바카라 게임 Corp. Reports Fiscal 2023 Third Quarter Results

• Revenue of .24 billion, Grew 50% Year-Over-Year
• Organic Revenue Growth of 6% Year-Over-Year
• Backlog of .6 billion, Grew 23% Year-Over-Year
• 바카라 게임ly Operating Cash Flow of 2 million
• GAAP EPS of $(0.24)
• Non-GAAP EPS of >2451_word_end<.58
• Establishes multi-year restructuring plan

PITTSBURGH, May 10, 2023 (GLOBE NEWSWIRE) -- 바카라 게임 Corp. (NYSE:COHR) ("바카라 게임," “We” or the "Company") today reported results for its fiscal 2023 third quarter ended March 31, 2023.

“We posted third 바카라 게임 revenues of .24 billion up 4% year over year on a pro forma basis. Revenue grew 50% on a reported basis compared to Q3 of FY22 and declined 9% sequentially. We were intensely focused on controlling costs, managing cash and continuing our disciplined approach to capital allocation and design wins,” said Dr. Vincent D. Mattera, Jr., Chair and CEO.

“We started the third quarter with optimism based on a strong backlog, but we experienced a sudden and unexpected deceleration in revenues in the second half of the quarter when some of our larger customers requested us to delay scheduled shipments which primarily affected our revenue in the Networking Segment as those customers began adjusting their inventory levels. The solid performance of the Materials Segment, coupled with solid performance of the legacy 바카라 게임 business, now our Lasers Segment, provided diversification and stability by exposing us to multiple and different growth markets.”

Dr. Mattera 바카라 게임ntinued, “Our non GAAP EPS was >2467_word_end<.58, our operating cash flow was 2 million, and we invested half of our million of capital expenditures into our sili바카라 게임n carbide business. We generated million of free cash flow and retired million of debt, 바카라 게임nsistent with our plans for deleveraging.

We have commenced certain restructuring actions and are planning to take additional actions that will run through the end of FY25, as we work to transform the Company. We expect these actions will drive greater scale and focus, resiliency, and lower operating costs. We have completed a rigorous analysis into this plan, a careful consideration of the effects on our people, and we believe that this plan will better position 바카라 게임 to achieve both short and long-term commitments.”

View Fiscal 2023 Third 바카라 게임 Results