- Record Fourth Quarter and Full Year Revenue
- Record Full Year Bookings Exceed $1.0 Billion
PITTSBURGH, Aug. 07, 2017 (GLOBE NEWSWIRE) — II-VI Incorporated (Nasdaq:IIVI) (“II-VI” or the “Company”) today reported results for its fiscal fourth quarter and full year ended June 30, 2017.
Dr. Vincent D. Mattera, Jr., President and Chief Executive Officer of II-VI said “Our fiscal fourth quarter and full year results reflect significant achievements across all our end markets derived from earlier investments consistent with our growth strategy. We achieved record quarterly revenue and record annual bookings of over $1 billion, led by a 28% annual revenue growth in our Photonics segment. Our industry-leading vertical integration strategy served us very well this quarter and this year. We successfully integrated our fiscal 2016 acquisitions to serve our fast growing markets, including 3D sensing, and in the last few weeks, we acquired two additional companies. Our acquisition of Integrated Photonics and the acquisition we announced this morning of a multi-purpose compound semiconductor wafer fab will further advance our manufacturing leadership in materials and optoelectronic devices. During fiscal 2018, we expect to see the benefits of our momentum in our growth areas including data centers, next generation wireless and power devices, 3D sensing and EUV lithography.”
The Company’s strong fiscal 2017 revenue growth reflects the benefits of its continued investments in R&D. The fiscal 2017 investment in VCSEL technology and product development is helping position the Company for meaningful share in end markets with expected growth in the billions of dollars over the next several years. These R&D investments in the Laser Solutions Segment were $4.6 million and $30.2 million, for the three and twelve months ended June 30, 2017, respectively.