Coherent Corp. · NYSE:COHR
Coherent — Shareholder Meeting (2004)
14 slides from Coherent's shareholder meeting presentation, May 24, 2004
Slide 1: Coherent
€3 COHERENT. €} COHERENT.
Slide 2: Revenue Mix $412.2 Million (ttm)
Revenue Mix $412.2 Million (ttm) Electro-Optics $337.1 Million 82% 18% Lambda Physik $75.1 Million As of 12/27/03
Slide 3: Electro-Optics
Electro-Optics €} COHERENT.
Slide 4: Revenue by Market $337.1 Million (ttm)
Revenue by Market $337.1 Million (ttm) OEM Components & Instrumentation 27% Materials Processing 15% 18% 32% Microelectronics 8% Scientific Research Graphic Arts & Display & Gov. Programs Q1’04 Bookings Up 33% from Prior Year Period, Up 20% Sequentially As of 12/27/03
Slide 5: Projected 2-Year Market Performance
Projected 2-Year Market Performance Market Key Application Growth Catalysts Vector Microelectronics Via Drilling Smaller Feature Sizes Graphic Arts & Computer-to-Plate Digital Work Display Flow & Environmental Material Non-Metal Yields & Processing Processing Versatility OEM Comp. & Bio-Instrumentat
Slide 6: E.O. Operational Improvements
E.O. Operational Improvements Consolidating Manufacturing from (13 8) Sites Reducing Foot Print by Approximately 30% Outsourced Non-Core Manufacturing Activities e.g. PCBs and Non-Essential Optics E.O. Margins Expected to Improve to the Mid-40’s by End of Fiscal Year 2004 As of 12/27/03
Slide 7: Lambda Physik
Lambda Physik — €3 COHERENT.
Slide 8: Revenue by Market $75.1 Million (ttm)
Revenue by Market $75.1 Million (ttm) 43% Industry 33% Lithography 24% Science/Medicine Q1’04 Bookings Up 41% from Prior Year Period, Up 28% Sequentially As of 12/27/03
Slide 9: Projected 2-Year Market Performance
Projected 2-Year Market Performance Market Key Application Growth Catalysts Vector Industry Flat Panel Displays Consumer Electronics & TV Science/ Ophthalmic Surgery Cost per Medicine Procedure Lithography Semi Lithography ? Execution & Move to 300-mm Wafers >20% 0-10%
Slide 10: Financials
Financials €} COHERENT.
Slide 11: Fiscal Year 2004 Financial Objectives
Fiscal Year 2004 Financial Objectives Profitability Generate Cash from Ongoing Operations Gross Margin Improvement Aggressive Pursuit of R&D Agenda
Slide 12: Balance Sheet Highlights
Balance Sheet Highlights Current Ratio 4.17 : 1 Debt to Equity 0.07 : 1 Total Cash $190.1 Million Cash and Equivalents $136.2 Million Restricted Cash $ 53.9 Million Working Capital $292.4 Million DSO AR 62 Inventory 86 As of 12/27/03
Slide 13: Days Sales Outstanding in Net Inventory
Days Sales Outstanding in Net Inventory Days 250 200 150 Lambda E.O. 100 Company 50 0 Q1'03 Q2'03 Q3'03 Q4'03 Q1'04
Slide 14: Days Sales Outstanding in Net Receivables
Days Sales Outstanding in Net Receivables Days 120 100 80 Lambda 60 E.O. 40 Company 20 0 Q1'03 Q2'03 Q3'03 Q4'03 Q1'04