $942 million.

ROFIN is a leader in the development and manufacturing of lasers for laser-based industrial material processing applications. The Company possesses a broad portfolio of innovative technologies and its product offerings include solid-state lasers, fiber lasers, diode lasers as well as an extensive range of pulsed laser products and CO2 lasers, delivering solutions to a global customer base.

“This transaction is aligned with our strategy of increasing our scale and pursuing accretive growth opportunities,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “The combination of Coherent and ROFIN represents a unique opportunity to strengthen Coherent’s position in materials processing. The addition of ROFIN’s complementary portfolio will build on Coherent’s capabilities as a world leader in laser and photonics-based technology and solutions and create meaningful value for our stockholders.”

Ambroseo added, “Both Coherent’s and ROFIN’s customers participate in today’s most demanding markets and together we will be well-positioned to better meet their evolving needs. This combination will create meaningful opportunities for our customers across the globe as we advance the development of technologies while offering them access to the industry’s broadest portfolio of differentiated solutions as well as outstanding application support and customer service.”

“We are delighted to announce this combination, which will deliver significant and immediate value for ROFIN stockholders,” said Peter Wirth, Chairman of ROFIN’s Board of Directors. “It grows out of the successful technological and strategic transformation that ROFIN has been undergoing under the leadership of the Board and management team and the hard work of ROFIN’s many talented professionals to execute our strategic plan.”

Thomas Merk, ROFIN’s President and Chief Executive Officer said, “Coherent and ROFIN are highly complementary both technologically and geographically. Together, we will significantly increase the value we can bring to our customers by creating a better-positioned, highly diversified company with a greater breadth of product offerings and innovation and a comprehensive technology portfolio. Our two companies share similar cultures and we are excited for our customers and employees to benefit from the greater resources and growth prospects that come from being part of a larger organization.”

Ambroseo concluded, “ROFIN has an outstanding employee base and we look forward to welcoming them into the Coherent family. Together, we can accelerate the growth of the ROFIN portfolio based on our proven track record of successfully investing in, integrating and working alongside the businesses we have acquired. Given our shared cultures and focus on customers and innovation, we expect a smooth transition.”

The transaction is expected to be accretive to earnings per share in the first full year following the close. Coherent expects to realize approximately $30 million in annualized run rate synergies within 18 to 24 months post-closing, achieved through increased efficiencies, leveraging the scale of the combined businesses and optimizing the combined R&D portfolio. Additional synergies are expected through accelerated growth from combining the best capabilities from both companies with a presence in over 60 global markets.

Coherent intends to finance the transaction through a combination of cash on hand and fully committed debt financing from Barclays.

The transaction is expected to close within six to nine months, subject to approval by ROFIN stockholders, regulatory approvals in the U.S. and other countries as well as other customary closing conditions.

Advisors

Barclays is acting as financial advisor to Coherent and Wilson Sonsini Goodrich & Rosati PC is acting as legal advisor. Greenhill & Co., LLC is acting as financial advisor to ROFIN, and Norton Rose Fulbright US LLP is acting as legal advisor.

Conference Call and Webcast

The Company will host a conference call today to discuss the transaction at 2:00 PM Pacific (5:00 PM Eastern). A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors/.

A supplemental presentation of information complementary to the information presented in this release and that will be discussed on the conference call will be made available in the Investor Relations section of the Company’s website.

About Coherent

Founded in 1966, Coherent is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the Company’s website at http://www.coherent.com/ for product and financial updates.

About ROFIN

With 40 years of experience, ROFIN-SINAR Technologies is a leading developer, designer and manufacturer of lasers and laser-based system solutions for industrial material processing applications. The Company focuses on developing key innovative technologies and advanced production methods for a wide variety of industrial applications based on a broad scope of technologies. The Company’s shares trade on the NASDAQ Global Select Market under the symbol RSTI and are listed in Germany in the “Prime Standard” segment of the Frankfurt Stock Exchange under ISIN US7750431022. ROFIN is part of the Standard & Poor’s SmallCap 600 Index and the Russell 2000 Index. Additional information is available on the Company’s home page: www.rofin.com.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

RSTI plans to file with the Securities and Exchange Commission (the “SEC”) and mail to its stockholders a Proxy Statement in connection with the Merger. Additionally, RSTI will file other relevant materials with the SEC in connection with the Merger. The Proxy Statement will contain important information about the Company, Rembrandt Merger Sub Corp., RSTI, the Merger and related matters. Stockholders are urged to read the Proxy Statement carefully when it is available.

Stockholders will be able to obtain free copies of the Proxy Statement and other documents filed with the SEC by the Company and RSTI through the web site maintained by the SEC at www.sec.gov.

In addition, stockholders will be able to obtain free copies of the Proxy Statement from RSTI by contacting their investor relations department.

