II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results
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Table 9 | | | | | | | | | | | |
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II-VI Incorporated and Subsidiaries |
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Reconciliation of Reported Earnings to Adjusted Net Earnings |
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(Unaudited) |
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Year Ended |
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June 30, |
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June 30, |
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2019 |
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2018 |
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| Reported Earnings | | $ | | 107.5 | | | | $ | | 88.0 | |
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| Add back (deduct) one-time items: | | | | | | | | | | | |
| Share-based compensation expense in COGS | | | | 3.2 | | | | | | 2.9 | |
| Share-based compensation expense in SG&A | | | | 21.8 | | | | | | 16.8 | |
| Amortization expense | | | | 16.6 | | | | | | 14.6 | |
| Acquired businesses one-time expenses | | | | 3.8 | | | | | | 2.0 | |
| Transaction cost related to pending merger | | | | 15.6 | | | | | | - | |
| Impact of the "Tax Cuts and Jobs Act" | | | | - | | | | | | 8.0 | |
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| Tax adjustment on one-time items | | | | (0.9 | ) | | | | | (0.3 | ) |
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| Adjusted Net Earnings | | $ | | 167.6 | | | | $ | | 132.0 | |
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Per share data: | | | | | | | | | | | |
| Reported Earnings: | | | | | | | | | | | |
| Earnings - Diluted Earnings Per Share | | $ | | 1.63 | | | | $ | | 1.35 | |
| Earnings - Basic Earnings Per Share | | $ | | 1.69 | | | | $ | | 1.41 | |
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| Per share, After-Tax Impact of Adjustments on: | | | | | | | | | | | |
| Adjustments - Diluted Earnings Per Share | | $ | | 0.91 | | | | $ | | 0.68 | |
| Adjustments - Basic Earnings Per Share | | $ | | 0.95 | | | | $ | | 0.70 | |
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| Adjusted Earnings: | | | | | | | | | | | |
| Adjusted Earnings - Diluted Earnings Per Share | | $ | | 2.54 | | | | $ | | 2.03 | |
| Adjusted Earnings - Basic Earnings Per Share | | $ | | 2.64 | | | | $ | | 2.11 | |
