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
Shares of Rio Tinto Plc. were losing around 7 percent in the morning trading in London after the mining giant reported a loss for its fiscal year 2015, compared to profit last year, amid steep decline in commodity prices. Further, the company announced flat dividend, and said it is no longer appropriate to maintain the progressive dividend policy. French lender Societe Generale SA reported Thursday higher net profit in its fourth quarter, while operating income declined sharply amid higher litigation provision and lower net banking income. However, fiscal 2015 was marked by good operating performances in all the businesses. Citing the annual results, the company lifted its dividend. Fast-food giant Burger King will be adding hot dogs to its menu in the US from February 23. According to Burger King's North American President Alex Macedo, this addition is the most significant menu addition for the burger chain since it added a chicken sandwich in the 1970s. Burger King will...
comments powered by Disqus
RELATED NEWS
Trade IIVI now with 
Follow RTT