II-VI Inc. (IIVI: Quote) lowered its fourth quarter EPS forecast to between $0.23 and $0.25 after the bell Thursday, from prior expectations of $0.27 to $0.31. Full year 2012 EPS is now expected to be between $0.94 and $0.96, down from prior guidance of $0.98 to $1.02. The consensus estimates are for EPS of $0.29 and $1.01.
II-VI Inc. gapped open lower Friday and fell in the first hour of trade, before settling into a range. Shares finished down by 2.35 at $16.25 on strong volume. The stock closed testing support at the lows of the year, trading at over a 7-month low.
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by RTT Staff Writer
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