Why Coherent Shares Got Crushed Today

Shares of Coherent, Inc. (NASDAQ: COHR) are getting crushed today, down by 23% as of 12:15 p.m. EDT, after the company reported fiscal third-quarter earnings.

The company, which specializes in lasers and laser technologies, generated revenue of $464.1 million in the third quarter, which translated into non-GAAP net income of $83.4 million, or $3.36 per share. On a GAAP basis, the company posted net income of $61.1 million, or $2.46 per share.

Image source: Getty Images.

Source: Fool.com