<SEC-DOCUMENT>0001193125-24-132588.txt : 20250122
<SEC-HEADER>0001193125-24-132588.hdr.sgml : 20250122
<ACCEPTANCE-DATETIME>20240507074525
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-24-132588
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20240507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COHERENT CORP.
		CENTRAL INDEX KEY:			0000820318
		STANDARD INDUSTRIAL CLASSIFICATION:	OPTICAL INSTRUMENTS & LENSES [3827]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				251214948
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		375 SAXONBURG BLVD
		CITY:			SAXONBURG
		STATE:			PA
		ZIP:			16056
		BUSINESS PHONE:		724-352-4455

	MAIL ADDRESS:	
		STREET 1:		375 SAXONBURG BLVD
		CITY:			SAXONBURG
		STATE:			PA
		ZIP:			16056

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	II-VI INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="33%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="34%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g835491g0506014235009.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Coherent Corp.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">375 Saxonburg Blvd.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Saxonburg, PA 16056-9499</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">USA</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Via EDGAR </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May&nbsp;7, 2024 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Nudrat Salik and Mr.&nbsp;Terence O&#146;Brien </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Industrial Applications and Services </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100
F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Re: COHERENT CORP. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the Period Ended December&nbsp;31, 2023 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">8-K</FONT> Filed February&nbsp;5, 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;001-39375</FONT></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms. Salik and Mr. O&#146;Brien: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">We are
providing this letter in response to the comments of the staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) contained in your letter dated April&nbsp;9, 2024 regarding the above referenced filings
made by Coherent Corp. (the &#147;Company&#148;). Set forth below are the Staff&#146;s comments and our responses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><U>Form <FONT
STYLE="white-space:nowrap">8-K</FONT> Filed February&nbsp;5, 2024 </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><U>Exhibit 99.2, page 35 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">COMMENT NO. 1: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">In regard to the
adjustment labeled Integration, site consolidation and other, which is included in your determination of multiple <FONT STYLE="white-space:nowrap">non-GAAP</FONT> measure amounts, please address the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Please provide us, and confirm that you will expand your disclosures to include, a breakdown of each component
that is included in this line item with the corresponding amount. Please ensure that your breakdown also includes the specific components of integration costs. Please explain to us how you determined that these components are appropriate based on
the guidance in Question 100.01 of the Division&#146;s Compliance&nbsp;&amp; Disclosure Interpretations on <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">You have characterized certain amounts included in this adjustment as
<FONT STYLE="white-space:nowrap">one-time.</FONT> Please tell us how you concluded that this characterization is appropriate, as it appears some of the components may be normal, recurring type costs and/or span multiple periods presented. Refer to
