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II-VI Incorporated today announced the receipt of $17 million in Ultra-Violet (UV) Filter orders from a major military customer. These orders represent the initial release on a multi-year, sole source contract that the Company has received. The contract, recently awarded to the Company's Near-Infrared Optics business segment, involves the production of UV Filter assemblies used in systems to protect aircraft against missile threats.
Francis J. Kramer, president and chief operating officer of II-VI Incorporated, said, "We are excited about these orders and the future opportunities for this product area. The award of this contract was a result of a successful teaming effort between our Near-Infrared Optics business segment and our Advanced Material Development Center. We have been able to maintain excellent on-time delivery and quality as we have continually increased production rates to meet our customer's demand."
The $17 million orders will be recognized by the Near-Infrared Optics business segment as bookings for the quarter ending December 31, 2006. Bookings are defined as customer orders received that are expected to be converted into revenues during the next 12 months.
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