II-VI beats profit and revenue expectations, but gives downbeat outlook [MarketWatch]
Coherent Corp. 6.00% Series A Mandatory Convertible Preferred Stock (IIVI)
Last coherent corp. 6.00% series a mandatory convertible preferred stock earnings: 2/10 04:05 pm
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Source: MarketWatch
II-VI beats profit and revenue expectations, but gives downbeat outlook Shares of II-VI Inc. IIVI, -0.11% dropped 3.9% in premarket trading Tuesday, after the optical components company reported fiscal fourth-quarter earnings that beat expectations, but provided a downbeat outlook for the current first quarter. Net income for the quarter to June 30 rose to $28.0 million, or 43 cents a share, from $27.2 million, or 42 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS increased to 67 cents from 52 cents, above the FactSet consensus of 66 cents. Revenue grew to $362.7 million from $321.1 million, to beat the FactSet consensus of $348.0 million, with growth led by "key accounts" in its photonics business, from the optical communications markets. For the fiscal first quarter, II-VI provide guidance for revenue of $320 million to $345 million, below the FactSet consensus of $348.2 million, while adjusted EPS is guided to 55 cents to 65 cents, compa
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