Question 102.03 of the Division&#146;s Compliance&nbsp;&amp; Disclosure Interpretations on <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">RESPONSE: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company
respectfully acknowledges the Staff&#146;s comment. Our future filings will include a breakdown of each component that is included in this line item with the corresponding amount within the footnote to the reconciliation of operating income (loss)
on a GAAP basis to operating income on a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">With respect to our <FONT
STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> filed February&nbsp;5, 2024, we are providing the following information. Integration, site consolidation and other of $41.9&nbsp;million recorded in operating income on a
<FONT STYLE="white-space:nowrap">non-GAAP</FONT> basis for the three months ended December&nbsp;31, 2023 included: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$16.5&nbsp;million of consulting costs related to projects to integrate recent acquisitions into common
information technology systems and simplify the legal entity structure; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$11.3&nbsp;million of manufacturing inefficiencies related to sites that are being shut down as part of our
2023 Restructuring Plan and Synergy and Site Consolidation Plan; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$4.3&nbsp;million of overlapping labor and travel and $1.9&nbsp;million of accelerated depreciation for a site
in scope of our Synergy and Site Consolidation Plan; </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="42%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-RIGHT:1px solid #000000; padding-left:8pt">coherent.com&#8195;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&#8194;T. +1 724 352 4455</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">1</TD></TR></TABLE>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$4.1&nbsp;million of employee severance and retention costs for site consolidations included in our Synergy
and Site Consolidation Plan; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">$2.8&nbsp;million in direct damages related to a power interruption at a manufacturing facility;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">and $1.0&nbsp;million in inventory write-offs for a product that is <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">end-of-life.</FONT></FONT> </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">To provide additional information for the Staff, the Integration,
site consolidation and other of $41.9&nbsp;million recorded in operating income on a <FONT STYLE="white-space:nowrap">non-GAAP</FONT> basis for the three months ended December&nbsp;31, 2023 are reported in our Condensed Statement of Earnings (Loss)
as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="justify">


<IMG SRC="g835491g0506014234705.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">We determined that the Integration, site consolidation and other costs discussed above are appropriate
based on the guidance in Question 100.01 of the Division&#146;s Compliance&nbsp;&amp; Disclosure Interpretations on <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures, as they are costs related to the integration of our acquisition
of Coherent, Inc. including costs related to the design of integrated information technology systems, costs related to the Company&#146;s exit from certain product lines or facilities as part of the related footprint rationalization initiatives and
costs associated with reduction in the Company&#146;s workforce as a result of our efforts to consolidate sites. The Company&#146;s disclosure of these costs is intended to highlight costs that are not ongoing, and are incurred as a direct result of
