II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results
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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, | | | |
2022 | |
2022 | |
2021 | | | | | | | | | |
Revenues | | $ | 886,962 | | $ | 827,724 | | $ | 808,006 | | | | | | | | | | |
Costs, Expenses & Other Expense (Income) | | | | | | | | Cost of goods sold | | | 560,930 | | | 506,051 | | | 510,213 | | | Internal research and development | | | 95,917 | | | 96,895 | | | 83,768 | | | Selling, general and administrative | | | 115,862 | | | 118,009 | | | 116,832 | | | Interest expense | | | 48,502 | | | 43,499 | | | 14,066 | | | Other expense (income), net | | | 16,768 | | | 241 | | | (10,124 | ) | |
Total Costs, Expenses, & Other Expense (Income) | | | 837,979 | | | 764,695 | | | 714,755 | | | | | | | | | | |
Earnings Before Income Taxes | | | 48,983 | | | 63,029 | | | 93,251 | | | | | | | | | | |
Income Taxes | | | 5,347 | | | 14,027 | | | 10,957 | | | | | | | | | | |
Net Earnings | | $ | 43,636 | | $ | 49,002 | | $ | 82,294 | | | | | | | | | | |
Less: Dividends on Preferred Stock | | | 17,291 | | | 17,148 | | | 16,878 | | |
Net Earnings available to the Common Shareholders | | $ | 26,345 | | $ | 31,854 | | $ | 65,416 | | | | | | | | | | |
Basic Earnings Per Share | | $ | 0.25 | | $ | 0.30 | | $ | 0.62 | | | | | | | | | | |
Diluted Earnings Per Share | | $ | 0.23 | | $ | 0.28 | | $ | 0.59 | | | | | | | | | | | | | | | | | | |
Average Shares Outstanding - Basic | | | 106,520 | | | 106,323 | | | 104,957 | | |
Average Shares Outstanding - Diluted | | | 116,821 | | | 116,949 | | | 116,225 | | | | | | | | | | | | | |
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