The Company and RSTI, and their respective directors and executive officers, may be deemed to be participants in the solicitation of proxies from the stockholders of RSTI in respect of the transactions contemplated by the Merger Agreement. Information regarding the Company’s directors and executive officers is contained in the Company’s Form 10-K for the year ended October 3, 2015, and its proxy statement filed with the SEC on January 27, 2016. Information regarding RSTI’s directors and executive officers is contained in RSTI’s Form 10-K for the year ended September 30, 2015 and its proxy statement filed with the SEC on February 17, 2016. To the extent holdings of securities by such directors or executive officers have changed since the amounts printed in the proxy statements, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Additional information regarding the participants in the solicitation of proxies in respect of the transactions contemplated by the Merger Agreement and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement to be filed by RSTI and other relevant materials to be filed with the SEC when they become available.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Coherent’s expectations or beliefs concerning future events. Forward looking statements include information concerning possible or assumed future results or operations of Coherent, the expected completion and timing of the transaction, benefits of the transaction, potential synergies and cost savings, the ability of the combined company to drive growth and expand relationships, and other information related to the transaction. Without limiting the foregoing, the words “believe,” “plan,” “expect,” “will,” “forward,” “intend,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, The risk the transaction may not be completed in a timely manner or at all; the failure to satisfy the conditions to consummation of the transaction; the occurrence of any event, change or circumstance that could give rise to termination of the merger agreement; the effect of the announcement of the transaction on Coherent’s business relationships, operating result and business generally; challenges and costs of closing, integrating and achieving anticipated synergies; the risk that the proposed transaction disrupts current plans and operations and potential employee retention difficulties; risks related to diverting management’s attention from ongoing business operations; the outcome of any legal proceedings that may be instituted related to the merger agreement; and other risks identified in Coherent’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates described in Coherent’s reports on Forms 10-K, 10-Q and 8-K, as applicable and as filed from time-to-time by Coherent. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Coherent undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

CONTACTS

Coherent
Joele Frank, Wilkinson Brimmer Katcher
Jed Repko / Kate Beers
415-869-3950
– or –
Matthew Sherman / Joe Millsap
212-355-4449

ROFIN-SINAR
Investor Contact:
ROFIN-SINAR
Katharina Manok
011-49-40-733-63-4256
– or –
734-416-0206

Media Contacts:
Abernathy MacGregor
Mike Pascale / Neil Maitland
212-371-5999
mmp@abmac.com
nam@abmac.com

OPA Delivers Short Pulsewidth and Wide Tuning

Editorial Contact: Joe Henrich4087644000

For Release: 02/15/2016 No. 1384

OPA Delivers Short Pulsewidth and Wide Tuning from Yb Amplifiers

Santa Clara, Calif., February 12, 2016 – The Opera-F is a new optical parametric amplifier (OPA) from Coherent, Inc. (Santa Clara, CA) that delivers wide tuning, high conversion efficiency, and sub-100 fs pulse duration when pumped by the company’s Monaco high performance ytterbium ultrafast amplifier. The signal output of the Opera-F is tunable from 650 nm to 900 nm, and the idler is tunable from 1200 nm to 2500 nm. When pumped by the Monaco at 40 Watts, the Opera-F provides the industry’s highest power (up to 3 Watts) and highest pulse energy (up to 3 µJ) as well as an industry leading 1 MHz maximum pulse repetition rate. These characteristics make it the optimum tunable source for scientific experiments needing high data acquisition rates or a high level of signal averaging.

Ytterbium-based amplifiers feature several advantages over Titanium:Sapphire alternatives, including direct diode pumping and simplified architectures. However, ytterbium amplifiers usually have longer pulsewidths. This difference has been eliminated with the Opera-F, a single-box accessory which includes a non-collinear stage to generate pulsewidths as short as 50 fs, followed by a collinear stage which delivers very broad wavelength tuning. The output wavelength is tuned through software, with no physical adjustment required.

The high power and high repetition rate of the Opera-F are ideal for advanced multiphoton microscopy studies in neuroscience; the high power is a particular advantage for multi-beam imaging setups using a spatial light modulator (SLM). It is equally well-suited to liquid phase pump-probe experiments including solvation mechanics and studies of advanced solid state materials for light harvesting, displays and semiconductor industry.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

High Brightness Taipan HD Lasers

Editorial Contact: Terry Towe4087644000

For Release: 02/12/2016 No. 1386

New High Brightness Taipan HD Lasers Enable Improved Lightshows

Santa Clara, Calif., February 12, 2016 – An expanded series of light show and entertainment lasers from Coherent, Inc. (Santa Clara, CA) enable show designers to produce sophisticated visual displays and effects with increased brightness and better definition. Specifically, the company’s newest Genesis Taipan HD series lasers all offer TEM00 beam characteristics, and are available with powers between 2 and 5W at six standard Taipan wavelengths (460 nm, 480 nm, 488 nm, 532 nm, 577 nm, and 590 nm) matching most of the standard Taipan Multitransverse Mode (MTM) product line. This wide selection of wavelengths enables laser projectors to deliver a full palette of primary colors, plus tinted white and mixed colors, such as D65 white. All Genesis Taipan HD products have the same compact footprint and low electrical/thermal budget as other Taipan lasers, as well as the usual 50 kHz direction modulation, simplifying their integration in existing projectors.

The TEM00 output beam of Taipan HD lasers is critical to their ability to produce sharper displays. Specifically, this type of output delivers the possibility for diffraction limited divergence resulting in the smallest achievable projected spot size, and hence the highest possible brightness. In contrast, most light show lasers generate a so-called multi-transverse mode beam, which produces much larger, irregular and dimmer projected spots or graphics, especially if multiple laser diode emitters or laser sources were used and beam-combined. Preliminary testing indicates 1.8X increase in brightness for the Taipan HD laser over other sources. In addition, their smooth Gaussian beam profile enables white displays with the absolute minimum of color fringing.

All Coherent Genesis Taipan lasers are based on the company’s unique optically pumped semiconductor laser (OPSL) technology. Characterized by scalable power and wavelength as well as high unit to unit consistency, this all solid state technology has been proven to be the most reliable visible laser type anywhere, with tens of thousands of units in the field.

