II-VI: Fiscal 4Q Earnings Snapshot
SAXONBURG, Pa. (AP) _ II-VI Inc. (IIVI) on Tuesday reported fiscal fourth-quarter earnings of $27.2 million.
On a per-share basis, the Saxonburg, Pennsylvania-based company said it had profit of 42 cents. Earnings, adjusted for one-time gains and costs, came to 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The Laser and optics manufacturer posted revenue of $321.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $300.5 million.
For the year, the company reported profit of $88 million, or $1.35 per share. Revenue was reported as $1.16 billion.
For the current quarter ending in October, II-VI expects its per-share earnings to range from 54 cents to 60 cents.
The company said it expects revenue in the range of $305 million to $315 million for the fiscal first quarter.
II-VI shares have fallen 14 percent since the beginning of the year. The stock has risen 14 percent in the last 12 months.