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Tuesday, November 12, 2019

=II-VI (IIVI) reported earnings on Tue 12 Nov 19 (b/o)

II-VI misses by $0.03, beats on revs; guides Q2 EPS below consensus, revs below consensus

  • Reports Q1 (Sep) earnings of $0.57 per share, excluding non-recurring items, $0.03 worse than the S&P Capital IQ Consensus of $0.60; revenues rose 8.3% year/year to $340.4 mln vs the $335.73 mln S&P Capital IQ Consensus.
  • Co issues downside guidance for Q2, sees EPS of $0.20-0.50, excluding non-recurring items, vs. $0.64 S&P Capital IQ Consensus; sees Q2 revs of $590-630 mln vs. $652.25 mln S&P Capital IQ Consensus.
  • Co said "Growth in our commercial markets was mixed during the first quarter as it was affected by well-known macro factors, including the recent overall slowing in industrial demand. However, we remain optimistic about the long-term growth prospects for all of our commercial end markets. Our Aerospace and Defense business delivered a very strong quarter, in part due to the successful integration of recent acquisitions. We have also put in place the measures to operate the Finisar WSS business separately as required by regulators due to the strong market position of both companies. We are ready to capitalize on new opportunities from the expected rapid growth in our key end markets."
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