Coherent distributes the Taipan product line via certified integrators only. For more information refer to http://www.coherent.com/products/?1610/Coherent-Certified-Integrators.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Green Nanosecond Lasers Increase Materials Processing

Editorial Contact: Dave Clark4087644000

For Release: 02/12/2016 No. 1380

New Green Nanosecond Lasers Increase Materials Processing Throughput

Santa Clara, Calif., February 12, 2016 – Coherent, Inc. (Santa Clara, CA) has expanded their AVIA family of lasers with new models having green output, and which offer an unmatched combination of power, reliability and compact size for a range of precision materials processing applications. The new AVIA NX products are q-switched, diode-pumped, solid-state lasers that deliver up to 65W of average power at 532 nm from a laser head that measures less than two feet (587 mm) in length. Together with the excellent beam characteristics of the AVIA NX (M²<1.3), this high power creates increased throughput in cutting, drilling, marking and scribing applications.

The extraordinary performance and reduced footprint has been accomplished through an advanced, high efficiency optical pumping approach, as well as by employing the latest microelectronics miniaturization technology. Reliability has been designed into AVIA NX lasers through the use of Highly Accelerated Life Testing (HALT) protocols, which identify failure mechanisms so that they can be designed out. Individual production units are tested using Highly Accelerated Stress Screening (HASS) methods. This stringent testing protocol identifies and eliminates any potential reliability issues with the product prior to shipment, without decreasing their useful life.

AVIA NX lasers are ideal for a wide range of precision processing tasks in microelectronics and solar cell manufacturing. These include cutting and drilling of thin foils and flex materials, silicon micromachining, 3D chip package manufacturing, IC package trimming, ink jet nozzle drilling and solar cell scribing and drilling.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent's New Generation of High Power, Industrial, Picosecon

Editorial Contact: Joris VanNunen+49 6301 3201 3180

For Release: 02/12/2016 No. 1387

Coherent’s New Generation of High Power, Industrial, Picosecond Lasers

Santa Clara, Calif., February 12, 2016 – A new generation of industrial picosecond lasers from Coherent, Inc. (Santa Clara, CA) combine high performance and exceptional reliability in a lower cost platform to make a wide range of precision materials processing economically viable. The HyperRapid NX product range includes 1064 nm output models with pulse energies as high as 250 μJ (typically with 10 ps pulse duration), at repetition rates up to 2 MHz. This enables high throughput processes, including enough power for the beam to be split in order to run multiple, optical trains within one machine. The product line also includes high power models with output at 532 nm and 355 nm.

All HyperRapid NX lasers utilize integrated electronics to produce a highly compact and extremely reliable laser head. Advanced external control and triggering methods enable sophisticated operational capabilities, including burst mode for higher ablation efficiency, and time and energy control of each individual pulse. Also, regardless of wavelength and power, all HyperRapid NX laser heads feature an identical form factor, interface, and beam characteristics to simplify integration, and can even operate from the same power supply and chiller.

HyperRapid NX lasers are intended for a variety of materials processing applications that require high precision, high throughput and a minimal heat affected zone, or which involve materials that are difficult to work using other methods. Key applications include cutting, scribing, drilling and marking of brittle materials, ceramics, polymers and composites for use in microelectronics, display and solar cell fabrication.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

New Tablet Laser Measurement App Delivers Enhanced Ease-of-Use

Editorial Contact: Sean Bergman(503) 454-5700

For Release: 02/12/2016 No. 1381

New Tablet Laser Measurement App Delivers Enhanced Ease-of-Use

Santa Clara, Calif., February 12, 2016 – A new mobile app from Coherent, Inc. (Santa Clara, CA) enables operation of the company’s laser power and energy sensors using a tablet computer, thus delivering an improved user interface and enhanced ease-of-use. Coherent’s new LabMax-Pro Mobile App is compatible with several popular tablet computers running the Android operating system (and having a display screen of 9” diagonal or greater), providing access to a comprehensive suite of laser power and energy measurement capabilities on a state-of-the-art, touchscreen display. These capabilities include instantaneous power reading, pulse shape analysis, beam position, data logging and statistics, as well as the ability to save data files and share them between mobile devices.

The app can be utilized with two different hardware configurations. In the first, the tablet is connected by USB cable to a Coherent LabMax-Pro meter, which works with virtually all of Coherent’s extensive selection of laser power and energy sensors. LabMax-Pro meters are the fastest on the market (continuous sampling at 10 Hz or 20 kHz, or burst sampling at 625 kHz), and the app fully supports these high speed measurements to enable real-time analysis of modulated or pulsed systems. In the second configuration, the tablet is connected by USB cable to one of Coherent’s new PowerMax-Pro USB sensors. These integrate traditional meter functionality within the sensor head cable, allowing a truly “meterless” tablet solution to laser power measurement.

