II-VI Q2 Profit Rises

(RTTNews) - II-VI Inc. (IIVI) reported that its net earnings for its second fiscal quarter ended December 31, 2014 increased to $22.10 million or $0.35 per share from $7.57 million or $0.12 per share in the prior year quarter. Net earnings included $7.1 million of income, or $0.11 per share, from the settlement of certain payment obligations in the purchase agreements for acquisitions completed in fiscal year 2014.

Adjusted earnings per share were $0.24 up from $0.16 in the previous year.

Total Revenues for the quarter grew to $176.74 million from $171.77 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.17 per share and revenues of $176.79 million for the quarter.

For the third fiscal quarter ending March 31, 2015, the company currently forecasts revenues from continuing operations to range from $174 million to $182 million and earnings per share from continuing operations to range from $0.18-$0.24 per share-diluted. Comparable results for the quarter ended March 31, 2014 were revenues from continuing operations of $173.6 million and earnings per share from continuing operations of $0.13 per share. Analysts expect the company to report earnings of $0.17 per share and revenues of $177.31 million for the third-quarter