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
A federal judge has dismissed a lawsuit that accused Starbucks (SBUX) of cheating customers by "under-filling" its cold beverages. The lawsuit alleged that Starbucks is deceiving its customers by serving iced drinks with too much ice cubes and less coffee "than advertised." "If children have figured... Apparel retailer Guess? Inc. (GES) on Wednesday reported an increase in profit for the second quarter, despite lower-than-expected revenues reflecting a one-time gain. Earnings for the quarter easily trumped Wall Street estimates, sending the company's stock up over 14 percent in extended hours. Guess'... HP Inc. (HPQ) on Wednesday reported a drop in profit for the third quarter hurt largely by a 4 percent drop in revenues as the company continues to struggle with weak demand for printers. Shares of the computer and printer maker slipped 5 percent in extended session after it detailed a weak fourth quarter...
comments powered by Disqus
Follow RTT