- II-VI Inc (NASDAQ: IIVI) reported fourth-quarter FY22 revenue growth of 10% year-on-year to $887 million, beating the consensus of $858.7 million.
- Segments: Photonic Solutions revenue increased 8.7% Y/Y to $597.4 million. Revenue from Compound Semiconductors rose 12.1% Y/Y to $289.6 million.
- Margins: The non-GAAP gross margin expanded 10 bps to 38.7%. The non-GAAP operating margin expanded 60 bps to 19%.
- Non-GAAP EPS of $0.98 beat the consensus of $0.94.
- II-VI held $2.6 billion in cash and equivalents.
- "II-VI set new records for quarterly revenue in the fourth quarter and significant quarterly growth year-over-year, in response to sustained robust demand across our businesses, and despite a challenging operating environment," said Vincent D. Mattera, Jr., Chair and CEO.
- Outlook: II-VI sees Q1 revenue of $1.3 billion - $1.4 billion, above the consensus of $1.02 billion.
- II-VI sees non-GAAP EPS of $0.77 - $0.90, below the consensus of $0.96.
- Price Action: IIVI shares traded higher by 5.14% at $58.50 in the premarket session on the last check Wednesday.
Read at Benzinga