II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results

These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the joint proxy statement/prospectus included in the registration statement on Form S-4 (File No. 333-229052) filed with the SEC in connection with the proposed transaction (the “Form S-4”). While the list of factors discussed above is, and the list of factors presented in the Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Neither II-VI nor Finisar assumes any obligation to publicly provide revisions or updates to any forward looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.


II-VI Incorporated and Subsidiaries  
Condensed Consolidated Statements of Earnings (Unaudited)  
($000 except per share data)  
                               
    Three Months Ended  
    June 30,     March 31,     June 30,  
    2019     2019     2018  
Revenues $ 362,728  $ 342,496  $ 321,075 
                
Costs, Expenses & Other Expense (Income)               
Cost of goods sold   224,076    215,212    192,465 
Internal research and development   36,202    36,026       32,896  
Selling, general and administrative       61,731         60,128         55,690  
Interest expense       5,606         5,647         5,049  
Other expense (income), net       384         (1,532 )       768  
Total Costs, Expenses, & Other Expense (Income)       327,999         315,481         286,868  
                               
Earnings Before Income Taxes       34,729         27,015         34,207  
                               
Income Taxes       6,701         2,377         7,040  
                               
Net Earnings   $   28,028     $   24,638     $   27,167  
                               
Diluted Earnings Per Share   $   0.43     $   0.38     $   0.42  
                               
Basic Earnings Per Share   $   0.44     $   0.39     $   0.44  
                               
Average Shares Outstanding  - Diluted       65,686         65,701         65,158  
Average Shares Outstanding  - Basic       63,719         63,612         62,521  

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