Coherent Inc. (NASDAQ:COHR) Q4 2019 Earnings Conference Call - Final Transcript

Nov 05, 2019 • 04:30 pm ET


Coherent Inc. (NASDAQ:COHR) Q4 2019 Earnings Conference Call - Final Transcript


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Good day and welcome to Coherent's Fourth Quarter and Fiscal Year 2019 Financial Results Conference Call.

All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to introduce Bret DiMarco, Executive Vice President and General Counsel. Please go ahead.

Bret DiMarco

Thank you, Lisa [Phonetic], and good afternoon, everyone. Welcome to today's conference call to discuss Coherent's results from its fourth fiscal quarter and fiscal year ending September 29th, 2019. On the call with me are John Ambroseo, our President and Chief Executive Officer and Kevin Palatnik, our Executive Vice President and Chief Financial Officer.

I would like to remind everyone that some information provided during this call may include forward-looking statements including without limitation, statements about Coherent's future events, anticipated financial results, business trends and the expected timing and benefits, if any, of such trends. These forward-looking statements may contain such words as project, outlook, future, expects, will, anticipates, believes, intends, are referred to as guidance. These forward-looking statements reflect beliefs, estimates, and predictions as of today and Coherent expresses -- it assumes no obligation to update any such forward-looking statements. These forward-looking statements are only predictions and are subject to substantial risks, uncertainties and assumptions that are difficult to predict and may cause actual results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to, risks associated with global demand acceptance and adoption of our products, the worldwide demand for flat panel displays and adoption of OLED for mobile displays, the pricing and availability of OLED displays. The demand for and use of our products in commercial applications, our ability to generate sufficient cash to fund capital spending or debt repayment. Our successful implementation of our customer design wins. Our and our customers' exposure to risks associated with worldwide economic conditions, in particular in China and the Eurozone.

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. 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 products, worldwide government economic policies including trade relations between the United States and China, our ability to integrate the business of Rofin and other acquisitions successfully, manage our expanded operations and achieve anticipated synergies.

Our ability to successfully manage our planned site consolidation projects and other cost reduction programs, and to achieve the related anticipated savings and improved operational efficiencies and other risks identified in the company's SEC filings. For a detailed description of risks and uncertainties, which can impact these forward-looking statements, you should review Coherent's periodic SEC filings, including its most recent Form 10-K, Form 10-Q and Forms 8-K, including the risks identified in today's financial