Key Developments For II VI Inc
II VI Inc (IIVI.O) (Nasdaq)
II-VI, Inc. Issues Q2, FY 2010 Guidance In Line With Analysts' Estimates
II-VI, Inc. announced that for the second quarter of 2010, it expects revenue to range from $64.0 to $67.0 million and earnings per share (EPS) from $0.18 to $0.22. For fiscal 2010, it expects revenue to range from $264 to $274 million and EPS from $0.85 to $0.95. According to Reuters Estimates, analysts were expecting the Company to report revenue of $65 million and EPS of $0.20 for second quarter of 2010; revenue of $266 million and EPS of $0.89 for fiscal 2010.
II-VI, Inc. Issues Q1 2010 Outlook; EPS Outlook Below Analysts' Estimates
II-VI, Inc. announced that for first quarter of 2010, it expects revenues to range from $57-$61 million and earnings per share (EPS) to range from $0.12-$0.16. According to Reuters Estimates, analysts were expecting the Company to report revenues of $61 million and EPS of $0.18 for the same period.
II-VI, Inc. Announces Formation of Joint Venture In China
II-VI, Inc. announced that it has entered into a joint venture with Beijing Supower Science and Technology Developing Co., Ltd. (Supower) whereby Supower will be the majority shareholder and II-VI, Inc. will be the minority shareholder. The joint venture will operate as Langfang Haobo Diamond Co., Ltd. and will be a Sino-Foreign joint venture. The joint venture will be based in Beijing, China. Financial terms of the transaction were not disclosed. Langfang Haobo Diamond Co., Ltd. will produce chemical vapor deposition (CVD) diamond, CVD diamond coated products and laser cutting machines for superhard materials.
II-VI, Inc. Issues Q4 2009 Outlook Below Analysts' Estimates; Issues FY 2009 Mixed Outlook
II-VI, Inc. announced that for fourth quarter of 2009, it expects revenues from continuing operations to range from $58-$62 million and earnings per share (EPS) from continuing operations to range from $0.14-$0.18. For fiscal 2009, it expects revenues from continuing operations to range from $284-$288 million and EPS from continuing operations to range from $1.22-$1.26. According to Reuters Estimates, analysts were expecting the Company to report revenues of $68 million and EPS of $0.23 for fourth quarter of 2009; revenues of $296 million and EPS of $1.19 for fiscal 2009.
II-VI, Inc. Issues Q3 2009 Guidance In Line With Analysts' Estimates; Issues FY 2009 EPS Guidance Above Analysts' Estimates; To Cut Jobs
II-VI, Inc. announced that for the third quarter of 2009, it expects revenues from continuing operations to range from $66 million to $70 million and earnings per share (EPS) from continuing operations to range from $0.23 to $0.28. For fiscal 2009, the Company expects revenues from continuing operations to range from $295 million to $305 million and earnings per share from continuing operations to range from $1.30 to $1.40. According to Reuters Estimates, analysts on average are expecting the Company to report EPS of $0.23 on revenues of $66 million for the third quarter of 2009; EPS of $1.20 on revenues of $297 million for fiscal 2009. The Company also announced that it has taken actions to reduce operating costs; these actions include layoffs, reductions in overtime and elimination of certain discretionary spending.
