-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EuK+aqKwAuLH2Cr+AkE4Cvh+JbQeNyeGUy2sVBzXr45xyXefHEL71h2Rs5iE9JFf 4oxE/Ex+ck2Vt/5mdlu60Q== 0000950132-95-000399.txt : 19951019 0000950132-95-000399.hdr.sgml : 19951019 ACCESSION NUMBER: 0000950132-95-000399 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19951016 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19951018 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: II-VI INC CENTRAL INDEX KEY: 0000820318 STANDARD INDUSTRIAL CLASSIFICATION: OPTICAL INSTRUMENTS & LENSES [3827] IRS NUMBER: 251214948 STATE OF INCORPORATION: PA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16195 FILM NUMBER: 95581326 BUSINESS ADDRESS: STREET 1: 375 SAXONBURG BLVD CITY: SAXONBURG STATE: PA ZIP: 16056 BUSINESS PHONE: 4123524455 MAIL ADDRESS: STREET 1: 375 SAXONBURG BLVD CITY: SAXONBURG STATE: PA ZIP: 16056 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Act of 1934 Date of Report (Date of earliest event reported) October 16, 1995 -------------------------- II-VI INCORPORATED - ----------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Pennsylvania 0-16195 25-1214948 - ----------------------------------------------------------------------------- (State of other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 375 Saxonburg Boulevard, Saxonburg, Pennsylvania 16056 - ----------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code 412-352-4455 -------------------------- ___________________ - ----------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events The Registrant hereby incorporates by reference its Press Release dated October 16, 1995 which is attached hereto as Exhibit 99.1. Item 7. Financial Statements and Exhibits (c) Exhibits. 99.1 Press Release dated October 16, 1995 Filed herewith. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. II-VI Incorporated ----------------------------------- (Registrant) October 16, 1995 By: /s/ James Martinelli - -------------------------- ----------------------------------- (Date) James Martinelli Treasurer and Director of Finance and Accounting EXHIBIT INDEX ------------- 99.1 Press Release dated October 16, 1995 Filed herewith. EX-99 2 PRESS RELEASE Exhibit 99.1 Release Date: Contact: October 16, 1995 Jim Martinelli Treasurer, Director of Finance & Accounting (412) 352-4455 II-VI INCORPORATED ANNOUNCES FIRST QUARTER RESULTS PITTSBURGH, PA., October 16, 1995--II-VI Incorporated (NASDAQ NMS:IIVI) today reported results for its first fiscal quarter ended September 30, 1995. Net earnings for the period were $806,000 ($0.15 per share) on revenues of $8,088,000. These results compare with net earnings of $396,000 ($0.08 per share) on revenues of $5,446,000 in the first quarter of last fiscal year. Bookings increased 35% to $8,017,000 for the quarter from $5,936,000 for the same period last year. This increase is attributable to Virgo Optics Division bookings and increased demand from the industrial markets of Europe, Japan and the United States. Manufacturing gross margin was $3,401,000 or 43% of net sales for the quarter compared to $2,097,000 or 41% of net sales for the same period last year. The increase reflects the lower per unit operating cost associated with the higher production volume, increased production efficiencies and yields, and favorable product mix. Selling, general and administrative expenses were $2,131,000 or 26% of revenues for the quarter as compared to $1,472,000 or 27% of revenues for the same period last year. The expense increase is attributable to higher compensation expense associated with the Company's worldwide profit-driven bonus programs and expenses incurred at the Virgo Optics Division. (more) II-VI Incorporated October 16, 1995 Page 2 "During the quarter, we exceeded expectations and are well positioned in our markets to continue this strong growth" said Carl J. Johnson, chairman and chief executive officer. Francis J. Kramer, president and chief operating officer stated "Our domestic and foreign manufacturing expansion programs are on schedule and will allow us to continue to meet increased customer demands." Headquartered in Saxonburg, Pennsylvania II-VI Incorporated designs, manufactures and markets optical and electro-optical components, devices and materials for precision use in infrared, near infrared, visible light and x-ray instruments and applications. The Company's infrared products are used in high-power CO\\2\\ (carbon dioxide) lasers for industrial processing worldwide. The Company's Virgo Optics Division manufactures near infrared and visible light products used in industrial, scientific and medical instruments and solid-state YAG (yttrium aluminum garnet) lasers. II-VI is also developing and marketing solid-state x-ray and gamma-ray products for the nuclear radiation detection industry through its eV PRODUCTS division. (more) II-VI Incorporated and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) ($000 except share data)
Three Months Ended September 30, ------------------ 1995 1994 -------- -------- Revenues Net Sales 7,957 5,161 Contract research and development 131 285 ------ ------ 8,088 5,446 ------ ------ Costs, Expenses & Other Income Costs of goods sold 4,556 3,064 Contract research and development 101 198 Internal research and development 148 132 Selling, general and administrative expenses 2,131 1,472 Other (income) expense - net 16 11 ------ ------ 6,952 4,877 ------ ------ Earnings Before Income Taxes 1,136 569 Income Tax Expense 330 173 ------ ------ Net Earnings $ 806 $ 396 ====== ====== Earnings Per Share $ 0.15 $ 0.08 ====== ====== Average Shares Outstanding 5,506 5,114
All share data reflects the two-for-one stock split which was effected on the close of business September 6, 1995. -----END PRIVACY-ENHANCED MESSAGE-----