logo
Share SHARE
FONT-SIZE Plus   Neg

II-VI Q3 Profit Declines - Quick Facts

II-VI Inc. (IIVI) posted third-quarter net earnings attributed to the company of $13.99 million or $0.22 per share compared to $23.12 million or $0.36 per share last year.

Revenues for the quarter rose 2% to $132.59 million from $130 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share on revenues of $134.28 million for the quarter. Analysts' estimates typically exclude special items.

Francis Kramer, president and chief executive officer, commented, "We achieved record bookings in our third fiscal quarter, the result of strengthening product demand across the majority of the markets we serve. Product orders in the Infrared Optics segment and at Photop Technologies, Inc. (Photop) were robust -- up 13% and 17%, respectively, from the year-ago quarter and up 35% and 60%, respectively, from the quarter ended December 31, 2011. As a result, our backlog increased $13 million during the quarter and now totals $174 million. Consequently, we have better visibility in the near-term outlook."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Federal Network Agency (Bundesnetzagentur) has asked parents who bought the popular My Friend Cayla doll to destroy the toy or disable its wireless connection. The Bundesnetzagentur has banned the unauthorized wireless transmitting equipment in a children's toy and has already removed the product... Saudi Arabia is reportedly considering to list its state-run oil behemoth Saudi Aramco in New York Stock Exchange. According to a WSJ report, citing people familiar with the matter, Aramco prefers to float its shares on the NYSE, or in London or Toronto after discussion to list on an Asian stock exchange... Anglo-Australian mining giant BHP Billiton plc reported Tuesday a profit in its first half, compared to last year's hefty loss on sharply lower one charges. Underlying EBITDA, a key earnings metric, climbed 65 percent with higher production and prices. The company further lifted its dividend by 150 percent.
comments powered by Disqus
Follow RTT