the acquisition of Coherent, Inc. and its integration in the Company, as well as other costs related to shutting down sites. The Company believes excluding these discrete integration costs from its <FONT STYLE="white-space:nowrap">non-GAAP</FONT>
measures provides investors with meaningful and helpful information to evaluate the Company&#146;s operating results relative to prior periods and the Company&#146;s competitors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">We characterized retention and severance costs included in this adjustment as <FONT STYLE="white-space:nowrap">one-time</FONT> costs. Upon
further consideration, we will prospectively amend the footnote to not characterize the retention and severance costs included in this adjustment as <FONT STYLE="white-space:nowrap">one-time</FONT> costs as we recognize that, despite being <FONT
STYLE="white-space:nowrap">non-recurring</FONT> in nature, these costs span multiple periods presented and for other reasons as the Staff has advised in its releases and guidance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">As an example of the revised footnote addressing the above comments, the Company will provide a comment similar to the following in comparable
documents filed or furnished as exhibits to future Form <FONT STYLE="white-space:nowrap">8-K</FONT> filings, beginning with the Form <FONT STYLE="white-space:nowrap">8-K</FONT> that furnishes the Company&#146;s earnings press release, shareholder
letter and investor presentation relating to the three months ended March&nbsp;31, 2024, which was filed with the Commission today, May&nbsp;7, 2024: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Integration, site consolidation and other costs include retention and severance payments, expenses not
included in restructuring charges related to site closures as well as other integration costs related to the acquisition of Coherent, Inc. Integration, site consolidation and other costs of $41.9&nbsp;million for the three months ended
December&nbsp;31, 2023 includes $16.5&nbsp;million of consulting costs related to projects to integrate recent acquisitions into common information technology systems and simplify the legal entity structure; $11.3&nbsp;million of manufacturing
inefficiencies related to sites that are being shut down as part of our 2023 Restructuring Plan and; $4.3&nbsp;million of overlapping labor and travel and $1.9&nbsp;million of accelerated depreciation for a site in scope of our Synergy and Site
Consolidation Plan; $4.1&nbsp;million of employee severance and retention costs for site consolidations included in our Synergy and Site Consolidation Plan; $2.8&nbsp;million in direct damages related to a power interruption at a manufacturing
facility; and $1.0&nbsp;million in inventory write-offs for a product that is <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">end-of-life.</FONT></FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><U>Form 10-Q for the Period Ended December</U><U></U><U>&nbsp;31, 2023</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify"><U>Results of Operations, page 29 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Comment No.&nbsp;2: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">We note
that revenue decreased 20% for the six months ended December&nbsp;31, 2023, compared to the six months ended December&nbsp;31, 2022, and also that revenues declined in all four markets you serve. Your discussion of what led to this significant
decrease in revenues is limited. In this regard, please address the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">We remind you that the objective of your discussion and analysis per Item 303(a) of Regulation <FONT
