II-VI Announces Record Bookings For Q3 2016
Company reports bookings of $235 million and shipments of $205 million
US semiconductor laser company II-VI has reported results for its third fiscal quarter ended March 31, 2016, with record bookings of $235 million and record shipments of $205 million. The recently completed acquisitions of EpiWorks and Anadigics are not included in these results.
GAAP diluted earnings per share (EPS) of $0.24 increased 4 percent compared to Q3 2015. Non-GAAP diluted EPS of $0.35 increased 52 percent compared to Q3 2015
Francis J. Kramer, chairman and CEO, said: "Our continued solid operating results, including bookings and margin, validate our strategy of investing in businesses with market leading products and vertically integrated worldwide manufacturing operations.
"With our acquisitions and investments to commence next quarter, we are accelerating the build out of a scalable semiconductor VCSEL laser platform. II-VI Photonics delivered a robust quarter, particularly from the optical communication markets. Our record bookings this quarter indicate that we expect to end the fourth quarter strong."
The outlook for operations without acquisition effects (non-GAAP) for the fourth fiscal quarter ending June 30, 2016 is revenue of $200 million to $210 million and earnings per share of $0.25 to $0.29.
On a consolidated basis, revenue is expected to be between $210 million to $225 million and earnings per share is expected to be $0.22 to $0.24, excluding one-time items and the effects of our actions underway to improve operating efficiencies.
Comparable results for the quarter ended June 30, 2015 were revenues of $196.7 million and diluted earnings per share of $0.27.
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