ii-vi inc (IIVI) Key Developments
II-VI Incorporated Announces Resignation of James Martinelli as Vice President, Strategic Resources Group, Effective as of June 30, 2015
Jun 12 15
On June 10, 2015, James Martinelli informed II-VI Incorporated of his intention to step down as an executive officer effective as of June 30, 2015. Mr. Martinelli has served as the Company's Vice President, Strategic Resources Group since July 1, 2014 and Vice President, Military and Materials prior to that. Mr. Martinelli will remain an employee of the Company until September 15, 2015.
II-VI Incorporated to Introduce Customized Fused Silica Asphere 1um Laser Optics
Jun 9 15
II-VI Incorporated announced that it will introduce customized fused silica aspheres for direct diode and fiber or disk laser applications at powers greater than 1kW. Fused silica aspheres are designed to be diffraction limited and achieve smaller spot sizes than typical spherical lenses. II-VI Infrared offers low-absorbing, high quality lenses using manufacturing resources and superior coating technology for both welding and cutting. II-VI Infrared will introduce 15-200mm diameter fused silica asphere optics in high power grade for direct diode laser and standard grade for mid-power fiber laser applications. Custom design, Ion-Beam Sputtered (IBS) coatings and Ion-Assisted Deposition (IAD) are also available for customized design.
II-VI Incorporated Reports Earnings Results for the Third Quarter and Nine Months of 2015; Provides Earnings Guidance for the Fourth Quarter and Full Year 2015
Apr 28 15
II-VI Incorporated reported earnings results for the third quarter and nine months of 2015. For the quarter, the company reported revenues of $182.7 million grew 5% over the third quarter of last year and 3% sequentially. EPS was $0.23, inclusive of $0.015 negative currency effects as well as restructuring costs. Cash flow from operations was $36 million compared to $13 million a year ago. The company invested $8.6 million in capital equipment.
For the nine months, the company reported EPS of $0.67 without the $0.11 of the favorable settlement that discussed last quarter and at $0.67, has already surpassed the EPS of last year of $0.60 for the whole fiscal year 2014. Cash flow from operations was $86 million compared to $59 million a year ago.
The company expects to invest about $45 million altogether for fiscal year 2015 CapEx, not including the $13 million for the purchase of the building in Germany during the first quarter. The company expects 2015 tax rate to be between 14% and 16%. This range compares to last year's rate of 16%, which also benefited from the R&D tax credit.
For the fourth quarter of 2015, the company expects revenue to range from $185 million to $193 million. This compares to $187.9 million for fourth quarter of fiscal year 2014. EPS is expected to range from $0.20 to $0.24 per share, inclusive of $2.4 million in restructuring, and that compares to $0.20 per share in fourth quarter for fiscal year 2014.
II-VI Incorporated Presents at D.A. Davidson & Co. 7th Annual Technology Forum, May-27-2015
Apr 24 15
II-VI Incorporated Presents at D.A. Davidson & Co. 7th Annual Technology Forum, May-27-2015 . Venue: Grand Hyatt New York, Park Avenue at Grand Central, New York, NY 10017, United States.
II-VI Incorporated to Report Q3, 2015 Results on Apr 28, 2015
Apr 20 15
II-VI Incorporated announced that they will report Q3, 2015 results Pre-Market on Apr 28, 2015