II-VI Incorporated (NASDAQ:IIVI) reported fourth quarter earnings before market open today.
The company unfold income of $ 28.00 million or $ 0.43 per share, elevated 2.38 percent compared with income of $ 27.20 million or $ 0.42 per share, a year ago period.
On adjusted basis, The Saxonburg headquartered company, IIVI posted adjusted net income of $ 43.80 million or or $ 0.67 per share, while Wall street analysts are predicting, income of $ 0.66 per share
Topline results for the fourth quarter hiked 12.96 percent to $ 362.70 million from $ 321.08 million in the same quarter last year, where as Wall street analysts are predicting revenue of $ 348.02 million
Analysts estimates are from Thomson Reuters, exclude one time gain or loss.
Dr. Vincent D. (Chuck) Mattera, Jr., Chief Executive Officer, said, We completed our fiscal year 2019 by delivering another strong operating performance driven by record quarterly and full year revenues. Growth was led by our key accounts in the Photonics segment from the optical communications markets, with increasing demand for products driven by broad-based deployments and the continued acceleration of the 5G infrastructure build-out around the world.