STYLE="white-space:nowrap">S-K</FONT> should be </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="9%">&nbsp;</TD>
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">
to provide material information relevant to an assessment of your financial condition and results of operations, which should include descriptions of matters and amounts that have had a material
impact on reported operations, as well as matters that are reasonably likely based on management&#146;s assessment to have a material impact on future operations. Please provide discussion of the specific underlying factors affecting the sales
decreases in the markets/verticals you mention. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Item 303 (b)(2)(ii) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> requires a discussion of known
trends and uncertainties that have had or that are reasonably likely to have a material favorable or unfavorable impact on revenues and income from continuing operations. Please enhance your discussion of the known trends, events, or uncertainties
that have had or are reasonably likely to have materially favorable or unfavorable impacts on the results of your operations. For example it appears that your revenues may have been impacted by certain trends in the markets that you serve. Please
also refer to Commission Release <FONT STYLE="white-space:nowrap">No.&nbsp;33-8350;</FONT> and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Pursuant to Item 303(b)(2)(iii) of Regulation <FONT STYLE="white-space:nowrap">S-K,</FONT> please describe the
extent to which material changes in revenues are attributable to changes in prices, changes in the volume or amount of goods or services being sold, or to the introduction of new products or<B> </B>services. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">RESPONSE: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Company
respectfully acknowledges the Staff&#146;s comment. In response to the Staff&#146;s comments, in future filings we will further specify the underlying factors affecting the sales increases and decreases in the markets/verticals that we discuss, will
enhance our discussion of the known trends, events, or uncertainties that have had or are reasonably likely to have materially favorable or unfavorable impacts on the results of our operations and will describe the extent to which material changes
in revenues are attributable to changes in prices, changes in the volume or amount of goods or services being sold, or to the introduction of new products or<B> </B>services as required by Items 303(a), 303 (b)(2)(ii) and 303(b)(2)(iii) of
Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">For the six months ended December&nbsp;31, 2023, we provide the Staff with
additional information relating to the decreases in our revenues as follows in an edited version of our disclosure from our Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the six months ended December&nbsp;31, 2023: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Revenues for the six months ended December&nbsp;31, 2023 decreased 20% to $2,185&nbsp;million, compared to
$2,715&nbsp;million for the same period last fiscal year.&nbsp;Revenues decreased in all four markets, with the largest decline, $206&nbsp;million (17%), in the communications market, primarily due to decreased volumes in the telecom vertical as our
communications service provider customers continued to work down their inventory levels. Our datacom vertical experienced increased revenues of $17&nbsp;million, primarily driven by <FONT STYLE="white-space:nowrap">AI-related</FONT> datacom business
that we expect to continue to positively impact the datacom vertical. Electronics market revenues decreased $202&nbsp;million (53%), primarily in the consumer electronics vertical largely due to a design change implemented by a significant
