II-VI: Fiscal 3Q Earnings Snapshot

SAXONBURG, Pa. (AP) _ II-VI Inc. (IIVI) on Wednesday reported fiscal third-quarter earnings of $24.6 million.

On a per-share basis, the Saxonburg, Pennsylvania-based company said it had profit of 38 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to 62 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The Laser and optics manufacturer posted revenue of $342.5 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $339.5 million.

For the current quarter ending in June, II-VI expects its per-share earnings to range from 63 cents to 71 cents.

The company said it expects revenue in the range of $343 million to $353 million for the fiscal fourth quarter.

II-VI shares have climbed 23% since the beginning of the year. The stock has risen roughly 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IIVI at https://www.zacks.com/ap/IIVI