SiliconBeat

Coherent, the Santa Clara maker of lasers and precision optics, scaled back its expectations sales during its most recently completed quarter. It reduced its range by about 9 percent from $141 to $142.5 million down from $154 to $157 million, citing “delivery push-outs and lower orders from the microelectronics market” as the main reason for the lowered guidance.

The company also announced “another major component” of its “EBITDA initiative” — first time we’ve heard a company plan called something like that — which was the closing of its excimer laser site in Munich, which will be consolidated into the company’s other German facilities in Goettingen.