II-VI, Inc. (IIVI) Tops Q2 EPS by 3c

II-VI, Inc. (NASDAQ: IIVI) reported Q2 EPS of $0.30, $0.03 better than the analyst estimate of $0.27. Revenue for the quarter came in at $191.4 million versus the consensus estimate of $189.69 million.

Francis J. Kramer, Chairman and Chief Executive Officer said, “It was a busy quarter for our Company. We delivered solid operating results and, as recently announced, we executed definitive agreements to acquire two companies. Our Photonics segment significantly increased revenues and earnings, and its bookings were the catalyst for the Company’s book to bill ratio of 1.08. Our cash flow from operations increased 26% over the same period last year and we have utilized this cash to pay down debt and make strategic capital investments. Despite sluggishness in China and in our industrial markets, we are very encouraged about the prospects ahead for all of our business segments.”

GUIDANCE:

II-VI, Inc. sees Q3 2016 EPS of $0.25-$0.29. II-VI, Inc. sees Q3 2016 revenue of $185-195 million.

For earnings history and earnings-related data on II-VI, Inc. (IIVI) click here.

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