II-VI: Fiscal 4Q Earnings Snapshot
SAXONBURG, Pa. (AP) _ II-VI Inc. (IIVI) on Tuesday reported fiscal fourth-quarter net income of $28 million.
The Saxonburg, Pennsylvania-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 67 cents per share.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 67 cents per share.
The Laser and optics manufacturer posted revenue of $362.7 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $349.2 million.
For the year, the company reported profit of $107.5 million, or $1.63 per share. Revenue was reported as $1.36 billion.
For the current quarter ending in October, II-VI expects its per-share earnings to range from 55 cents to 65 cents.
The company said it expects revenue in the range of $320 million to $345 million for the fiscal first quarter.
II-VI shares have risen 17% since the beginning of the year. The stock has dropped 15% in the last 12 months.