SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 9, 1998
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II-VI INCORPORATED
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(Exact name of registrant as specified in its charter)
Pennsylvania 0-16195 25-1214948
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
Number)
375 Saxonburg Boulevard, Saxonburg, Pennsylvania 16056
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(Address of principal executive offices) (ZIP Code)
Registrant's telephone number, including area code: 724-352-4455
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Former name or former address, if changed, since last report:
Not Applicable
Item 5. Other Events
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On July 9, 1998, II-VI Incorporated (the "Company") issued a
press release announcing preliminary bookings and revenues for the
fourth quarter and fiscal year ended June 30, 1998.
The full text of the Company's press release is filed as Exhibit
99 to this Current Report on Form 8-K and is incorporated herein by
reference.
Item 7. Financial Statements and Exhibits
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(c) Exhibits.
Exhibit No. Description
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99 Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
II-VI INCORPORATED
(Registrant)
Date: July 9, 1998 By: /s/ Carl J. Johnson
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Carl J. Johnson
Chairman &
Chief Executive Officer
Date: July 9, 1998 By: /s/ James Martinelli
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James Martinelli
Treasurer &
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Description
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99 Press Release
Exhibit 99
July 9, 1998 Jim Martinelli
Treasurer & Chief
Financial Officer
(724) 352-4455
[email protected]
II-VI Homepage: www.ii-vi.com
II-VI INCORPORATED ANNOUNCES PRELIMINARY FOURTH QUARTER AND FISCAL
YEAR BOOKINGS AND REVENUES
PITTSBURGH, PA., July 9, 1998--II-VI Incorporated (NASDAQ NMS:
IIVI) today reported preliminary bookings and revenues for the
fourth quarter and fiscal year ended June 30, 1998. Bookings for
the quarter are expected to be approximately $16 million as
compared to last year's fourth quarter bookings of $16.3 million
and revenues for the quarter are expected to be approximately
$14.5 million compared to $14.8 million for the same period a year
ago. For the year, bookings are expected to be approximately $65
million as compared to $56.7 million for last fiscal year and
revenues are expected to be approximately $61 million as compared
to $52.7 million a year ago.
While the Company's financial results are preliminary and require
further analysis, revenues for the quarter ended June 30, 1998
from infrared products should remain relatively constant with last
year's level, in spite of the lower demand from the Japanese
market and the continued weakness of the Japanese Yen. Quarterly
revenues from the Company's VLOC subsidiary should increase
approximately 10%, while quarterly revenues from the eV PRODUCTS
division should decrease.
Francis J. Kramer, President and Chief Operating Officer stated,
"Continued strength in the European and the U.S. markets is
expected to overcome shortfalls in the Japanese market for our
infrared optical products. Revenue growth of the VLOC subsidiary
and the eV PRODUCTS division is expected to be negatively impacted
by production delays associated with moving to new facilities and
by lower than expected material production yields. We expect
production and yield improvements in the upcoming quarters to
positively impact operating results."
The Company is expected to issue its year end earnings release on
August 11, 1998.
Headquartered in Saxonburg, Pennsylvania, II-VI Incorporated
designs, manufactures and markets optical and electro-optical
components, devices and materials for precision use in infrared,
near infrared, visible light and x-ray instruments and
applications. The Company's infrared products are used in high-
power CO2 (carbon dioxide) lasers for industrial processing
worldwide. The Company's VLOC subsidiary manufactures near
infrared and visible light products used in industrial, scientific
and medical instruments and solid-state (such as YAG and YLF)
lasers. II-VI Incorporated is also developing and marketing
solid-state x-ray and gamma-ray products for the nuclear radiation
detection industry through its eV PRODUCTS division.
This press release contains forward-looking statements as defined
by Section 21E of the Securities Exchange Act of 1934. Actual
results may differ materially from the results described in any
forward looking statements due to expected production delays
associated with moving to new facilities and production yields of
the VLOC subsidiary and the eV PRODUCTS division and issues that
may arise in connection with the completion of the annual audit.
Additional information on potential factors that could affect the
Company's financial results are included in the Company's Form 10-
K for the year ended June 30, 1997 as filed with the Securities
and Exchange Commission.
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