By leveraging the high quality, yet economical, touchscreen displays currently available on the market, Coherent can deliver a powerful and easy to use laser measurement solution at a reduced cost. Compact tablet computers also offer a portable solution for field service personnel who need access to sensor data.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Industrial Femtosecond Green Laser for Superior Materials Proc

Editorial Contact: Michael LaHa4087644000

For Release: 02/12/2016 No. 1383

Industrial Femtosecond Green Laser for Superior Materials Processing

Santa Clara, Calif., February 12, 2016 – Coherent has extended the capabilities of their Monaco family of industrial femtosecond lasers with the first model delivering visible (green) output, thereby enabling superior processing of a wider range of materials. The new Monaco 517 is a fiber-based laser that produces 20 watts at 517 nm, and combines short (<400 fs) pulsewidth and high (20 µJ) pulse energy to generate the high peak intensity needed for precision micromachining of “tough” materials like polymers. Plus, the laser’s MHz pulse repetition rate supports fast throughput. The Monaco 517 is also simple to integrate into any OEM system because its self-contained compact laser head measures only 635 mm x 340 mm x 167mm. Moreover, the monolithic construction of the laser means that optimum alignment is maintained throughout its entire lifetime, thus maximizing its value and utility for end users and OEMs alike.

Green output delivers three key advantages for materials processing in industries like microelectronics and display fabrication. First, it yields a lower ablation threshold than longer wavelengths, thereby expanding the range of materials and thicknesses that can be athermally processed. Next, the shorter wavelength allows smaller focused spots, enabling finer features to be created. Finally, several materials, including important semiconductors, have improved absorption properties in the green, so this wavelength maximizes cutting efficiency and depth control.

The Monaco 517 is ideal for a range of micromachining applications in the semiconductor, flat panel display, solar, and microelectronics industries. It is well-suited for processing metal and non-metal thin films and foils, and for scribing conductive oxides and semiconductors. In addition to processing homogeneous materials, such as glass and metals, the material versatility of the Monaco 517 makes it an optimum tool for drilling, cutting and patterning complex, layered-structures.

Monaco has been developed as part of The Industrial Revolution in Ultrafast Science, which is redefining customer expectations of performance and reliability for laser technology. By employing a rigorous, multifaceted HALT/HASS protocol in the design, engineering, and manufacturing of our ultrafast products, the customer receives a product with certified reliability and performance, irrespective of the intended use. It’s cutting-edge testing for cutting-edge performance.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

High Speed Laser Sensors Now Available in a Lower Cost, “Meteterless" Package

Editorial Contact: Sean Bergman(503) 454-5700

For Release: 02/12/2016 No. 1382

High Speed Laser Sensors Now Available in a Lower Cost, “Meterless” Package

Santa Clara, Calif., February 12, 2016 – With the new PowerMax™ Pro USB/RS, Coherent, Inc. (Santa Clara, CA) brings their unique PowerMax-Pro sensor technology into a “meterless” format, substantially lowering the cost of ownership of this revolutionary, high speed laser power and energy sensor. PowerMax-Pro sensors, first introduced in 2014, utilize a novel, thin-film technology developed by Coherent, which yields a sensor having the broad wavelength sensitivity, dynamic range and laser damage resistance of a thermopile, combined with the response speed of a semiconductor photodiode. PowerMax-Pro sensors are more than one million times faster than conventional thermopile sensors; an ideal solution for fast CW laser power and rise time measurements, full modulated laser characterization, and pulsed laser energy measurements over the 300 nm to 11 µm spectral range.

PowerMax-Pro USB/RS sensors utilize state-of-the-art microelectronics miniaturization techniques to integrate an entire instrument within a USB 2.0 or RS-232 cable. Specifically, this puts all the signal processing and laser power measurement electronics normally contained in a Coherent LabMax standalone meter right into the sensor itself; measurements are enabled simply by connecting the sensor directly to a PC. PowerMax-Pro USB sensors are also compatible with Coherent’s new LabMax-Pro Mobile App, which allows control of the sensor using a tablet running the Android operating system.

PowerMax-Pro USB/RS substantially lower measurement costs by eliminating the need to purchase a standalone meter. They also reduce service costs, since only the single sensor needs to be calibrated, rather than a separate sensor head and the meter electronics. Their unique combination of lower cost and smaller size makes these detectors ideal for OEMs who want to embed power measurement electronics within their own instrumentation, for field service engineers who already carry a laptop computer or tablet, and for operators of computer controlled test benches. These sensors are also useful for general laboratory applications in which experimental data acquisition is performed from a central PC or tablet.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

High Power Violet Lasers Improve Cytometry

Editorial Contact: Dan Callen(503) 454-5700

For Release: 02/12/2016 No. 1385

High Power Violet Lasers Improve Cytometry and Confocal Microscopy Applications

Santa Clara, Calif., February 12, 2016 – A new, high power, ultra-compact, violet laser from Coherent, Inc. (Santa Clara, CA) will provide improved performance for numerous short wavelength applications, including examples in life sciences, where it will enable brighter confocal imaging and faster flow cytometry throughput rates. The OBIS 405 LX provides over 250 mW of power at 405 nm, making it the highest power laser yet offered in this extremely small (70 x 40 x 38 mm, or 2.75 x 1.57 x 1.5 in.) self-contained platform. This plug-and-play, smart laser simplifies integration by offering direct analog and digital modulation capabilities (at up to 150 MHz). Similar to other OBIS LX/LS lasers, this new violet laser is ideal for OEM instrumentation, as well as for end users when partnered with an optional, CDRH compliant (key-activated) remote. Thanks to conservative design headroom, this new laser can be operated at up to 110% of maximum rated power.

OBIS lasers pioneered the plug-and-play concept, in which the laser cavity and all control electronics are contained in a single, compact package, and in which the interface and output configuration is standardized across all models within the product line. This simplifies laser integration, power upgrades, and wavelength additions to multi-laser instruments.

