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II‐VI Incorporated (Nasdaq: IIVI) announced a licensing agreement with General Electric (NYSE: GE) for manufacturing silicon carbide (SiC) devices and modules for power electronics. The demand for SiC-based power electronics is surging due to growth in electric vehicles, renewable energy, and microgrids. SiC technology provides higher efficiency and lower costs compared to traditional silicon devices. II‐VI aims to scale its SiC materials capacity by 5-10x and enhance its production of 200 mm materials to meet increasing demand over the next five years.
II-VI Incorporated (Nasdaq: IIVI), a leader in engineered materials and optoelectronic components, will participate in a virtual panel discussion titled P.S. It’s Friday: The Rise of Silicon Carbide. This event is scheduled for May 29, 2020, at 9:15 a.m. EDT. Dr. Chuck Mattera, CEO, will represent the company. A real-time audio webcast will be accessible on the Company’s investors webpage, with a replay available post-event.
II-VI is recognized for its diverse applications across various sectors, including communications, aerospace, and automotive.
II-VI Incorporated (Nasdaq:IIVI), a leader in engineered materials and optoelectronic components, analyzed the U.S. Commerce Department’s interim rule affecting Huawei, effective May 16, 2019. The new rule imposes further controls on foreign-produced items destined for designated entities. The company asserts that this will have no to minimal impact on its sales or prospects. II-VI plans to monitor the rule and comply with U.S. regulations to mitigate risks. The company operates globally across multiple sectors, providing innovative solutions in various markets including telecommunications and defense.
II-VI Incorporated (Nasdaq: IIVI), a leader in engineered materials and optoelectronic components, will participate in the 15th Annual Needham Technology & Media Conference on May 19, 2020, at 3:15 p.m. EDT. The event will be held virtually, featuring CEO Dr. Chuck Mattera and CFO Mary Jane Raymond. Investors can access a live audio webcast through the company's website, with a replay available post-event. II-VI is known for its innovative products across various sectors, including communications, aerospace, and automotive.
II-VI reported its fiscal 2020 third quarter results with record bookings of $840 million and a backlog of $893 million. The quarterly revenue reached $627 million, accompanied by a GAAP operating income of $69 million and a non-GAAP operating income of $86.5 million. GAAP EPS was $0.06, while non-GAAP EPS was $0.47. The company successfully integrated Finisar amid the pandemic, seeing strong demand in communications markets, particularly in telecom and datacom. Outlook for Q4 anticipates revenues between $650 million and $700 million.