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II-VI Incorporated (Nasdaq: IIVI) announced its participation in the Deutsche Bank Virtual Technology Conference on September 15, 2020, at 4:00 p.m. EDT. The conference will be held virtually, featuring discussions led by Dr. Chuck Mattera, CEO, and Mary Jane Raymond, CFO. Investors can access a real-time webcast through the company's Investors section on its website.
II-VI Incorporated specializes in engineered materials and optoelectronic components for various markets, including communications, aerospace, and consumer electronics.
II-VI Incorporated (Nasdaq: IIVI) has declared a quarterly dividend of $2.80 per share on its 6.00% Series A Mandatory Convertible Preferred Stock (Nasdaq: IIVIP). The dividend is set to be paid in cash on October 1, 2020, to shareholders of record as of September 15, 2020. This announcement underscores the company's ongoing commitment to returning value to its shareholders while operating as a leader in engineered materials and optoelectronic components across various industries.
II-VI Incorporated (Nasdaq: IIVI), a leader in optoelectronic components, will participate in the BMO 2020 Virtual Technology Summit on August 25, 2020, at 9:00 a.m. EDT. The event will feature CEO Dr. Chuck Mattera and CFO Mary Jane Raymond.
Investors can access a real-time webcast via the company's Investors section. II-VI specializes in engineered materials and components for various sectors, including communications, aerospace, and automotive.
II-VI Incorporated (Nasdaq: IIVI) announced the launch of its L45 laser lapping system, specifically designed for processing superhard materials like polycrystalline diamond. The L45 system claims to provide up to twice the efficiency of traditional electrical discharge machining (EDM) methods, producing fewer defects and requiring less consumables. It operates continuously and meets CE and U.S. FDA safety standards, making it an appealing option for manufacturers in the superhard materials sector. The introduction reflects II-VI's commitment to innovation and environmental sustainability.
II-VI reported record quarterly revenues of $746.2 million for the fourth quarter of FY20, with a significant backlog of $957 million. The company achieved a GAAP operating income of $67.4 million and a non-GAAP EPS of $1.18. Full year cash flow from operations reached a record $297.3 million, and free cash flow totaled $160.4 million. Following a successful equity raise, the net debt leverage ratio improved from 3.8 to 2.0, strengthening the company’s financial fundamentals and positioning it for future growth.
II-VI Incorporated (Nasdaq: IIVI) has announced a definitive agreement to acquire Ascatron AB and INNOViON Corporation. The acquisitions, expected to close by the end of 2020, will enhance II-VI's capabilities in silicon carbide (SiC) technology and ion implantation services. Ascatron specializes in SiC epitaxial wafers essential for high-voltage power electronics, while INNOViON is the largest provider of ion implantation services globally. These transactions aim to create a vertically integrated SiC technology platform, aligning with II-VI's commitment to innovation in power electronics.
II‐VI Incorporated (Nasdaq: IIVI) announced its WaveShaper® and WaveAnalyzer™ instruments critical for the first live network trial of 800 Gbps transmission at Windstream. The demand for 800 Gbps technology is rising, necessitating advanced portable test instruments. The WaveAnalyzer offers spectral resolution up to 180 MHz, significantly outperforming competitors, while the WaveShaper simulates diverse optical configurations. These instruments are designed for realistic testing and are portable for field use, meeting the challenges of high spectral density in next-gen optical networks.
II-VI announced concurrent public offerings of $350 million in common stock and $400 million in Series A Mandatory Convertible Preferred Stock. The offerings will not depend on each other’s completion and include a 30-day option for underwriters to purchase additional shares. II-VI plans to use about $714.6 million from these offerings to repay existing borrowings and invest in related technologies. The offerings are subject to market conditions and are backed by BofA Securities, J.P. Morgan, and Citigroup.
II-VI Incorporated (Nasdaq: IIVI) has signed a licensing agreement with General Electric to manufacture silicon carbide (SiC) devices and modules for power electronics. This partnership aims to meet the growing demand for SiC-based power electronics driven by sectors like electric vehicles and renewable energy. CEO Dr. Vincent D. Mattera, Jr. highlighted plans to increase SiC material capacity by 5-10x and scale production of 200 mm technology to cater to anticipated market needs in the next five years. This agreement positions II-VI to leverage the expanding market for SiC technology.
