For the fiscal year ending June 30, 2012, the Company expects revenues to range from $575 million to $590 million. However, this does not take into account the impact of the floods in Thailand.

II-VI Incorporated has reported results for its first fiscal quarter ended September 30, 2011.

All per share data has been adjusted to account for the two-for-one split of the Company’s common shares paid as a stock dividend to shareholders on June 24, 2011.

On July 1, 2011, the Company acquired Aegis Lightwave and on December 7, 2010, the Company acquired Max Levy Autograph (MLA). Results for the quarter ended September 30, 2011 include the operating results of both Aegis and MLA. Aegis is part of the Company’s Near-Infrared Optics segment while MLA is part of the Company’s Military & Materials segment.

Bookings for the quarter increased 16% to $130,247,000 compared to $112,050,000 in the first quarter of last fiscal year. Bookings are defined as customer orders received that are expected to be converted into revenues during the next 12 months.

Revenues for the quarter increased 15% to $138,373,000 from $120,134,000 in the first quarter of last fiscal year.

Net earnings attributed to II-VI Incorporated for the quarter were $18,579,000 or $0.29 per share-diluted compared with net earnings of $18,367,000 or $0.29 per share-diluted in the first quarter of last fiscal year.

Francis J. Kramer, president and chief executive officer said, “Our Infrared Optics segment continues to benefit from increased utilisationand deployment of CO2 laser systems worldwide. The Company’s Near-Infrared Optics segment continued to experience softening in order intake as inventory adjustments impacted the telecommunication markets. The segment earnings of Near-Infrared Optics were impacted during the quarter by lower operating margins at Photop, mostly due to a change in product mix, lower military sales and gross margins at VLOC and costs incurred by Aegis related to acquisition write-ups of tangible and intangible assets.”

“Our Pacific Rare Specialty Metals & Chemicals, Inc. business increased revenues by 28% over the first quarter of last fiscal year but profitability was impacted by commodity prices and a one-time charge resulting from a high-profile bankruptcy by one of our customers in the solar industry. Our Marlow business recorded double-digit increases in both bookings and revenues compared to the first quarter of last fiscal year.”

Kramer continued, “During the quarter we completed the acquisition of Aegis Lightwave. We believe their partnership with Photop will provide significant enhancements to our telecommunications product line and anticipate customers’ growing needs for network bandwidth and reliability.”

Kramer concluded, “II-VI Incorporated is well positioned to take advantage of worldwide economic opportunities and to respond to changing global conditions. We continue to make strategic investments in capital equipment at our worldwide manufacturing locations to improve capacity, quality, productivity and yields. Our updated guidance for fiscal year 2012 has been adjusted to reflect general market conditions and the current cautious sentiment of our industrial and military customers.”

Segment Information

The following segment information includes segment earnings (defined as earnings before income taxes, interest expense and other expense or income, net). Management believes segment earnings are a useful performance measure because they reflect the results of segment performance over which management has direct control. Effective July 1, 2011, the Company renamed its former Compound Semiconductor Group operating segment the Advanced Products Group.

For the second fiscal quarter ending December 31, 2011, the Company currently forecasts revenues to range from $133 million to $138 million and earnings per share to range from $0.26 to $0.30. Comparable results for the quarter ended December 31, 2010 were revenues of $120.9 million and earnings per share of $0.30.

For the fiscal year ending June 30, 2012, the Company expects revenues to range from $575 million to $590 million and earnings per share to range from $1.26 to $1.33. Results for the year ended June 30, 2011 were revenues of $502.8 million and earnings per share of $1.30.

On October 24, 2011, Fabrinet, a company that manufactures products for the Company and manufactures products for certain of the Company’s customers using II-VI products, announced that flood waters had infiltrated the manufacturing facilities at its Chokchai campus in Pathum Thani, Thailand. Fabrinet also announced that it has not yet been able to make a full assessment of the damage but believes it is unlikely that production would recommence at Chokchai for the remainder of the current quarter.

The Company does not know whether this event will have a material adverse impact on its results of operations. As a result, the foregoing outlook does not take into account the impact that this event will have on the Company for the quarter ending December 31, 2011 or for the fiscal year ending June 30, 2012.

The Company hosted a conference call discussing these results. A replay of the webcast will be available until 8th November from the company’s website.

II-VI Incorporated produces numerous crystalline compounds including zinc selenide for infrared laser optics, silicon carbide for high-power electronic and microwave applications, and bismuth telluride for thermoelectric coolers.