- Quarterly Revenue of $666.3 million, Exceeded Top End of our Guidance by 6% and the Analysts’ Consensus by 9%, with Strength Across Most Markets
- Quarterly GAAP Operating Loss Includes $91 million of One Time Transaction Expenses
- Quarterly Adjusted Operating Income Increased 28% Sequentially
- Continuing Progress on Integration and Cost Synergy Strategies
II-VI Incorporated (Nasdaq:IIVI) (“II-VI” or the “Company”) today reported results for its fiscal 2020 second quarter ended December 31, 2019.
“The just-completed quarter marks the first full quarter of II-VI operations with Finisar included, since the transaction closed on September 24, 2019. Revenue of $666.3M exceeded the top end of our guidance by 6% and the analysts’ consensus by 9%. This is driven by strength across our markets including optical communications, where stronger transceiver and ROADM sales exceeded our expectations, with sequential strength in 3D sensing, aerospace and defense and SiC substrates,” said Dr. Vincent D.Mattera, Jr. Chief Executive Officer of II-VI Incorporated. “We achieved record VCSEL product revenues and are completing our Sherman, Texas facility qualification. Across our markets, customer enthusiasm and support remain very high. We continue to make great progress on our integration and cost synergies, and look forward to addressing the market opportunities ahead.”