II-VI Incorporated Reports Fiscal 2020 Second Quarter Results
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II-VI Incorporated and Subsidiaries |
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Condensed Consolidated Statements of Earnings (Loss) (Unaudited) |
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($000 except per share data) |
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Three Months Ended |
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December 31, |
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September 30, |
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December 31, |
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2019 |
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2019 |
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2018 |
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Revenues | | $ | | 666,331 | | | $ | | 340,409 | | | $ | | 342,839 | | | | | | | | | | | | | | | | | | | |
Costs, Expenses & Other Expense (Income) | | | | | | | | | | | | | | | | | Cost of goods sold | | | | 517,991 | | | | | 217,269 | | | | | 211,333 | | | Internal research and development | | | | 107,700 | | | | | 36,120 | | | | | 33,764 | | | Selling, general and administrative | | | | 119,218 | | | | | 105,495 | | | | | 58,136 | | | Interest expense | | | | 28,390 | | | | | 6,968 | | | | | 5,580 | | | Other expense (income), net | | | | 487 | | | | | 5,079 | | | | | (701 | ) | |
Total Costs, Expenses, & Other Expense (Income) | | | | 773,786 | | | | | 370,931 | | | | | 308,112 | | | | | | | | | | | | | | | | | | | |
Earnings (Loss) Before Income Taxes | | | | (107,455 | ) | | | | (30,522 | ) | | | | 34,727 | | | | | | | | | | | | | | | | | | | |
Income Taxes | | | | (9,242 | ) | | | | (4,524 | ) | | | | 6,025 | | | | | | | | | | | | | | | | | | | |
Net Earnings (Loss) | | $ | | (98,213 | ) | | $ | | (25,998 | ) | | $ | | 28,702 | | | | | | | | | | | | | | | | | | | |
Diluted Earnings (Loss) Per Share | | $ | | (1.08 | ) | | $ | | (0.39 | ) | | $ | | 0.44 | | | | | | | | | | | | | | | | | | | |
Basic Earnings (Loss) Per Share | | $ | | (1.08 | ) | | $ | | (0.39 | ) | | $ | | 0.45 | | | | | | | | | | | | | | | | | | | |
Average Shares Outstanding - Diluted | | | | 93,008 | | | | | 65,969 | | | | | 65,673 | | |
Average Shares Outstanding - Basic | | | | 90,886 | | | | | 65,969 | | | | | 63,588 | | | | | | | | | | | | | | | | | | |
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