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Coherent Announces Restatement Related to Stock-Based Compensation
Date:9/27/2007

accounting impacts of the change in measurement dates for stock options granted during the Relevant Period.

On September 26, 2007, the Company's Audit Committee, after consultation with management, determined that additional charges for stock-based compensation expense will be required and that those charges will be material with respect to certain prior fiscal periods. The Company expects the aggregate pre-tax amount of the additional non-cash compensation through June 2006 to be in the range of $22 million to $28 million. The significant majority of these charges result from changes to the measurement dates of stock options granted prior to the end of fiscal year 2001, with over half of such non-cash compensation arising from stock options granted in the fiscal year 2000. Accordingly, the Company's Audit Committee concluded that Coherent's financial statements and any related reports of its independent registered public accounting firm for the fiscal years 1995 through 2005 and the financial statements for the fiscal quarters ended July 1, 2006, April 1, 2006 and December 31, 2005 should no longer be relied upon. Additionally, the Company has not yet determined the tax consequences that may result from these matters or whether tax consequences will give rise to monetary liabilities which may have to be satisfied in any future period. (Please refer to the important disclosures which follow under the heading "Forward-Looking Statements.")

Coherent intends to file its Form 10-K for the fiscal year ended September 29, 2006 (the "2006 Form 10-K"), which will reflect the restatement of the financial statements for all such periods presented, as well as its quarterly reports on Form 10-Q for the periods ended December 31, 2006, March 30, 2007 and June 30, 2007, as soon as practicable. The audited financial statements in the 2006 Form 10-K will contain restated financial statements and explanatory information as required by the Securities and Exchange Commiss
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SOURCE Coherent, Inc.
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