electronics customer. Electronics market revenues have been positively impacted by ongoing strength in our silicon carbide business, primarily in EV growth in the automotive vertical. In addition, revenues decreased in the industrial market by
$84&nbsp;million, or 9%, due to decreases in precision manufacturing and semiconductor capital equipment verticals primarily due to macroeconomic uncertainty and in the instrumentation market by $39&nbsp;million, or 17%, due to decreased volumes in
the life sciences vertical. While the near-term outlook for our industrial business remains challenged by the macroeconomic backdrop, we saw signs of sustainable improvement in the second quarter. We experienced double-digit order growth in the
second quarter for both our semiconductor capital equipment and display verticals. Demand in our instrumentation market remained subdued due to ongoing inventory digestion by our customers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; margin-right:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Materials segment decreased $240&nbsp;million year-over-year, primarily due to lower volumes for sensing
products and other consumer applications in the consumer electronics vertical within the electronics market. The Networking segment revenues decreased $208&nbsp;million year-over-year, with the decrease being primarily from lower volumes in the
telecom vertical in our communications market. The Lasers segment revenue for the six months ended December&nbsp;31, 2023 decreased $82&nbsp;million, due to lower shipments in the semiconductor and display capital equipment and precision
manufacturing verticals in the industrial end market and the life sciences vertical in the instrumentation market. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">This is indicative of
the approach we took in our filing for the quarter ended March&nbsp;31, 2024. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="justify">Thank you for your consideration. The Company acknowledges that the Company and its
management are responsible for the accuracy and adequacy of the disclosures in the filings. If you require any additional information on these issues, or if I can provide you with any other information that will facilitate your review of the above
reference, please contact me at rich.martucci@coherent.com or Ilaria Mocciaro at Ilaria.Mocciaro@coherent.com at your earliest convenience. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely,
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">COHERENT CORP.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Richard Martucci</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Richard Martucci</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Interim Chief Financial Officer and Treasurer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">4 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g835491g0506014234705.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g835491g0506014234705.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "! FX# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W:XN3 P&%
MP1U)J(WSCJJCZFL7QQIUSJFE0VUI&'D%W;2D%@/E2968\^P-<5<^'/$]W:[+
MN2ZN5+1SR1M>\ETNBP"<C:?*QW X'<5I%*RT(;?<]0^VO_<6C[:_]Q:\MU4>
M*-,M=2O;F\NE5IBD860>6T;RKL^;?E"$R"0J]3ECP:DTFWU^YTJ:]MKB_O$:
MWCC@$UVR9?S'\U@-X)P,;3N&0!@T[+L*[[GI,VJI;IOGDAB7(&Z1PHR3@#GU
M/%2_;9/[BUY;#X;\2['GN4EDOY[6U1Y6N@P#1S$L&!;!.PC!P>_.:M?V3XP=
MV!NKM,R#SV^UC$O[_.Z/GY%$>1CCZ=Z++L%WW/1_MK_W%J,ZJBSB!I(1,5WB
M,N Q7IG'7'O7+Z,^K+8W&E7L5U]IABD9;QI V=SMY:ACU8+@Y/MFN9N_#?B;
M4=,$-W&\C);,@+7($DK"1&4L=QP2 W&['THLNP7?<]3^VO\ W%H^VO\ W%KB
MM(L?$*>(I[B^N+E;3<_E1LX=#&5&U6^<X8'N%Y/<U0DTWQ2;:,,;]Y!)*;CR
MKY5\PG=Y;)R-J#Y<CCZ&BR["N^YZ)]M?^XM)]M?^ZM>=#1_&&\O+J%T9&)1V
