II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results
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II-VI Incorporated and Subsidiaries | |
Condensed Consolidated Statements of Cash Flows (Unaudited) | |
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Year Ended | | | |
June 30, | | | |
2019 |
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2018 | |
Cash Flows from Operating Activities | | | | | | | | | | |
Net cash provided by operating activities | | $ | | 178,475 | | | $ | | 161,014 | | | | | | | | | | | | | |
Cash Flows from Investing Activities | | | | | | | | | | | Additions to property, plant & equipment | | | | (137,122 | ) | | | | (153,438 | ) | | Purchases of businesses | | | | (83,067 | ) | | | | (80,503 | ) | | Purchases of equity investments | | | | (4,480 | ) | | | | (52,056 | ) | | Other investing activities | | | | 693 | | | | | 1,047 | | |
Net cash used in investing activities | | | | (223,976 | ) | | | | (284,950 | ) | | | | | | | | | | | | |
Cash Flows from Financing Activities | | | | | | | | | | | Proceeds from borrowings | | | | 150,000 | | | | | 445,000 | | | Proceeds from exercises of stock options | | | | 8,698 | | | | | 10,469 | | | Payments on borrowings | | | | (135,000 | ) | | | | (292,000 | ) | | Payments in satisfaction of employees' minimum tax obligations | | | | (7,092 | ) | | | | (6,564 | ) | | Debt issuance costs | | | | (5,589 | ) | | | | (10,061 | ) | | Payments on earnout considerations | | | | (4,524 | ) | | | | - | | | Purchases of treasury stock | | | | (1,616 | ) | | | | (49,875 | ) | |
Net cash provided by financing activities | | | | 4,877 | | | | | 96,969 | | | | | | | | | | | | | | Effect of exchange rate changes on cash and cash equivalents | | | | (1,542 | ) | | | | 2,117 | | | Net (decrease) in cash and cash equivalents | | | | (42,166 | ) | | | | (24,850 | ) | | Cash and Cash Equivalents at Beginning of Period | | | | 247,038 | | | | | 271,888 | | |
Cash and Cash Equivalents at End of Period | | $ | | 204,872 | | | $ | | 247,038 | |
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