Key Developments: II-VI Inc (IIVI.O)
16.52USD
24 May 2013
$0.02 (+0.12%)
$16.50
$16.46
$16.66
$16.27
172,872
298,133
$20.00
$14.38
Latest Key Developments (Source: Significant Developments)
II-VI Inc Issues Q4 2013 Mixed Guidance; Lowers FY 2013 Guidance
II-VI Inc announced that for the fourth of 2013, it currently forecasts revenues to range from $147 million to $152 million and earnings per share (EPS) to range from $0.20 to $0.25. For fiscal 2013, the Company currently expects revenues to range from $550 million to $555 million and EPS to range from $0.84 to $0.89. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $159 million and EPS of $0.30 for fourth quarter of 2013; revenue of $563 million and EPS of $0.96 for fiscal 2013. Full Article
II-VI Inc's Subsidiary Signs Multi-Year Agreements For Sapphire Windows
II-VI Inc announced that an agreement between subsidiary Exotic Electro-Optics and Lockheed Martin for two multi-year purchasing agreements. Financial terms of the agreements were not disclosed. Full Article
II-VI Inc Issues Q3 2013 Guidance Below Analysts' Estimates; Raises FY 2013 Revenue Guidance; Lowers FY 2013 EPS Guidance
II-VI Inc announced that for third quarter of 2013, it expects revenues to range from $145 million to $150 million and earnings per share (EPS) to range from $0.24 to $0.28. Comparable results for the quarter ended March 31, 2012 were revenues of $132.6 million and earnings per share of $0.22. For fiscal 2013, the Company expects revenues to range from $560 million to $570 million and earnings per share to range from $0.91 to $0.99. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $175 million and EPS of $0.33 for third quarter of 2013; revenue of $676 million and EPS of $1.31 for fiscal 2013. Full Article
II-VI Inc Announces Aegis Lightwave, Inc Mergers With Photop Aegis Inc
Aegis Lightwave and Photop Technologies, both subsidiary companies of II-VI Incorporated announced that they have merged under the Photop brand identity. Aegis Lightwave, Inc., based in Woburn, MA, U.S.A. will now operate as Photop Aegis Inc. Its subsidiary AOFR Pty Limited, based in Canberra, Australia has been renamed Photop AOFR Pty Limited. Photop Technologies became a subsidiary of II-VI in 2010, and Aegis Lightwave became a subsidiary of II-VI in 2011. Photop Aegis and Photop AOFR have transferred their main manufacturing operations to Photop Technologies at the extensive facilities in Fuzhou, China. Full Article
II-VI Inc Announces Acquisition Of LightWorks Optics, Inc.
II-VI Inc announced that it has acquired all of the outstanding shares of LightWorks Optics, Inc. (LightWorks). The initial consideration consisted of cash of approximately $31 million. In addition, the agreement provides for approximately $4 million of cash earn-out opportunities based upon LightWorks achieving certain future financial targets and is subject to customary closing adjustments including a working capital adjustment. Full Article
Oclaro Inc Agrees To Sell Thin Film Filter Business And Interleaver Product Line To II-VI, Inc. 's Photop Technologies, Inc.
Oclaro Inc announced that it has signed a definitive agreement to sell the assets of its Santa Rosa thin film filter business to Photop Technologies, Inc., a wholly-owned subsidiary of II-VI, Inc. Pursuant to the agreement, Oclaro will also sell its interleaver product line to Photop Koncent, Inc. (FuZhou), a wholly owned subsidiary of II-VI. Both transactions are expected to close December 3, 2012. Full Article
II-VI Inc Issues Q2 2013 Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
II-VI Inc announced that for the second quarter of 2013, it currently forecasts revenues to range from $128 million to $132 million and earnings per share (EPS) to range from $0.20 to $0.22. For fiscal 2013, the Company expects revenues to range from $550 million to $560 million and EPS to range from $1.00 to $1.06. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $134 million and EPS of $0.23 for the second quarter of 2013; and revenue of $558 million and EPS of $1.05 for fiscal 2013. Full Article
II-VI Inc Issues Q2 2013 Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
II-VI Inc announced that for the second quarter of 2013, it currently forecasts revenues to range from $128 million to $132 million and earnings per share (EPS) to range from $0.20 to $0.22. For fiscal 2013, the Company expects revenues to range from $550 million to $560 million and EPS to range from $1.00 to $1.06. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $134 million and EPS of $0.23 for the second quarter of 2013; and revenue of $558 million and EPS of $1.05 for fiscal 2013. Full Article
II-VI, Inc. Issues Q1 2013 Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
II-VI, Inc. announced that for the first quarter of 2013, it currently forecasts revenues to range from $128 million to $132 million and earnings per share to range from $0.20 to $0.23. For fiscal 2013, the Company expects revenues to range from $573 million to $583 million and earnings per share (EPS) to range from $1.10 to $1.18. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $142 million and EPS of $0.27 for the first quarter of 2013; and revenue of $580 million and EPS of $1.16 for fiscal 2013. Full Article
II-VI, Inc. Lowers Q4, FY 2012 Guidance; Issues FY 2013 Guidance Below Analysts' Estimates
II-VI, Inc. announced that for the fourth quarter of 2012, the Company currently forecasts revenues to range from $135 million to $137 million and earnings per share (EPS) to range from $0.23 to $0.25. For fiscal 2012, the Company currently expects revenues to range from $533 million to $535 million and earnings per share to range from $0.94 to $0.96. The Company's Pacific Rare Specialty Metals & Chemicals, Inc. (PRM) tellurium inventory has continued to experience a decline in the market price of that minor metal during the current fiscal quarter due to the ongoing volatility in the global photovoltaic market. Based on the current market price of tellurium, and despite the ongoing operational efforts of PRM to mitigate its exposure to tellurium price volatility, the Company expects a write-down of PRM's tellurium inventory of approximately $1.7 million to $1.9 million or approximately $0.03 per share diluted during the fourth quarter of 2012. Also, demand for PRM's tellurium has been reduced, and the revenues in its outlook have been adjusted. For fiscal 2013, the Company expects revenues to range from $582 million to $588 million and earnings per share to range from $1.14 to $1.21. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $141 million and EPS of $0.29 for fourth quarter of 2012; revenue of $539 million and EPS of $1.01 for fiscal 2012; and revenue of $593 million and EPS of $1.34 for fiscal 2013. Full Article
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