II-VI Incorporated Determines Effects of Recent U.S. Commerce Department Action; Q4FY19 Guidance Unchanged

May 21, 219   I     PDF

II-VI Incorporated (Nasdaq:IIVI), a global leader in engineered materials and optoelectronic components, today shared the results of its analysis of the U.S. Commerce Department’s recent amendment of the Entity List. The U.S. Commerce Department placed Huawei and its affiliates on the Entity List effective May 16, 2019, restricting trade from the U.S.

Following a detailed analysis, the company believes that the Commerce Department’s directive, which affects certain sales of U.S. origin into the supply chain of Huawei and its affiliates, will have minimal effects on the company’s sales and prospects.  As a result, the company is reaffirming its prior guidance for its fiscal Q4 2019. The company will continue to monitor any updates to this directive to assess any changes that may be required and will be fully compliant.

At this time, the company does not expect these developments to affect the merits of the merger with Finisar, which is still expected to complete mid calendar year 2019.