MBN%V[?) RJD@9W_0TD>F^,7,'FO,C!$5&2[RB88[S(I8EBRX_O8]:++L%WW/
M0(M:@N&98)[:5E7<0D@8@>O!Z<&GQZFLT0EB:*2,]'1LJ?QKS*W\.^);2W2*
M*-TAV(LL<%PJ.X\QRP#9&.".]16_AWQ8MA9Z9Y+0VB0/'+MN_E;<&X(#=<D=
M%_&E9=AWUW/4EU1))7B1X6D0 NBOEE!Z9';-2?;7_N+7F<.B>)+=(A#%=1VR
MQ0))#'=J)6VJ0V'W=,X/7I5O3]+\61:E:SWEY/(J2Q"0?:1L,>#ORO<].:=E
MV%=]ST'[:_\ <6HY=36!-\S11IG&YVVC/U->?:A8^,+G5[QK<S6]H^%3R[OJ
M-PY&6X.W/0#\:I7_ (>\57D2VTYN+F!9 80;P84"3.9,GYOEZ=:++L.[[GJ/
MVU_[JTP:FK2F)6B,@7<4#9('KCTKBM9TSQ%>:S,+::=;63:(W6X"Q)'M(=63
M.22<<X_$5BV/A;Q!9-;S6B3VT\,$4.3=@AL.=V>3E<=C19=@N^YZG]M?^XM)
M]M?^XM><VNC^+7\L7=]>@FY0W 28*I0$Y*MO)QC' "_2M+6;'Q#+J%\;&2X\
MMH46T>.Y"*F/OAE)Y8]C@_446785WW.T^VO_ '5H^W.1D*I'L:\Z_LGQ4SQ_
MO;LV[O(GV>>[!V1L,9=U;)8=OO"I_#FD:[I=YI4;)<"SBA\JXCFN0R(1_$N&
M.2?0C\J++L#;[G;2:Y;1'$EQ;J?,$6-_\9Z+]?:K/VU_[BUY2VFW<ZJUM:RR
M:K!JLV-\:O#\S YD#=!M'##D5N:QI7B*[UQY;:ZNH[/,(58;ORUQ@^9QGUQ_
M2DDK;#;=]SLGUJWCE,4EQ;)(N 4:0!AGD<9[TZ'6(;EF6WFMYBH!81R!L ]"
M<'O7F_\ PCOB2Y>!KU/.9&A+,\R$G:C@DGN>126GA_Q-901QHDJP*D2R16UR
ML<C[4((#9&,-COS3LNP7?<]/^VO_ '%J/^TQYWD[HO-V[O+W?-CUQUQ7GD6D
M>,1(LDU_<F0%%)CN5V[/*(8[3P3OQR>]2Z1!JD?B31H]05S=0VUSYLC2;V:(
MLNPL<M@D@G&3197L*[/0?MK_ -U:/MK_ -U:K44^5"YF6?MK_P!U:/MK_P!U
M:K44<J#F99^VO_=6C[:_]U:K44<J#F99^VO_ '5H^VO_ '5JM1U.!1RH.9EG
M[:_]U:0WY!53Y8+?=!/)^E0['_N-^5<O/HVH#Q;?WS:<MY'<6\265PQ4_8W3
M=G(;D DALKG.,&DTNP[L[#[:_P#<6D%\QZ*A^AKS9-'\:K9JRR7WFH("89;L
M-YTP5O,8L&!6,DKP#V^[CBK]OH.N6/AW6;6TCN(KR;4'GC<7&?,B9PQ",3\C
M;<C)QS^=%D%WW.V?54BECBDDA264D1HSX9\=<#O3Q?L20 A*]0#T^M<1I'A_
M6%\2V>IWZW!BACNDC$MQO>)&=3&C8/S' ///;DXK,?0/$]A%J4&D6<JVT\F]
M'DF1+A7)8GYT8%T!(QN((ST(&*6G8=WW/2$U,2/(B-$[1G#JK9*GK@^G%/\
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M*P+9)X]11S,.5%G1O!]SIE[>R2/ ]O<A@R+U8'IG(XX]"<U.O@FQ6T-J8Y3
M6#;-ZJ 1T^Z 3CMG-57\6ZM"J>;8H24$A*Q/RIX!'XX_ TR?Q3KL5[=P?9+4
M-!&2$?J3@?,!OW$9/3;^-',PY$:;>$[9VRPF)+,SYF^_N&"#Z@BH5\%6:6ZP
MQFXC"D[6BD5& (P5RJCC'KS[T[59=21]'FDNCM1'FN$@A<"0A<@8#YQ['-8_
M_"3:IJ>GR, \?$@$D*E<X*X/!89Y]:.9BY4;5YX/L[XVAGCE_P!%4+&!+V!R
M,Y_GQ3I/"5K(L8 GC:, 1R)-ADP2<@^O)JA<>++^-&MK>.)KR,,&5XG.T94*
M3@]\DU:T_7M7E\3'3;F*V$:95CPC, /OJ"Y)!],?C0IMCY43_P#"+PK:VL"-
M<Q_96+12I/\ O.>N6[YJ+_A#[81R1AKD(ZE IF#"-2<D*"#@'WS74T4<S#E1
MS<7A:"&"Y@03>3<QB.2,RY& ,9'H<4R3PC9RWANFA.]D$;C*D.-NWG(ST]"*
MZ>BCF8<J.4'@NV\ME\V^+$C]Z;GYP NW ..!@XIP\'6R0201M=QQ2!0R)<<9
M7&&_WN!S^E=311S,.5'+R>$+61F<_:%9RQD9)\&0,065O4''2K5OX>AMIHY8
MHF#1^9M!?(&\@MQ^%;U%',PY$<O;>#[.T5DAB=8V=7";E 4JVX8(&<9]2:?/
MX4MY_P#GO&2TA9HIMI82'+J?]D^E=+11S,.5'.#PQ BQ+")H?*N&N$,<N"';
M(/X<]*FT[0ETN&2*W#MYDAE=I&!)8]3P /R%;M%'.PY$9WV2;^Z/SH^R3?W1
M^=:-%/G8N1&=]DF_NC\Z/LDW]T?G6C11SL.1&=]DF_NC\Z/LDW]T?G6C11SL
M.1&=]DF_NC\Z/LDW]T?G6C11SL.1&5<:=+<VTL#,\8D4J7B?:PSW![&L^W\+
M_9;-+6&[OUC1"B?Z0 5&0>PQGCJ1W/K6YJ$T=OI]Q--,T$:1LS2H,E !U'!Y
M_"N.CUZ3_A$;AXM4DEN'9G@=N7CBW*/G8#"GGDXR >AQ2YV/D1T-CH_]G6<=
MK;J?+3."[Y)).22?4DFK'V2;^Z/SJ'PS<S7>@6\UQ)))(2P+OU(#$#!P-PQT
M; SUK7I\[%R(SOLDW]T?G1]DF_NC\ZT:*.=AR(SOLDW]T?G1]DF_NC\ZT:*.
M=AR(SOLDW]T?G1]DF_NC\ZT:*.=AR(R+O2OMMK);3Q[HI!A@&P?PK/\ ^$2@
M^S& R79#'<6-Q\Q?.=_^]QUQ73U )I3=M$;:01!<B8LNTGTQG/Z4N9CY49UG
MI/V"U2V@4[%R<L^22>22>YJ?[)-_='YUHT4^=BY$9WV2;^Z/SH^R3?W1^=:-
M%'.PY$9WV2;^Z/SH^R3?W1^=:-%'.PY$9WV2;^Z/SH^R3?W1^=:-%'.PY$94
M^GRSP20DN@=2I:-@&&?0UEGP?$=-&GFZU#[.$"8^U<X!SZ8_3D5U-0+-*UT\
M1MI%C4 B8LNUCZ 9S^8I<S'RHHV^G2V]ND(9Y @P&D8%C]< 5)]DF_NC\ZT:
M*?.Q<B,[[)-_='YT?9)O[H_.M&BCG8<B,[[)-_='YT?9)O[H_.M&BCG8<B,[
M[)-_='YT?9)O[H_.M&BCG8<B,BZTE+Z P7=M'/"2&*/R,CD&LQ/!MI#I,FEV
MYNH+.2/RC'%<8X)).,YP3GD^F*V]:NH++1KJXN;F6WAC3+RPC+@?[/!Y[5RD
MVMW"^$;<)J9>\+H7E#@;8V=L!Y0I"G VE@#R.G-)S'R(ZBTL9+988RSNL8 W
MR,"Q ]?>M*L[09Y;K0+">=I&E>!6=I4VL3CDD=JT:)-MZA%)+0IWUU]E4R-(
ML<:(7=FZ*!U)/I4$.H-<0QS0RI)%(H9'3!# ]"#53Q18W.I6'V.VG2 RE1)(
MR[L1[LL .Y(&.?4US,?A>_C\J.2XM+B.%)8H'8,A@#.&5T49&Y>5QD< <]15
M16FQ+>NYVGVJ;^\/RJ&WU/[7&TD$JNBNT9(7^)3@C\#7%/X0NY!8\6T*0($>
M*WE*C<-O[T,T;8<[>P!_VC4D_A*\ENX93<JT:RROL6384W2[PRDHWS8X.,=.
