August 23, 2000
Craig A. Creaturo
Treasurer
(724) 352-4455
[email protected]
II-VI Homepage: www.ii-vi.com
II-VI INCORPORATED DECLARES
TWO-FOR-ONE COMMON STOCK SPLIT
PITTSBURGH, PA., August 23, 2000 -- II-VI Incorporated (NASDAQ NMS:
IIVI) announced today that its Board of Directors declared a two-for-one
stock split of the Company's common stock in the form of a 100% common
stock dividend. The common stock dividend will be issued to shareholders
of record as of the close of business on September 5, 2000. II-VI expects
that its transfer agent, American Stock Transfer and Trust Company, will
distribute the dividend on or about September 20, 2000. There are
currently approximately 6.9 million shares of II-VI common stock
outstanding. Upon completion of the stock split, there will be
approximately 13.8 million common shares outstanding.
"Today's stock split announcement reflects our commitment to building
value for our shareholders and the strong outlook we have for II-VI," said
Carl J. Johnson, Chairman and Chief Executive Officer of II-VI. "Our
objective with the stock split is to enhance the trading market of our
stock by providing additional liquidity."
Headquartered in Saxonburg, Pennsylvania II-VI Incorporated designs,
manufactures and markets optical and electro-optical components, devices
and materials for infrared, near-infrared, visible light, x-ray and gamma-
ray instrumentation and has recently announced new products to serve the
telecommunication industry. II-VI's infrared products are used primarily
in high-power CO2 (carbon dioxide) lasers. II-VI's VLOC subsidiary
manufactures near-infrared and visible light products for industrial,
scientific and medical instruments and solid-state (such as YAG and YLF)
lasers and products for the telecommunications industry. II-VI's eV
PRODUCTS division manufactures and markets solid-state x-ray and gamma-ray
detector products for the nuclear radiation detection industry.
This press release contains certain forward-looking statements within the
meaning of the safe-harbor provisions of the U.S. federal securities laws.
These forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed
in the forward-looking statements. Many of these risks and uncertainties
relate to factors that are beyond the Company's ability to control or
estimate precisely, such as future market conditions, the actions of
governmental regulators and the behavior of other market participants.
Readers are cautioned not to place undue reliance on these forward-looking
statements which speak only as of the date of this press release. The
Company does not undertake any obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this press release.
CONTACT: Craig A. Creaturo, Treasurer of II-VI Incorporated,
724-352-4455, or e-mail, [email protected]
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