COHERENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) Year Ended October 3, 2020 September 28, 2019 September 29, 2018 Net sales $ 1,228,999 $ 1,430,640  $ 1,902,573  Cost of sales 818,125 944,175  1,071,882  Gross profit 410,874 486,465  830,691  Operating expenses: Research and development 115,578 117,353  132,586  Selling, general and administrative 270,464 272,257  293,632  Goodwill and other impairment charges 451,025 —  766  Amortization of intangible assets 3,987 13,760  10,690  Total operating expenses 841,054 403,370  437,674  Income (loss) from operations (430,180) 83,095  393,017  Other income (expense): Interest income 1,053 1,119  1,571  Interest expense (17,037) (19,122) (25,847) Other—net 3,441 (5,044) (7,186) Total other expense, net (12,543) (23,047) (31,462) Income (loss) from continuing operations before income taxes (442,723) 60,048  361,555  Provision for (benefit from) income taxes (28,584) 6,223  114,195  Net income (loss) from continuing operations (414,139) 53,825  247,360  Loss from discontinued operations, net of income taxes — —  (2) Net income (loss) $ (414,139) $ 53,825  $ 247,358  Basic net income (loss) per share: Income (loss) per share from continuing operations $ (17.18) $ 2.23  $ 10.07  Loss per share from discontinued operations, net of income taxes $ — $ —  $ —  Basic net income (loss) per share $ (17.18) $ 2.23  $ 10.07  Diluted net income (loss) per share: Income (loss) per share from continuing operations $ (17.18) $ 2.22  $ 9.95  Loss per share from discontinued operations, net of income taxes $ — $ —  $ —  Diluted net income (loss) per share $ (17.18) $ 2.22  $ 9.95  Shares used in computation: Basic 24,105 24,118  24,572  Diluted 24,105 24,279  24,851  See accompanying Notes to Consolidated Financial Statements. 72