The superior beam quality of OBIS 405 LX makes it ideal for use in confocal microscopy and both multi-laser and single laser applications of flow cytometry. Its output is ideal for exciting traditional dyes, such as Alexa Fluor and Pacifica Blue, as well as the wide variety of Qdots.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent Celebrates Golden Anniversary

Editorial Contact: Paul Ginouves408-764-4650

For Release: 02/04/2016 No. 1379

Coherent Celebrates Golden Anniversary

Santa Clara, Calif., February 4, 2016 – This year marks the 50th anniversary of the founding of Coherent, Inc. (Santa Clara, CA) (Nasdaq: COHR), which has grown from a Palo Alto laundry room startup to become a world leader in laser technology. Attendees at the upcoming Photonics West Exhibition are invited to celebrate this milestone with us at a champagne reception to be held on Tuesday, February 16, from 4pm to 5pm, at the Coherent Booth (#1101).

“Over our company’s 50 year history, we’ve seen the laser mature from a ‘solution in search of a problem’ to a widely used tool, employed in areas as diverse as microelectronics fabrication, biomedicine, scientific research, and heavy industry,” notes Coherent CEO John Ambroseo. “Across all these disciplines, there is a common drive to increase productivity and the quality of results, while simultaneously enabling even more technological advances.”

“I attribute a large part of Coherent’s success to our ability to deliver a broad array of laser technologies in highly optimized, applications-specific formats. By optimized, I’m referring to the performance, reliability and cost of ownership characteristics necessary to make them practical, cost effective tools for use in both production and research environments. This focus on delivering superior performance and reliability has made us a technology leader, and kept us at the forefront of our markets. It’s a remarkable achievement and a lasting testament to the creativity and dedication of our employees, as well as the loyalty of our valued customers across the globe. That said, I am certain that our best years are still ahead of us.”

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Reports Q1 FY2016 Results

Editorial Contact: Leen Simonet(408) 764-4110

For Release: 01/28/2016 No. 1378

Coherent, Inc. Reports First Fiscal Quarter Results Including Record Bookings

SANTA CLARA, CA, January 28, 2016—Coherent, Inc. (NASDAQ, COHR), a world leader in lasers and laser-based technology for scientific, commercial and industrial customers, today announced financial results for its first fiscal quarter ended January 2, 2016.

FINANCIAL HIGHLIGHTS
2016
2015
2014
FIRST FISCAL QUARTER DETAILS

For the first fiscal quarter ended January 2, 2016, Coherent announced net sales of $190.3 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $20.3 million, or $0.84 per diluted share. These results compare to net sales of $200.6 million and net income of $17.4 million, or $0.69 per diluted share, for the first quarter of fiscal 2015.

Non-GAAP net income for the first quarter of fiscal 2016 was $23.9 million, or $0.99 per diluted share. Non-GAAP net income for the first quarter of fiscal 2015 was $21.9 million, or $0.87 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended January 2, 2016, October 3, 2015 and December 27, 2014 appear in the financial statements portion of this release under the heading “Reconciliation of GAAP to Non-GAAP net income.”

Net sales for the fourth quarter of fiscal 2015 were $209.6 million and net income, on a GAAP basis, was $27.3 million, or $1.10 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2015 was $31.2 million, or $1.25 per diluted share.

Record bookings received during the first fiscal quarter ended January 2, 2016 of $273.0 million increased 68.0% from $162.5 million in the same prior year period and increased by 32.9% compared to bookings of $205.4 million in the immediately preceding quarter.

The book-to-bill ratio was 1.43, and ending backlog expected to ship in the next 12 months was $370.0 million at January 2, 2016, compared to a backlog of $309.5 million at October 3, 2015 and a backlog of $295.9 million at December 27, 2014.

“We have recently been highlighting a developing investment cycle in OLED production capacity. A number of orders were placed for our Vyper™ Linebeam systems in December that contributed to record setting quarterly bookings. Order inflow for large format (i.e., Linebeam 1000’s and larger) systems has continued into the current quarter. We are on track to set a new bookings record for the March quarter and we are expecting another tranche of orders in the second half of fiscal 2016,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “We are making incremental capacity investments for system testing and integration in Göttingen, Germany and optics fabrication in Richmond, California that will enable us to meet delivery commitments beginning in the June quarter and running through at least calendar 2017. We believe we can support long-term service needs in our existing refurbishment centers,” Ambroseo added.

Coherent ended the quarter with cash, cash equivalents and short term investments of $336.2 million, an increase of $10.7 million from cash, cash equivalents and short term investments of $325.5 million at October 3, 2015.

CONFERENCE CALL REMINDER

The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the Company’s website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the Company’s website. A transcript of management’s prepared remarks can be found at http://www.coherent.com/Investors/.

Summarized statement of operations information is as follows (unaudited, in thousands except per share data):
2016
2015
2014
(A) Stock-based compensation expense included in operating results is summarized below (all footnote amounts are unaudited, in thousands, except per share data):
2016
2015
2014
(B) Changes in deferred compensation plan liabilities are included in cost of sales and operating expenses while gains and losses on deferred compensation plan assets are included in other expense, net. Deferred compensation expense (benefit) included in operating results is summarized below:
2016
2015
2014
(C) For the quarter ended October 3, 2015, the gain from business combination was $1,316 ($0.05 per diluted share).

