II-VI Incorporated (IIVI) Issues Update on Thailand Flooding Impact
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II-VI Incorporated (Nasdaq: IIVI) issues update on Thailand flooding impact:
As the Company reported in its October 25, 2011 first quarter fiscal year 2012 earnings release, Fabrinet (NYSE: FN), a company that manufactures certain products for the Company (specifically, for the Company's recently-acquired Aegis Lightwave, Inc. subsidiary), and manufactures products for certain of the Company's customers using II-VI products, reported that on October 22, 2011 flood waters had infiltrated the manufacturing facilities at its Chokchai location in Pathum Thani, Thailand. Additional information released by Fabrinet on November 7, 2011 indicated that production at the Chokchai location will not recommence during the quarter ending December 31, 2011, and likely for significantly longer, and Fabrinet acknowledged that it may never again manufacture at the Chokchai location. As of today, the Company is unable to estimate the complete financial impact to the Company relating to these events. The Company is currently evaluating the situation and anticipates quantifying the impact to the guidance issued on October 25, 2011 for the quarter ending December 31, 2011 and the fiscal year ending June 30, 2012 no later than December 19, 2011.
As the Company reported in its October 25, 2011 first quarter fiscal year 2012 earnings release, Fabrinet (NYSE: FN), a company that manufactures certain products for the Company (specifically, for the Company's recently-acquired Aegis Lightwave, Inc. subsidiary), and manufactures products for certain of the Company's customers using II-VI products, reported that on October 22, 2011 flood waters had infiltrated the manufacturing facilities at its Chokchai location in Pathum Thani, Thailand. Additional information released by Fabrinet on November 7, 2011 indicated that production at the Chokchai location will not recommence during the quarter ending December 31, 2011, and likely for significantly longer, and Fabrinet acknowledged that it may never again manufacture at the Chokchai location. As of today, the Company is unable to estimate the complete financial impact to the Company relating to these events. The Company is currently evaluating the situation and anticipates quantifying the impact to the guidance issued on October 25, 2011 for the quarter ending December 31, 2011 and the fiscal year ending June 30, 2012 no later than December 19, 2011.
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