II-VI Incorporated Introduces Fiscal Year 2012 Guidance; Announces New Credit Facility

PITTSBURGH, June 15, 2011 (GLOBE NEWSWIRE) -- II-VI Incorporated (Nasdaq:IIVI)
today introduced fiscal year 2012 full year revenue and earnings guidance. The
following guidance was prepared prior to, and is not adjusted to reflect, the
effect of the Company's upcoming two-for-one stock split scheduled for June 24,
2011 to shareholders of record as of June 3, 2011.

The Company reiterates previously-announced guidance issued on April 26, 2011
for the fourth fiscal quarter ending June 30, 2011 of revenues ranging from $129
million to $134 million and earnings per share ranging from $0.68 to $0.73, and
for the fiscal year ending June 30, 2011 of revenues ranging from $500 million
to $505 million and earnings per share ranging from $2.58 to $2.63.

For the fiscal year ending June 30, 2012, the Company expects revenues to range
from $565 million to $580 million and earnings per share to range from $2.80 to
$2.95.

Francis J. Kramer, president and chief executive officer of II-VI Incorporated
stated, "Our initial guidance for fiscal year 2012 reflects growth in Infrared
Optics and other industrial markets as well as a record backlog of orders slated
for delivery in the year ahead. After considering current order patterns in
telecommunication markets, we expect modest growth in our Near-Infrared Optics
business. And, we have tempered our military business expectations for the next
fiscal year due to the current lack of visibility in U.S. military orders. All
in all, you can expect II-VI Incorporated to deliver another solid year of
ten-to-fifteen percent growth in both revenues and earnings per share in fiscal
year 2012."

On June 15, 2011, the Company replaced its existing $60.0 million unsecured
credit facility with a new $50.0 million unsecured credit facility (the "Credit
Facility"). The Company has the option to request an increase in the size of the
Credit Facility in an aggregate additional amount not to exceed $30.0 million.
The Credit Facility has a five-year term and has interest rates ranging from
LIBOR plus 0.625% to LIBOR plus 1.50% based on the ratio of total consolidated
indebtedness to consolidated EBITDA. PNC Bank, National Association is the sole
lender under the Credit Facility.

About II-VI Incorporated

II-VI Incorporated, the worldwide leader in crystal growth technology, is a
vertically-integrated manufacturing company that creates and markets products
for diversified markets including industrial manufacturing, military and
aerospace, high-power electronics and telecommunications, and thermoelectronics
applications. Headquartered in Saxonburg, Pennsylvania, with manufacturing,
sales, and distribution facilities worldwide, the Company produces numerous
crystalline compounds including zinc selenide for infrared laser optics, silicon
carbide for high-power electronic and microwave applications, and bismuth
telluride for thermoelectric coolers.

In the Company's infrared optics business, II-VI Infrared manufactures optical
and opto-electronic components for industrial laser and thermal imaging systems
and HIGHYAG Lasertechnologie GmbH (HIGHYAG) manufactures fiber-delivered beam
delivery systems and processing tools for industrial lasers. In the Company's
near-infrared optics business, VLOC manufactures near-infrared and visible light
products for industrial, scientific, military and medical instruments and laser
gain materials and products for solid-state YAG and YLF lasers. Photop
Technologies, Inc. (Photop) manufactures crystal materials, optics, microchip
lasers and opto-electronic modules for use in optical communication networks and
other diverse consumer and commercial applications. In the Company's military &
materials business, Exotic Electro-Optics (EEO) manufactures infrared products
for military applications, Pacific Rare Specialty Metals & Chemicals (PRM)
produces and refines selenium and tellurium materials and Max Levy Autograph,
Inc. (MLA) manufactures micro-fine conductive mesh patterns for optical,
mechanical and ceramic components for applications such as circuitry, metrology
standards, targeting calibration and suppression of Electro-Magnetic
Interference. In the Company's Compound Semiconductor Group, the Wide Bandgap
Materials (WBG) group manufactures and markets single crystal silicon carbide
substrates for use in the solid-state lighting, wireless infrastructure, RF
electronics and power switching industries; Marlow Industries, Inc. (Marlow)
designs and manufactures thermoelectric cooling and power generation solutions
for use in defense, space, photonics, telecommunications, medical, consumer and
industrial markets; and the Worldwide Materials Group (WMG) provides expertise
in materials development, process development and manufacturing scale up.

This press release contains forward-looking statements based on certain
assumptions and contingencies that involve risks and uncertainties. The
forward-looking statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995 and relate to the Company's
performance on a going-forward basis. The forward-looking statements in this
press release involve risks and uncertainties, which could cause actual results,
performance or trends to differ materially from those expressed in the
forward-looking statements herein or in previous disclosures. The Company
believes that all forward-looking statements made by it have a reasonable basis,
but there can be no assurance that management's expectations, beliefs or
projections as expressed in the forward-looking statements will actually occur
or prove to be correct. In addition to general industry and global economic
conditions, factors that could cause actual results to differ materially from
those discussed in the forward-looking statements in this press release include,
but are not limited to: (i) the failure of any one or more of the assumptions
stated above to prove to be correct; (ii) the risks relating to forward-looking
statements and other "Risk Factors" discussed in the Company's Annual Report on
Form 10-K for the fiscal year ended June 30, 2010; (iii) the purchasing patterns
from customers and end-users; (iv) the timely release of new products, and
acceptance of such new products by the market; (v) the introduction of new
products by competitors and other competitive responses; and/or (vi) the
Company's ability to devise and execute strategies to respond to market
conditions.

CONTACT: Craig A. Creaturo
Chief Financial Officer and Treasurer
(724) 352-4455
ccreaturo@ii-vi.com
Homepage: www.ii-vi.com