Stock-based compensation expense	Three Months Ended
	January 2,		October 3,		December 27,
Cost of sales	$	605			$	593			$	597
Research & development	426			531			330
Selling, general & administrative	2,714			3,371			3,463
Impact on income from operations	$	3,745			$	4,495			$	4,390

For the quarters ended January 2, 2016, October 3, 2015 and December 27, 2014, the impact on net income, net of tax was $3,394 ($0.14 per diluted share), $3,253 ($0.13 per diluted share) and $3,960 ($0.16 per diluted share), respectively.

Deferred compensation expense (benefit)	Three Months Ended
	January 2,		October 3,		December 27,
Cost of sales	$	33			$	(55	)		$	14
Research & development	132			(236	)		83
Selling, general & administrative	702			(1,301	)		428
Impact on income from operations	$	867			$	(1,592	)		$	525

For the quarters ended January 2, 2016, October 3, 2015 and December 27, 2014, the impact on other expense, net from gains or losses on deferred compensation plan assets was income of $932, expense of $1,467 and income of $449, respectively.

(D) For the quarters ended January 2, 2016, October 3, 2015 and December 27, 2014, the impact of amortization of intangibles expense was $2,092 ($1,448 net of tax ($0.06 per diluted share)), $2,068 ($1,643 net of tax ($0.07 per diluted share)) and $2,180 ($1,607 net of tax ($0.06 per diluted share)), respectively.

(E) For the quarter ended October 3, 2015, the impact of inventory step-up costs related to acquisitions was $579 ($366 net of tax ($0.01 per diluted share)).

(F) The quarter ended January 2, 2016 and December 27, 2014, included $1,221 ($0.05 per diluted share) and $1,118 ($0.04 per diluted share) non-recurring tax benefit from the renewal of the R&D tax credit for fiscal 2015 and 2014, respectively.

Summarized balance sheet information is as follows (unaudited, in thousands):
2016
2015
Certain reclassifications have been made to prior year amounts to conform to the current year’s presentation.

Reconciliation of GAAP to Non-GAAP net income (unaudited, in thousands (other than per share data), net of tax):
2016
2015
2014
FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to anticipated bookings for the March quarter and the timing of orders in the second half of fiscal 2016, our ability to meet delivery commitments in the June quarter and running through at least calendar 2017 and our ability to support long-term service needs in our existing refurbishment centers and our intent to make incremental capacity investments in Germany and California. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with, any general worldwide economic recovery, growth in demand for our products (including those which are used in the flat panel display market, including the manufacture of OLED displays), the worldwide demand for flat panel displays (such as OLED), the demand for and use of the Company’s products in commercial applications, our successful implementation of our customer design wins, our and our customers’ exposure to risks associated with worldwide economic conditions, the mix and pricing of our products, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers’ ability to accept such shipments, our ability to successfully integrate our recent acquisition into our operations, our ability to have our customers qualify our product offerings, worldwide government economic policies, our ability to successfully construct incremental capacity at our facilities and other risks identified in the Company’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates 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. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index Index. For more information about Coherent, visit the company’s website at www.coherent.com for product and financial updates.

5100 Patrick Henry Dr. . P. O. Box 54980, Santa Clara, California 95056–0980
Telephone (408) 764-4000

© Copyright Coherent, Inc. 2016 All Rights Reserved

New Laser Line Generator for High Precision Machine Vision

Editorial Contact: Wallace Latimer503-454-5700

For Release: 01/22/2016 No. 1371

New Laser Line Generator for High Precision Machine Vision Applications

Santa Clara, Calif., January 22, 2016 – A new series of laser line generators from Coherent, Inc. (Santa Clara, CA) enables the detection of smaller features in machine vision applications based on triangulation. Specifically, StingRay µFocus (Micro Focus) lasers feature a linewidth that is 40% smaller than standard Coherent StingRay products (at the same working distance), and can achieve focused linewidths as small as 20 µm, thus providing increased spatial resolution and the ability to discern finer details. Based on cost-effective laser diode technology, StingRay µFocus modules are available at wavelengths of 520 nm, 660 nm, 785 nm, and 830 nm, at power levels of up to 200 mW.

StingRay µFocus laser line generators deliver all the same performance and ease of use features as their predecessors. This includes an industry leading line intensity uniformity specification (±5%), which yields increased measurement speed and greater dimensional accuracy. These lasers also support “dynamic line balancing,” which allows for the correction of any intensity bias in configurations where the laser must be used at off axis illumination angles. To further enhance usability, Stingray µFocus lasers include an internal “health monitor” that indicates when a diode is approaching end of life, thus allowing for planned replacement, and avoiding production downtime due to an unexpected failure.

Stingray µFocus lasers are targeted at any machine vision application that requires high precision 3D profiling. This includes numerous uses in microelectronics manufacturing, glass inspection, medical and dental implant production, high precision extrusion and feature alignment in automotive assembly.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index Index. For more information about Coherent, visit the company’s website at http://www.coherent.com/ for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Webcast Q1 2016 Results

Editorial Contact: Leen Simonet(408) 764-4110

For Release: 01/20/2016 No. 1377

Coherent, Inc. Announces Live Webcast of First Quarter Fiscal Year 2016 Results

Coherent, Inc. (Santa Clara, CA, Nasdaq: COHR) today announced that it plans to report first quarter fiscal year 2016 results after market close on January 28, 2016. The Company will host a conference call to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern) on January 28, 2016. A listen-only broadcast of the conference call can be accessed on the Company’s website at www.coherent.com/Investors. For those who are not available to listen to the live broadcast, the call will be archived for approximately three months.

