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II-VI Incorporated (Nasdaq: IIVI) has unveiled its new pluggable optical line subsystem (POLS) in a compact QSFP form factor, specifically designed for eight-channel 400ZR/ZR+ transport in datacenter interconnects. This innovation aims to meet the increasing demand for more compact, power-efficient optical transport systems driven by mega-datacenter expansion. The QSFP-LS enhances installation and operational efficiency, supporting up to 3.2 Tbps per fiber pair while consuming less power and space compared to traditional systems. II-VI now offers POLS in both QSFP and OSFP form factors, broadening its market capabilities.
II-VI reported a record $1.1 billion in bookings, a 21% year-over-year increase, and a backlog of $1.7 billion, growing 58% year-over-year. Revenue for the fiscal Q2 was $807 million with GAAP EPS of $0.44 and Non-GAAP EPS of $0.92. The company plans to finalize its Coherent acquisition by mid-2022, following approvals from three out of four global regulators. Notably, sales in industrial and communications markets drove growth, with advances in laser power and silicon carbide substrates.
II-VI Incorporated has launched the world’s first 400G ZR+ QSFP-DD-DCO transceivers with 0 dBm output power, now shipped to Windstream Wholesale for field qualification. This transceiver simplifies network architectures, allowing direct connections to access networks and reducing costs. Based on advanced indium phosphide technology, it supports high output power while meeting QSFP-DD power standards. The product was recognized by Lightwave Innovation Reviews for its innovation, enhancing Windstream's ICON network capabilities with 400G wavelength services slated for late 2022.
II-VI Incorporated and Element Six have announced a strategic collaboration to enhance II-VI's diamond technology by licensing Element Six's single-crystal diamond technology. This partnership aims to accelerate the development of innovative applications in various fields such as 6G wireless, life sciences, sensing, and quantum computing. The unique properties of single-crystal diamonds will enable advancements in high-power optics and thermal management systems. This collaboration is expected to strengthen II-VI's position in the engineered materials market.
II-VI Incorporated (Nasdaq: IIVI) has qualified its 1200 V silicon carbide MOSFET platform on high-quality SiC substrates to meet stringent automotive standards. The company signed a three-year Technology Access Agreement (TAA) with GE Research, enhancing collaboration to utilize advanced SiC module technology. This qualification enables II-VI to expand commercial activities in industrial motors and renewable energy, while also pursuing opportunities in the electric vehicle market. The TAA will involve GE’s experts to further the commercialization of II-VI’s SiC devices.
II‐VI Incorporated (Nasdaq: IIVI) has pledged $100,000 over five years to support the Women in Optics (WiO) scholarship program launched by the Optica Foundation. This initiative aims to award $10,000 scholarships to 20 women annually for the next decade, totaling 200 scholarships by 2030. This funding, part of a larger $2M scholarship fund, emphasizes II-VI's commitment to encouraging women in optics and photonics fields. Applications will be accepted from February 9 through March 15, 2022.
II-VI Incorporated (Nasdaq: IIVI) has announced a live webcast and conference call scheduled for February 9, 2022, at 9:00 a.m. EST, to discuss its second-quarter results for FY 2022. The results will be released before market opening on the same day and can be accessed via the company's website. The call will feature executives including Dr. Vincent D. Mattera, Jr., CEO, and Mary Jane Raymond, CFO. Participants can join the call by dialing +1 734-385-4977, and a replay will be available until February 18, 2022.
II-VI Incorporated (Nasdaq: IIVI) has secured a significant renewable energy contract in Wuxi, China, which will power its largest site with 100% renewable electricity over the next four years. This agreement involves approximately 167 million kWh of renewable energy, preventing nearly 92,000 metric tons of CO2 emissions. II-VI aims to enhance sustainability, already powering its European facilities entirely with renewable sources. Currently, over 25% of its global electricity comes from renewables, with further expansions planned for major manufacturing sites in Asia.
II-VI Incorporated, a leader in engineered materials and optoelectronic components, announced its participation in the 24th Annual Needham Growth Conference on January 10, 2022, at 1:15 p.m. ET. Mary Jane Raymond, the Chief Financial Officer, will represent the company. Investors can access a real-time audio webcast via the company’s website, with a replay available after the event.
Headquartered in Saxonburg, Pennsylvania, II-VI develops innovative products for diverse markets including communications, aerospace, and automotive.
