• Record Fourth Quarter and FY 2018 Revenue – Surpasses $1.0 Billion
• Increased Cash Flow From Operations 36% From Prior Year
• Accelerated Strategic Investments

PITTSBURGH, August 7, 2018 (GLOBE NEWSWIRE) — II-VI Incorporated (Nasdaq:IIVI) (“II-VI” or the “Company”) today reported
results for its fiscal fourth quarter and its full year ended June 30, 2018.
“We ended fiscal year 2018 on a high note with 19% revenue growth for the year. We delivered record revenues for the quarter, a
strong increase in cash flow from operations, and a solid backlog. We experienced momentum across our end markets as we started
FY19”, said Dr. Vincent D. Mattera, Jr., President and Chief Executive Officer. Dr. Mattera added, “For FY18, revenues from the
Industrial market grew 19%, Military was up 15%, and Communications increased 6%. Our growth markets of automotive, consumer
and semiconductor capital equipment collectively more than doubled, contributing about half of the full year growth. Our strategic
investments in technology and manufacturing scale, including those aimed at keeping our product portfolio differentiated, continued
during the early adoption phase of several new emerging markets. The Company delivered positive free cash flow for the year and
repatriated $43M related to the new Tax Cut and Jobs Act.” As we begin FY19, we look forward to the CoAdna team joining us in about
a month when the transaction is expected to close, and combining their wavelength selective switches with our market-leading portfolio
of optical communications products.”

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