Founded in 1966, Coherent, Inc. is one of the world’s leading providers of lasers and laser-based technology for scientific, commercial and industrial customers. Our common stock is listed on the Nasdaq Global Select Market and is part of the Russell 2000 and Standard & Poor’s MidCap 400 Index Index. For more information about Coherent, visit the company’s website at www.coherent.com for product and financial updates.

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. Reports 4th Quarter and Year-End Results

Editorial Contact: Leen Simonet408-764-4110

For Release: 11/04/2015 No. 1374

Coherent, Inc. Reports Fourth Fiscal Quarter and Year-End Results

SANTA CLARA, CA, November 4, 2015—Coherent, Inc. (NASDAQ, COHR), a world leader in providing photonics based solutions to the commercial and scientific research markets, today announced financial results for its fourth fiscal quarter and fiscal year ended October 3, 2015.

FINANCIAL HIGHLIGHTS
2015
2015
2014
2015
2014
FOURTH FISCAL QUARTER DETAILS

For the fourth fiscal quarter ended October 3, 2015, Coherent announced net sales of $209.6 million and net income, on a U.S. generally accepted accounting principles (GAAP) basis, of $27.3 million, or $1.10 per diluted share. These results compare to net sales of $205.3 million and net income of $19.1 million, or $0.76 per diluted share, for the fourth quarter of fiscal 2014.

Non-GAAP net income for the fourth quarter of fiscal 2015 was $31.2 million, or $1.25 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2014 was $24.2 million, or $0.96 per diluted share. Reconciliations of GAAP to non-GAAP financial measures for the three months ended October 3, 2015, July 4, 2015 and September 27, 2014, and for the years ended October 3, 2015 and September 27, 2014 appear in the financial statements portion of this release under the heading “Reconciliation of GAAP to Non-GAAP net income.”

Net sales for the third quarter of fiscal 2015 were $188.5 million and net income, on a GAAP basis, was $13.3 million, or $0.53 per diluted share. Non-GAAP net income for the third quarter of fiscal 2015 was $20.6 million, or $0.82 per diluted share.

Bookings received during the fourth fiscal quarter ended October 3, 2015 of $205.4 million increased 12.4% from $182.7 million in the same prior year period and increased by 16.3% compared to bookings of $176.7 million in the immediately preceding quarter. The book-to-bill ratio was 0.98, and ending backlog expected to ship in the next 12 months was $309.5 million at October 3, 2015, compared to a backlog of $305.2 million at July 4, 2015 and a backlog of $328.3 million at September 27, 2014.

For the fiscal year ended October 3, 2015, Coherent posted net sales of $802.5 million and net income of $76.4 million, or $3.06 per diluted share, on a GAAP basis compared to the prior year net sales of $794.6 million and net income on a GAAP basis of $59.1 million, or $2.36 per diluted share. Bookings received for the fiscal year ended October 3, 2015 were $765.2 million, compared to $890.5 million in bookings received during fiscal 2014.

“A combination of favorable product mix and lower warranty costs led to outstanding earnings and cash generation in our fourth fiscal quarter,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “From a market perspective, FPD manufacturing remains an important opportunity for fiscal 2016 and beyond. The Q4 delivery of our third Linebeam 1500 system will provide additional capacity for the manufacture of the highest resolution OLED screens. Customers are looking to further increase this capacity as more smartphones move toward OLEDs. This trend could result in substantial ELA orders during fiscal 2016 with deliveries running well into fiscal 2017. Orders will likely shift from Linebeam 750s towards larger formats at or above Linebeam 1000s. Our recent acquisition of our large format optics supplier will help facilitate shipments and reduce costs,” Ambroseo added.

Coherent ended the quarter with cash, cash equivalents and short term investments of $325.5 million, a decrease of $11.3 million from cash, cash equivalents and short term investments of $336.8 million at July 4, 2015, and an increase of $7.2 million from cash, cash equivalents and short term investments of $318.3 million at September 27, 2014.

On January 21, 2015, the Board of Directors authorized a buyback program whereby the Company was authorized to repurchase up to $25.0 million of its common stock from time to time through January 31, 2016. On August 25, 2015, the Board of Directors authorized a buyback program whereby the Company was authorized to repurchase up to $25.0 million of its common stock from time to time through August 31, 2016. During the fourth quarter of fiscal 2015, the Company repurchased and retired outstanding common stock for a total of $50.0 million, completing both programs.

CONFERENCE CALL REMINDER

The Company will host a conference call today to discuss its financial results at 1:30 P.M. Pacific (4:30 P.M. Eastern). A listen-only broadcast of the conference call can be accessed on the company’s website at http://www.coherent.com/Investors/. For those who are not able to listen to the live broadcast, the call will be archived for approximately three months on the company’s website. A transcript of management’s prepared remarks can be found at http://www.coherent.com/Investors/.

Summarized statement of operations information is as follows (unaudited, in thousands, except per share data):
2015
2015
2014
2015
2014
(A) Stock-based compensation expense included in operating results is summarized below (all footnote amounts are unaudited, in thousands, except per share data):
2015
2015
2014
2015
2014
(B) Changes in deferred compensation plan liabilities are included in cost of sales and operating expenses while gains and losses on deferred compensation plan assets are included in other income (expense), net. Deferred compensation expense (benefit) included in operating results is summarized below:
2015
2015
2014
2015
2014
(C) For the quarter and year ended October 3, 2015, the gain from business combination was $1,316 ($0.05 per diluted share).

