These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the joint proxy statement/prospectus included in the registration statement on Form S-4 (File No. 333-229052) filed with the SEC in connection with the proposed transaction (the “Form S-4”). While the list of factors discussed above is, and the list of factors presented in the Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Neither II-VI nor Finisar assumes any obligation to publicly provide revisions or updates to any forward looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.
II-VI Incorporated and Subsidiaries | |||||||||||||||
Condensed Consolidated Statements of Earnings (Unaudited) | |||||||||||||||
($000 except per share data) | |||||||||||||||
Three Months Ended | |||||||||||||||
June 30, | March 31, | June 30, | |||||||||||||
2019 | 2019 | 2018 | |||||||||||||
Revenues | $ | 362,728 | $ | 342,496 | $ | 321,075 | |||||||||
Costs, Expenses & Other Expense (Income) | |||||||||||||||
Cost of goods sold | 224,076 | 215,212 | 192,465 | ||||||||||||
Internal research and development | 36,202 | 36,026 | 32,896 | ||||||||||||
Selling, general and administrative | 61,731 | 60,128 | 55,690 | ||||||||||||
Interest expense | 5,606 | 5,647 | 5,049 | ||||||||||||
Other expense (income), net | 384 | (1,532 | ) | 768 | |||||||||||
Total Costs, Expenses, & Other Expense (Income) | 327,999 | 315,481 | 286,868 | ||||||||||||
Earnings Before Income Taxes | 34,729 | 27,015 | 34,207 | ||||||||||||
Income Taxes | 6,701 | 2,377 | 7,040 | ||||||||||||
Net Earnings | $ | 28,028 | $ | 24,638 | $ | 27,167 | |||||||||
Diluted Earnings Per Share | $ | 0.43 | $ | 0.38 | $ | 0.42 | |||||||||
Basic Earnings Per Share | $ | 0.44 | $ | 0.39 | $ | 0.44 | |||||||||
Average Shares Outstanding - Diluted | 65,686 | 65,701 | 65,158 | ||||||||||||
Average Shares Outstanding - Basic | 63,719 | 63,612 | 62,521 |