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II-VI reports record Q4 revenues of $808.0M and a backlog of $1.3B for fiscal 2021, with full-year revenue reaching $3.1B, a 30% increase year-over-year.
The company achieved a non-GAAP EPS of $3.73, marking a 31% growth. They plan to invest $1B over the next decade in silicon carbide (SiC) technology, expected to grow at double the company’s growth rate.
Outlook for Q1 FY2022 includes revenues of $780M to $830M and non-GAAP EPS of $0.75 to $0.90.
II-VI Incorporated (Nasdaq: IIVI) will host a live webcast and conference call on August 10, 2021, at 9:00 a.m. EDT to discuss its fourth-quarter results for FY 2021. The results will be available before the market opens on the same day on the Company’s website. Hosted by Dr. Vincent D. Mattera, Jr., CFO Mary Jane Raymond, and Dr. Giovanni Barbarossa, the event aims to provide insights into the Company’s financial performance. Participants can join the call by dialing the provided numbers and will have access to a replay until August 13, 2021.
II-VI Incorporated (IIVI) and Coherent, Inc. (COHR) have received overwhelming shareholder approval for II-VI's acquisition of Coherent. Approximately 99% of votes from both companies endorsed the merger agreement, marking a pivotal milestone. The merger is anticipated to create a diversified global leader in engineered materials, photonics, and electronics. Completion is projected by late 2021 or early 2022, pending regulatory approvals. Both companies aim to leverage their strengths to enhance innovation and value for stakeholders.
II-VI Incorporated (Nasdaq: IIVI) has unveiled high-efficiency multifunctional metalenses leveraging its proprietary platform, aimed at revolutionizing ultracompact optical sensors across sectors like consumer electronics, automotive, and life sciences. These diffractive optical elements enable multiple optical functions on a single surface, enhancing the performance of optical systems. With proven reliability from existing products, II-VI's innovation in 3D sensing cameras is anticipated to boost adoption in various applications, supported by its extensive VCSEL chip portfolio.
II-VI Incorporated (Nasdaq: IIVI) has launched advanced heated ion implantation foundry services for 150 mm silicon carbide (SiC) wafers, positioning itself as the first foundry to offer this commercially. This innovation supports the growing demand for reliable power electronics in clean energy applications. II-VI's ion implantation process operates at temperatures up to 650°C, enhancing doping precision and enabling compatibility with various semiconductor materials. The company is prepared to scale services to 200 mm wafers, offering extensive capacity and same-day turnaround for urgent customer needs.
II‐VI Incorporated (Nasdaq: IIVI) has announced an additional equity investment from Bain Capital, increasing its total commitment to $2.15 billion. This new $350 million investment will go towards 140,000 shares of Series B-2 Convertible Preferred Stock, priced at $10,000 per share. Following a previous sale of 75,000 shares for $750 million, Bain Capital's total investment is now $1.4 billion. The shares are convertible to common stock at a price of $85 per share. This financing is in conjunction with the pending business combination with Coherent, Inc.
II-VI Incorporated (Nasdaq: IIVI) has announced a virtual demonstration at OFC 2021 featuring their new 400/800G transceivers designed for next-generation data center switches. These transceivers support a groundbreaking 100 Gbps PAM4 electrical interface compatible with 25.6T and 51.2T switch ASICs. The demonstrations will showcase three types of transceivers: 800G-DR8 OSFP, 400G-FR4 QSFP112, and 400G-SR4 QSFP112, each exhibiting state-of-the-art optical transmission performance exceeding IEEE specifications.
II-VI Incorporated (Nasdaq: IIVI), a leader in engineered materials and optoelectronic components, will present at the Nasdaq 44th Investor Conference on June 15, 2021, at 7:30 a.m. ET. The presentation will be virtual, featuring Dr. Chuck Mattera, CEO, and Mary Jane Raymond, CFO, as speakers. Investors can access a real-time audio webcast via the Investors section of II-VI's website, with a replay available post-event. The company specializes in innovative products across various sectors, including communications and aerospace.
II-VI has unveiled an optical monitoring system (OMS) designed for optical transport and access networks, addressing the growing need for unified monitoring solutions in telecom sectors. The OMS offers real-time insights into network health, optimizing uptime and service quality. Capable of connecting to up to 48 monitoring ports, it integrates seamlessly with existing infrastructure and supports cloud-based management with AI capabilities. This innovation reflects II-VI's commitment to enhancing network reliability and performance.
