On DAY, II-VI Incorporated (NASDAQ: IIVI) oscillated between $40.03 and $41.11 before concluding trading period higher +3.01% at $41.05. The stock recorded total trading quantity of 497,409 shares as compared to its average volume of 731,169 shares. The share price fluctuated between $29.31 changes to $50.75 during the 52-week trading period. The firm has a total market worth of $731.17k and $2.602B shares remain outstanding.
II-VI Incorporated (NASDAQ: IIVI) recently stated results for its fiscal second quarter ended December 31, 2018.
“They delivered solid operating performance during the quarter. They achieved record bookings of $377M, record revenue of $343M and grew our backlog to $513M. The optical communications market was very strong, they flowed up our GaN on SiC device development to address the accelerate 5G market, and they booked several huge orders for SiC substrates from consumers servicing the growing electric vehicle market. They believe all of these drivers will remain strong. During the quarter, They reported our exciting plan to acquire Finisar, and They began our integration planning. Additionally, the U.S. HSR waiting period recently expired and they received clearance from the German competition authority. In the meantime, they remain intensely focused on cost control and operating performance. During the quarter, they generated $69M in cash flow from operations and repaid $60M of outstanding debt.”
The outlook for the third fiscal quarter ending March 31, 2019 is revenues of $335M to $343M and earnings per diluted share of $0.36 to $0.42 including $0.06 to $0.09 per share of transaction costs for our transactions and collaborations recently reported. On an adjusted basis, earnings per diluted share are estimated at $0.60 to $0.69 which includes $0.12 for share based compensation, $0.06 for amortization expense, and $0.06 to $0.09 for transaction costs. This is all at prevailing exchange rates.
Comparable results for the quarter ended March 31, 2018 were revenues of $294.7M and diluted earnings per share of $0.45. The $0.45 diluted earnings per share for the quarter ended March 31, 2018 included $0.09 of income relating to the Tax Cuts and Jobs Act. On an adjusted basis not including the tax adjustment, earnings per share was $0.36. As discussed in more detail below, actual results may differ from these forecasts Because of various factors including, but not limited to, changes in product demand, competition and general economic conditions.