In announcing its financial results for its first fiscal quarter, laser photonics specialist, Coherent, highlighted that it has received approximately US$22 million in new purchase orders for its laser based tools for solar cell processing, during the quarter. The company said that its second quarter revenue guidance includes approximately US$8 million from the solar production systems order. Coherent guided second quarter revenue of between US$135 to US$140 million representing a 10% to 14% sequential increase from first quarter revenue of US$122.8 million.
“We are particularly pleased with orders of approximately $22 million for our ‘Coherent Equinox’ solar production tools, which are scheduled for delivery during fiscal 2010,” said John Ambroseo, Coherent’s President and Chief Executive Officer. “Given our backlog and outlook, we are raising our fiscal 2010 projection for net sales to US$525 to US$550 million. To achieve this targeted range, we are ramping production capacity and unwinding the temporary cost containment measures implemented during fiscal 2009.”
Ambroseo noted in a conference call with financial analysts that its partnering with several leading solar manufactures was starting to pay-off, especially within the area of optical-to-electrical conversion efficiency enhancements.