Stock-based compensation expense		Three Months Ended		Year Ended
		Oct. 3,		July 4,		Sept. 27,		Oct. 3,		Sept. 27,
Cost of sales	$	593		$	664		$	596		$	2,530		$	2,393
Research & development		531			529			507			1,946			2,033
Selling, general & administrative		3,371			3,372			3,587			13,756			14,471
Impact on income from operations	$	4,495		$	4,565		$	4,690		$	18,232		$	18,897

For the quarters ended October 3, 2015, July 4, 2015 and September 27, 2014, the impact on net income, net of tax was $3,253 ($0.13 per diluted share), $3,293 ($0.13 per diluted share) and $3,382 ($0.13 per diluted share), respectively. For the years ended October 3, 2015 and September 27, 2014, the impact on net income, net of tax was $13,985 ($0.56 per diluted share) and $13,654 ($0.54 per diluted share), respectively.

Deferred compensation expense (benefit)		Three Months Ended		Year Ended
		Oct. 3,		July 4,		Sept. 27,		Oct. 3,		Sept. 27,
Cost of sales	$	(55	)	$	8		$	24		$	(13	)	$	143
Research & development		(236	)		24			126			(52	)		622
Selling, general & administrative		(1,301	)		174			651			(100	)		3,571
Impact on income from operations	$	(1,592	)	$	206		$	801		$	(165	)	$	4,336

For the quarters ended October 3, 2015, July 4, 2015 and September 27, 2014, the impact on other income (expense) net from gains or losses on deferred compensation plan assets was expense of $1,467, income of $200 and income of $780, respectively. For the years ended October 3, 2015 and September 27, 2014, the impact on other income (expense) net was expense of $95 and income of $4,317, respectively.

(D) For the quarter ended July 4, 2015 and year ended October 3, 2015, the impairment of our investment in SiOnyx, Inc., a private corporation, was $2,017 ($1,274 net of tax ($0.05 per diluted share)).

(E) For the quarters ended October 3, 2015, July 4, 2015 and September 27, 2014, the impact of amortization of intangibles expense was $2,068 ($1,643 net of tax ($0.07 per diluted share)), $1,960 ($1,432 net of tax ($0.06 per diluted share)) and $2,312 ($1,713 net of tax ($0.07 per diluted share)), respectively. For the years ended October 3, 2015 and September 27, 2014, the impact of amortization of intangibles expense was $8,244 ($6,222 net of tax ($0.25 per diluted share)) and $9,593 ($7,131 net of tax ($0.28 per diluted share)), respectively.

(F) For the quarter and year ended October 3, 2015, the impact of inventory step-up costs related to acquisitions was $579 ($366 net of tax ($0.01 per diluted share)).

(G) For the quarter ended July 4, 2015 and year ended October 3, 2015, the impact of an accrual related to an ongoing customs audit was $1,315 ($1,289 net of tax ($0.05 per diluted share)).

(H) The year ended October 3, 2015 included $1,118 ($0.04 per diluted share) non-recurring tax benefit from the renewal of the R&D tax credit for fiscal 2014.

Summarized balance sheet information is as follows (unaudited, in thousands):
2015
2014

Reconciliation of GAAP to Non-GAAP net income (unaudited, in thousands, (other than per share data), net of tax):
2015
2015
2014
2015
2014
FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, as defined under the Federal securities laws. These forward-looking statements include the statements in this press release that relate to the importance of the FPD market to the Company’s business, demand for the Company’s ELA products and the timing for additional orders and deliveries for such products, the potential shifting of product mix from the Company’s Linebeam 750 product towards larger formats at or above the Company’s Linebeam 1000 product and the impact from the Company’s recent acquisition of its large format optics supplier. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include risks and uncertainties, including, but not limited to, risks associated with any general market recovery, growth in demand for our products, the worldwide demand for flat panel displays, the demand for and use of the Company’s products in commercial applications, our successful implementation of our customer design wins, our and our customers’ exposure to risks associated with worldwide economic conditions, the mix and pricing of our products, our ability to control expenses, the ability of our customers to forecast their own end markets, our ability to accurately forecast future periods, customer acceptance and adoption of our new product offerings, continued timely availability of products and materials from our suppliers, our ability to timely ship our products and our customers’ ability to accept such shipments, our ability to successfully integrate our recent acquisition into our operations, our ability to have our customers qualify our product offerings, our ability to forecast and meet our expenses, worldwide government economic policies and other risks identified in the Company’s SEC filings. Readers are encouraged to refer to the risk disclosures and critical accounting policies and estimates 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. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Founded in 1966, Coherent, Inc. is a world leader in providing photonics based solutions to the commercial and scientific research markets and part of the Standard & Poor’s MidCap 400 Index Index and the Russell 2000. Please direct any questions to Leen Simonet, Chief Financial Officer at 408-764-4110. For more information about Coherent, visit the Company’s Web site at http://www.coherent.com/ for product and financial updates.

5100 Patrick Henry Dr. . P. O. Box 54980, Santa Clara, California 95056–0980 . Telephone (408) 764-4000

© Copyright Coherent, Inc. 2016 All Rights Reserved

Coherent, Inc. to Webcast Q4 & FY2015 Results

Editorial Contact: Leen Simonet(408) 764-4110

For Release: 10/21/2015 No. 1373