MM597V%=]SM_M4W]X?E3(M0:=-\4J2)DC<N",@X(_.N)N/"%Z;:UBMI;-&6=Y
MYI"#N9C)N!!*D_=X[?7'%-F\&W+")(C;QPQRS-Y<+A,[WW!\F-L.!QQ^!I67
M8+ON=??2V]Z5T^\VN909%C.03M(.01R"#CO2VD\%FW]GVNV-D3S#& 2<$_>)
M/4D^IS6!IGA^YL];>]D-L1MF7SU+&:7>01NR,?*!CJ?PK+_X0V^,,BA[.-BJ
M*_E,?])VN6)DW*0"<^C=.].R[!=]SOOM4WJ/RH^U3?WA^5<''X9O#?K$$15A
MBAVW4DC,Z$,Q*H0H!!Z'A<"GCP9-&VG^5*BI!$JR"-]A60')D4E&))^JGCK2
MLNP7?<[9KYT=$:10S\*,=:;)J8B?9)/&K;2^TXSM'4_2N13PU?QQ((FLHI8_
M-W2@N?/+!@&<8Z\^]5[7P?>00KO^Q--Y<T8DY!B#X(VD(.F#T ZT6\@N^YW0
MNY6 (8$$9'%0W>JBQMGN+F4)$G5MN?T')KD9/"EW*\P:2V!<,#<!V\R0%0-C
M<?=&/4_05>?PVK:/<:<$M_)>X$L497*(!CC'X&G9=A79TRW<S*&!X(SRN#^5
M!O)54L7  Y)Q7$W/A&YN&N%W6J*[-F0,V^921A7&.  ,#D_A6EJ>ARW%[:26
M26\20QF/YSD*I[*FTX/N"#]:5EV'=]S?34%N@Z)-'(,?,!C@'UIT+FVA6&%5
M2-!A5 X%<5-X/NFAE2-K4-((B[@X:4J,%6RC#!ZY(/TK0FT"=K+3(0(9UM<A
MX;F0E3GHP(49*]N!^%.R["N^YU/VJ;U'Y4?:IO[P_*N*C\)3M\D_V79N'FE&
M<FY&[.7XZXX[_6AO"MX&402V\>(GCWEBV%)R%4;<KZ$AOPI678=WW.NFU=+:
M6.*:=4>0%E!'4#K3FU/;-%"TJB24$QKM^\!UKD!X5O-A*-:VV0X$,3,4C) '
M!P/3)X%,;PKJ'VF29&L3)M<"=]Q>0-CY6&,8&/?Z46\@N^YV4FIB)RDD\:L%
MW%3C('3/TJ3[5,>C#\JX:U\'WD$"AC9&<PF(S D,GS[@ 0HXQQVJ5O"EU))*
M)'ML.3OF#-OG!8'#\=@..3^%.WD%WW.T^U3?WA^5'VN;^\/RKD[?PW/::E:S
M0BV$4$CD G(6,DD*J%>#[@C\:Z:BR%=DWVN;^\/RH^US?WA^50T46079-]KF
M_O#\J/M<W]X?E4-%%D%V3?:YO[P_*C[7-_>'Y5#119!=DWVN;^\/RH^US?WA
M^50T46079-]KF_O#\J/M<W]X?E4-%%D%V3?:YO[P_*C[7-_>'Y5#119!=DWV
MN;^\/RH^US?WA^50T46079-]KF_O#\J/M<W]X?E4-%%D%V3?:YO[P_*C[7-_
M>'Y5#119!=DK7LB(SO(JJHR6;  %5_[;@^P?;OML'V3&[S]PV8^M$NXQ.$17
M;:<*YP"?0\'C\*Y^VTC4!H$>FW4%FX0,P\NYD4[]^Y2&V\8^G84K>0[LZ:#4
M?M,"303)+$XRKI@@BG_:YO[P_*LK1=/?3-*BM993+*&9W?).69BQY/)Z]35^
MG9"NR;[7-_>'Y4?:YO[P_*H:*+(+LF^US?WA^5'VN;^\/RJ&BBR"[)OM<W]X
M?E1]KF_O#\JAHHL@NR;[7-_>'Y4?:YO[P_*H:B$3BY:4W$A0K@0D+M'OTSG\
M:+(+LM_:YO[P_*C[7-_>'Y5#119!=DWVN;^\/RH^US?WA^50T46079-]KF_O
M#\J/M<W]X?E4-%%D%V3?:YO[P_*C[7-_>'Y5#119!=DWVN;^\/RH^US?WA^5
M0U$L3K<O*;B1D88$1"[5]QQG\S19!=EO[7-_>'Y4?:YO[P_*H:*+(+LF^US?
