II-VI +10.2% after solid Q1, upbeat guidance

|About: II-VI Incorporated (IIVI)|By:, SA News Editor

II-VI (NASDAQ:IIVI) is up 10.2% premarket after some broad Q1 results strength incorporated solid guidance for the current quarter.

Revenues grew 20% overall with gains in all areas, and operating income rose 23% Y/Y on an adjusted basis.

Order backlog hit a record. Total book-to-bill ratio rose to 1.04 from a year-ago 0.96.

Revenue by segment: Laser Solutions, $106.2M (up 21%); Photonics, $135.1M (up 16%); Performance Products, $73.1M (up 27%).

Operating income by segment: Laser Solutions, $12.3M (up 356%); Photonics, $15.9M (down 21%); Performance Products, $9M (up 29%).

For Q2 it's guiding to revenues of $333M-$345M (above consensus for $327.7M) and adjusted EPS of $0.65-$0.69, above consensus for $0.60. Comparable results for Q4 were revenues of $281.5M and EPS of $0.15.

Previously: II-VI EPS in-line, beats on revenue (Nov. 01 2018)

Press release

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