KUALA LUMPUR, Nov 6 -- II-VI Incorporated (II-VI), a global leader in engineered materials and optoelectronic components has reported results for its fiscal 2021 first quarter ended Sept 30, this year.
“We delivered many highlights in the first quarter of FY21 while we continued our relentless focus on risk management and employee safety in the face of Covid-19.
“The sustained leadership of our diversified and broad product portfolio, strong results that reflected expanding trends in all of our end markets, navigation of the new trade restrictions and the achievement of greater share of the 3D Sensing market, were only a few of the tremendous accomplishments this quarter.
“I am pleased that we have achieved increased revenues, delivered synergies ahead of schedule, increased gross margins 330 basis points, and re-engaged a number of customers that were on the sidelines before the transaction was approved.
“Given the demand we are seeing for our datacom and telecom products, this timely acquisition was and continues to be consistent with our strategy to count on some of the world’s greatest mega trends such as 5G and Cloud Computing to deliver a sustainable growth,” said Dr Vincent D. (Chuck) Mattera, Jr. in a statement.
He added: “Our greater 3D sensing share is demonstrated by the 200 per cent year over year growth, and we were able to deliver strong results in the quarter for the entire business, despite the new trade restrictions.
“We strengthened our balance sheet through a successful capital raise of US$920 million with the enthusiastic support of our shareholders, moving our net debt leverage ratio down to 1.3x and increasing our cash balance to US$684 million.” (US$1 = RM4.138)
The outlook for the second fiscal quarter ending Dec 31 is revenue of US$750.0 million to US$780.0 million and earnings per diluted share on a non-GAAP basis of US$0.86 to US$0.95.
For details, visit www.ii-vi.com.
-- BERNAMA
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