Lifted by markets at all-time highs, II-VI Incorporated (IIVI) erased some of its declines that followed after its weak quarterly results. And since stocks rebounding alongside the averages might drop more if markets correct, at what price should investors buy II-VI?
Weak First-Quarter Earnings
II-VI reported revenue increasing by 8.3% to $340.4 million. Non-GAAP EPS was $0.57 but GAAP EPS was a loss of $0.39. II-VI excluded many one-time expenses to arrive at a non-GAAP profit. Stock-based compensation and severance both cost $18.4 million while the Finisar acquisition cost $33.9 million.
Finisar