Earnings (Loss) Per Share

3 Months Ended

Sep. 30, 2024

Basic earnings (loss) per common share is computed by dividing net earnings (loss) available to the common shareholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted earnings (loss) per common share is computed by dividing the diluted earnings (loss) available to the common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. For the three months ended September 30, 2024 and September 30, 2023, as the Company was in a net loss position, there were no dilutive shares.

Potentially dilutive shares whose effect would have been anti-dilutive are excluded from the computation of diluted earnings (loss) per common share. For the three months ended September 30, 2024 and September 30, 2023, diluted earnings (loss) per share excluded the potentially dilutive effect of the performance and restricted shares, calculated based on the average stock price for each fiscal period, using the treasury stock method, as well as the shares of Coherent Common Stock issuable upon conversion of the Series B Convertible Preferred Stock (under the If-Converted method), as their effects were anti-dilutive.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations (000, except per share data):


	Three Months Ended September 30,
	2024		2023
Numerator
Net earnings (loss) attributable to Coherent Corp.	$	25,887	$	(67,534)

Deduct Series B dividends and deemed dividends	(31,833)		(30,173)
Basic loss available to common shareholders	$	(5,946)	$	(97,707)




Diluted loss available to common shareholders	$	(5,946)	$	(97,707)








Diluted weighted average common shares	153,626		150,328

Basic loss per common share	$	(0.04)	$	(0.65)

Diluted loss per common share	$	(0.04)	$	(0.65)

The following table presents potential shares of common stock excluded from the calculation of diluted net loss per share, as their effect would have been anti-dilutive (000):


	Three Months Ended September 30,
	2024	2023
Common stock equivalents	4,944	2,337


Series B Convertible Preferred Stock	28,563	27,176
Total anti-dilutive shares	33,507	29,513