II-VI Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Quarter Ending March 31, 2017
January 24, 2017 at 06:55 am EST
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II-VI Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2016. For the quarter, the company reported revenues of $231,822,000 against $191,434,000 a year ago. Earnings before income taxes were $31,816,000 against $22,178,000 a year ago. Net earnings were $23,903,000 or $0.37 per diluted share against $18,991,000 or $0.30 per diluted share a year ago. Adjusted earnings were $31.5 million or $0.49 per diluted share against $19.0 million or $0.30 per diluted share a year ago.
For the six months, the company reported revenues of $453,342,000 against $380,641,000 a year ago. Earnings before income taxes were $55,663,000 against $44,314,000 a year ago. Net earnings were $40,197,000 or $0.63 per diluted share against $36,205,000 or $0.58 per diluted share a year ago. Net cash provided by operating activities was $58,692,000 against $62,300,000 a year ago. Additions to property, plant and equipment was $57,822,000 against $19,156,000 a year ago. Adjusted earnings were $54.0 million or $0.84 per diluted share against $36.2 million or $0.58 per diluted share a year ago.
The outlook for the third fiscal quarter ending March 31, 2017 is revenue of $234 million to $244 million and diluted earnings per share of $0.31 to $0.36.
Coherent Corp. is a vertically integrated manufacturing company. The Company develops, manufactures and markets engineered materials, optoelectronic components and devices, optical and laser subsystems and systems for use in the industrial, communications, electronics, and instrumentation markets. Its segments include Networking, Materials, and Lasers. The Networking segment designs, manufactures, and markets products, such as optical and electro-optical components and materials, infrared optical components, semiconductor lasers and detectors, engineered materials, and compound semiconductor epitaxial wafers. The Materials segment manufactures transceivers for data centers and telecom optical networks, pump lasers, optical amplifiers, crystal materials, optics, lasers and optoelectronic modules. The Lasers segment offers lasers and optics products that serve industrial customers in semiconductor and display capital equipment, precision manufacturing, and aerospace and defense.
II-VI Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Quarter Ending March 31, 2017
COHERENT CORP. 
