II-VI Incorporated Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2013
January 22, 2013 at 11:55 am
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II-VI Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported earnings before income taxes of $19,263,000, net earnings of $12,467,000 and net earnings attributable to company of $12,200,000 or $0.19 per diluted share on total revenue of $125,889,000 compared to earnings before income taxes of $15,667,000, net earnings of $13,520,000 and net earnings attributable to company of $13,287,000 or $0.21 per diluted share on total revenue of $126,757,000 a year ago period. Adjusted Non-GAAP net earnings attributable to company was $12,983,000 or $0.20 per diluted share compared to $15,471,000 or $0.24 per diluted share a year ago period. EBITDA was $29,649,000 against $24,266,000 a year ago period.
For the six months, the company reported earnings before income taxes of $36,582,000, net earnings of $25,599,000 and net earnings attributable to company of $24,918,000 or $0.39 per diluted share on total revenue of $258,181,000 compared to earnings before income taxes of $40,273,000, net earnings of $32,234,000 and net earnings attributable to company of $31,866,000 or $0.50 per diluted share on total revenue of $265,130,000 a year ago period. Net cash provided by operating activities was $60,977,000 against $42,913,000 a year ago period. Additions to property, plant and equipment was $13,177,000 against $23,068,000 a year ago period. Adjusted Non-GAAP net earnings attributable to company was $26,176,000 or $0.41 per diluted share compared to $34,342,000 or $0.54 per diluted share a year ago period. EBITDA was $56,075,000 against $57,241,000 a year ago period.
The company provided earnings guidance for the third quarter ending March 31, 2013. For the third quarter, the company currently forecasts revenues to range from $145 million to $150 million and earnings per share to range from $0.24 to $0.28. Comparable results for the quarter ended March 31, 2012 were revenues of $132.6 million and earnings per share of $0.22.
For the fiscal year ending June 30, 2013, the company expects revenues to range from $560 million to $570 million and earnings per share to range from $0.91 to $0.99. Comparable results for the year ended June 30, 2012 were revenues of $534.6 million and earnings per share of $0.94. The company is still expecting the income tax rate for the fiscal year 2013 to range between 23% and 25%.
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 Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2013
COHERENT CORP. 
