II-VI Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Third Quarter Ending March 31, 2016; Provides Earnings Guidance for the Fiscal 2016
January 26, 2016 at 06:55 am
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II-VI Incorporated reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported revenues of $191.5 million against $176.8 million a year ago. Operating income was $21.7 million against $16.5 million a year ago. Net earnings were $19.0 million against $22.1 million a year ago. Adjusted net earnings were $19.0 million against $15.0 million a year ago. Diluted earnings per share were $0.30 against $0.35 per share a year ago. Adjusted diluted earnings per share were $0.30 against $0.24 per share a year ago. Adjusted EBITDA was $36.6 million against $31.1 million a year ago. EBITDA was $36.6 million against $38.8 million a year ago. Earnings before income taxes were $22,178,000 against $22,136,000 a year ago. Adjusted Non-GAAP earnings diluted earnings per share was $0.30 against $0.24 per share a year ago. Adjusted Non-GAAP earnings were $19.0 million against $15.0 million a year ago.
For the six months, the company reported revenues of $380.7 million against $362.6 million a year ago. Operating income was $43.5 million against $35.9 million a year ago. Net earnings were $36.2 million against $34.4 million a year ago. Adjusted net earnings were $36.2 million against $27.3 million a year ago. Diluted earnings per share were $0.58 against $0.55 per share a year ago. Adjusted diluted earnings per share were $0.58 against $0.44 per share a year ago. Adjusted EBITDA was $72.7 million against $62.4 million a year ago. EBITDA was $72.7 million against $70.1 million a year ago. Earnings before income taxes were $44,314,000 against $41,298,000 a year ago. Net cash provided by operating activities was $62,300,000 against $49,444,000 a year ago. Additions to property, plant and equipment was $19,156,000 against $31,609,000 a year ago. Adjusted Non-GAAP earnings diluted earnings per share was $0.58 against $0.44 per share a year ago. Adjusted Non-GAAP earnings were $36.2 million against $27.3 million a year ago.
For the third quarter ending March 31, 2016, the company forecasts revenues to range from $185 million to $195 million and diluted earnings per share to range from $0.25 to $0.29 at prevailing exchange rates and before any effects of any acquisitions. The company will update its guidance when the transactions close. Comparable results for the quarter ended March 31, 2015 were revenues of $182.7 million and diluted earnings per share of $0.23.
For the fiscal 2016, the company expects to spend $50 million to $55 million on capital equipment for 2016. The company expects tax rate in the range of 18% to 20%.
Coherent Corp. is a vertically integrated manufacturing company. The Company develops, manufactures and markets engineered materials, optoelectronic components and devices, optical and laser subsystems and systems for use in the industrial, communications, electronics, and instrumentation markets. Its segments include Networking, Materials, and Lasers. The Networking segment designs, manufactures, and markets products, such as optical and electro-optical components and materials, infrared optical components, semiconductor lasers and detectors, engineered materials, and compound semiconductor epitaxial wafers. The Materials segment manufactures transceivers for data centers and telecom optical networks, pump lasers, optical amplifiers, crystal materials, optics, lasers and optoelectronic modules. The Lasers segment offers lasers and optics products that serve industrial customers in semiconductor and display capital equipment, precision manufacturing, and aerospace and defense.
II-VI Incorporated Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Earnings Guidance for the Third Quarter Ending March 31, 2016; Provides Earnings Guidance for the Fiscal 2016
COHERENT CORP. 