MWA^5'VN;^\/RJ&BBR"[)OM<W]X?E1]KF_O#\JAHHL@NR;[7-_>'Y4?:YO[P_
M*H:*+(+L?+J!MX7FFF2.)!N9WP H]2:BEUN""R6]EO(4M6 *S,1M(/3![YJ*
M]226QGCB2-Y'C*JLAPI)'<X/\JQ%TG46T*TL9H;0RVL<?E/'=2(5E7(W!@N0
M,=L=R*5O(=V=3;WK3F)DD5XWP59<$,#W!K0K T.Q_LS3["Q\PR?9XUC+D?>(
M[UOU,TD]"H-M%'5=0_LVS6X\KS<S11;=V/ON%S^&<UFP^+M.ED"M#=0JSA5D
MEBPK L4W=>FX8R<=1V-:E_'!<HL%Q"94W+( "1RK!@>/<"LR?1]'GMI+6:P)
MBDB,+*78?(6W8ZYZ\YZU*BRKHB7QOHS745ONE#R(&&Y0",J64%<[LD#/3'(R
M:1/&$$SVJPZ;>D3RJC>8JH8U9"ZN03T(!]^#5EM/TW[4TXMY8V9/+=4E94<
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MP/2C ]*P/[:UC_H I_X')_A1_;6L?] %/_ Y/\*5F.Z-_ ]*,#TK _MK6/\
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M\\DOG^6J$MY )D_X#CG/TKFH;II?#+0-?W\,KL9%F,,SM$N>$+##$_CFM/\
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M4,"3A"H !QZ'-49WO;3PP(/,OQ>2N)F9C*_E(Q/REQEL#H<'-:W_  B.O?\
M0XW?_?C_ .SH_P"$0U[_ *'&[_[\?_9U/,A\K+6AO.^B6C7(F\XQC=YWW\^_
M_P!?FM"LFV\*:S#=1RS>*KJ:-6!:,PX#CT^]6WJ&EO=64D-M>26LS#Y9E&2O
M/IQ5<Z%R,BHK$_X1#7?^APN_^_'_ -E1_P (AKO_ $.%W_WX_P#LJ.=!R,VZ
M*Q/^$0UW_H<+O_OQ_P#94?\ "(:[_P!#A=_]^/\ [*CG0<C-NBL3_A$-=_Z'
M"[_[\?\ V5'_  B&N_\ 0X7?_?C_ .RHYT'(S,O+C5AXANVN8]0M[ V<JQM
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5** "BBB@ HHHH **** "BBB@#__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g835491g0506014235009.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g835491g0506014235009.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  K -D# 2(  A$! Q$!_\0
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M-_FC>;OBHV-GXV7MW90Z*;6ZG@+--N\J0KG[G7%7?@Q=W-YX<U![JXEG87>
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MX\'B<+A:M>-*+46E;[GW9K5IU*D8.3UU.N^)VD_VKX$OPJYDM0+E/^ _>_\
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K*RM].\-6MK:Q^7"F_:NXG&6)/)Y[UMUY^-FJF)J36SDW^)M25J<5Y'__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
